Falling oil prices is beneficial on the Thai economy.
The decline in oil prices is an important factor in supporting the recovery and expansion of the global economy. The country has oil imports such as Thailand will see positive results clearly. While exporting oil countries will have lower revenues from oil exports. It make trade and economic stability of these countries have been affected.
Thailand imports oil and fuel approximately 8% of GDP, higher than China and India or import of about 320 million barrels. It can save the cost of oil imports by about 5 billion baht. In the household sector and business sector use volume of gasoline and diesel per year was 29,000 million liters. This will help both sectors save up to 1.5 billion baht per year. Falling oil prices help GDP of Thailand in 2015 increased by 0.2 percentage point (pp) and inflation slowdown 0.8 pp, it make no barrier to ease monetary policy to support the Bank of Thailand. Expansion of tourism in Thailand.
The drop in oil prices would result in higher purchasing power of citizens in the country. From reduced energy expenditure and increased purchasing power that cause the cost of production, transportation, goods, immovable property are reduce lead to investment, employment and economic growth. Expansion of tourism in Thailand.