Which Country imported the Most Energy in 2013? Read This
For 63 years, the BP Statistical Review of World Energy has illuminated global trends in energy production, consumption, trade, reserves and prices. This analysis serves to unlock a data-driven, raw and real story – to build the foundations for an open-ended economic discussion. Here is the 2013 story:
Despite a stagnant global economy, the year 2013 witnessed an acceleration in the growth of global energy consumption. This acceleration, however, remained weakest in the emerging non-OECD economies – and strongest in the mature economies of the OECD, driven by the United States. Nonetheless, emerging markets were the cornerstones of global energy demand, accounting for 80% of growth in 2013 and 100% of growth over the last 10 years.
Energy consumption growth was below average in all regions except North America – EU consumption reached the lowest level since 1995, inspite of economic growth of 35% over this time period. In total, global oil consumption grew by 1.4 million barrels per day – slightly above the historical average. The United States recorded the largest increment to global oil consumption in 2013 (+400,000 barrels per day), outpacing Chinese growth (+390,00 barrels per day) for the first time since 1999.
Global oil production, however, grew at a slower pace – rising by just 560,000 barrels per day (0.6%). The United States (+1.1 million barrels per day) recorded the largest growth in the world – and the largest annual increment in the country’s history for a second year. China, however, was the world’s largest producer and consumer of energy overall in 2013. Brazil came in second – generating 24% of the world’s biofuel in 2013.
Global oil trade in 2013 grew by 2.1% (1.2 million barrels per day) among importers with growth in Europe and emerging economies offsetting declines in the United States and Japan. Net imports in the U.S. fell by 1.4 million barrels per day to 6.5 million barrels per day – half the level of net imports seen in 2005 and the lowest levels since 1988. China’s net oil imports reached 7 million barrels per day, surpassing the United Staes as the world’s largest net oil importer.
Global natural gas trade grew by 1.8% in 2013 – although below historical averages of 5.2%. Qatar remained the largest Liquefied Natural Gas (LNG) exporter –32% of global exports— and accounted for the largest growtn increment (+2.7%).
Innovation remains a major trend of 2013.
Renewable energy sources in power generation and transport increased in 2013, reaching a record high of 2.7% of all global energy consumption – an increase from 0.8% a decade ago. Renewable energy usedin power generation grew by 16.3% and accounted for a record 5.3% of global power generation.
Year after year, energy markets reflect broader themes – emerging differences in global economic performance, geopolitical uncertainty, and ongoing debates regarding governments and markets. These timeless concepts empower analysts to read between the lines and forecast areas of opportunity – especially among new, reneable technologies.