Research by British Business Energy reveals the economies powered by the energy sector

Source: press release, 24 July 2020

Revenue versus GDP: How much does the energy industry contribute to each country’s GDP? (illustration: British Business Energy)
Revenue versus GDP: How much does the energy industry contribute to each country’s GDP? (illustration: British Business Energy)

The production and sale of energy is growing – and with consumption increasing, the world’s producers and providers are having to think of renewable methods in efforts to move away from exhaustible fossil fuels.

Research by British Business Energy looks at energy companies around the world, providing insight 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.

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 USD 1 trillion through energy companies. China takes second place, earning just under USD 837 million and Russia in third with a much lower figure of USD 464 million.

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

In the renewables sector – a growing industry that relies heavily on exhaustible resources – British Business Energy lists the top ten countries who are investing in, partially using or plans to use renewable energy in the near future:

Rank / Country / Renewable Score

  1. USA / 7
  2. Brazil / 6.5
  3. India / 6.3
  4. Hungary / 5.5
  5. Argentina / 5.5
  6. South Korea / 5.5
  7. Poland / 5.2
  8. Spain / 5.1
  9. Denmark / 5
  10. Germany / 5

Ian Wright, Managing Director of British Business Energy says, “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.”

To find out more about energy around the world view the full research on British Business Energy here.