energy economies

A new study released by British Business Energy provides insights into the world’s largest energy economies including top earners, GDP contributions, countries with the highest number of energy-related employees and which countries are leading the way when it comes to renewable energy.

Top five energy economies

 RankCountryCombined Revenue ($ Millions)
1USA$1,234,452
2China$836,627
3Russia$464,254
4Netherlands$388,379
5India$351,093

From all energy companies combined, the USA takes the lead as the world’s top energy earner. Home to notable names such as Exxon Mobil, Chevron and Phillips 66 – the USA makes over $1 trillion through energy companies. China takes second place, earning just under $837 million and Russia in third with a much lower figure of $464 million.

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 How does the energy industry contribute to a country’s GDP?

Despite being the world’s top energy earner, this only contributes to 6.34% of the USA’s nominal GDP. The Netherlands actually sees just under half of its nominal GDP attributable to energy companies at 46.76%, closely followed by Russia at 29.41%.

RankCountryRevenue/GDP Ratio (%)
1Netherlands46.76%
2Russia29.41%
3Norway19.66%
4Hong Kong17%
5Thailand16.36%

Who leads the way when it comes to energy employment?

Hong Kong is the world leader when it comes to energy employment – with every 18th person out of 1,000 being employed in the energy sector. Whilst for Russia’s working population, every 17th person out of 1,000 is in an energy related job, the country also features in the top five countries for revenue and contributions to GDP.

France and the Netherlands take joint third place with every 9th person employed being in an energy-related job. The UK lags behind in 10th place with only 3 people out of every 1,000 being in an energy-related role.

Renewable energy

We take a look at the top ten countries who are investing in, partially using or plans to use renewable energy in the near future.

RankCountryRenewable Score
1USA7
2Brazil6.5
3India6.3
4Hungary5.5
5Argentina5.5
6South Korea5.5
7Poland5.2
8Spain5.1
9Denmark5
10Germany5

Ian Wright, managing director of British Business Energy said: “As a global population we are becoming more environmentally conscious, but with the demand for energy increasing it’s important to highlight the economies which are leading the way for revenue but also employment and renewable energy production.”

Click here for more information about the report.