# Bangkok Post - Thailand faces current account blowout on oil, tourism risks

> Thailand is heading for a rare back-to-back current account deficit as tourism outlooks weaken with rising Covid cases and energy import bills climb with soaring oil prices. Bank of Ayudhya expects a $4.6 billion shortfall this year, with several banks forecasting similar deficits.

- Date: 2022-03-22 · published 2022-03-22T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/42513-bangkok-post-thailand-faces-current-account-blowout-on-oil-tourism-risks
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A widening Thai external deficit adds pressure on the baht, raising the local cost of imported feed ingredients, while higher oil and freight costs also lift feed production expenses.

## Read by commodity

- WTI: bullish ▲
- USDTHB: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-12-07 | [India rupee to remain weak on current account and rate differential: Reuters poll](https://feedsoft.ai/events/38491-india-rupee-to-remain-weak-on-current-account-and-rate-differential-reuters-poll.md) | +0.5% | -0.8% |
| WTI | 2026-03-26 | [Bangkok Post - Baht may fall further on oil price exposure](https://feedsoft.ai/events/20441-bangkok-post-baht-may-fall-further-on-oil-price-exposure.md) | +11.2% | +7.7% |
| WTI | 2019-02-01 | [Oil rises on strong US jobs data and falling rig count](https://feedsoft.ai/events/60760-oil-rises-on-strong-us-jobs-data-and-falling-rig-count.md) | -2.1% | +6.3% |
| WTI | 2021-05-31 | [Canadian dollar on track for monthly gain as current account swings to surplus - The Globe and Mail](https://feedsoft.ai/events/47327-canadian-dollar-on-track-for-monthly-gain-as-current-account-swings-to-surplus.md) | +4.4% | +10.0% |
| WTI | 2024-01-30 | [Crude oil prices today: WTI, Brent rise after IMF forecast](https://feedsoft.ai/events/32274-crude-oil-prices-today-wti-brent-rise-after-imf-forecast.md) | -5.2% | +3.1% |

## Sources

- bangkokpost.com: https://www.bangkokpost.com/business/general/2283734/thailand-faces-current-account-blowout-on-oil-tourism-risks

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.