- Norway, Canada, Australia and the US are top performers due to diverse mix of energy sources and high self sufficiency
- Belarus and Lebanon rank at the bottom as both countries lack resources and struggle with energy efficiency
- Singapore and Hong Kong rank in bottom 10 because of high dependence on energy imports
- European countries better positioned than many with renewables and economic resilience but heavy reliance on imports raises exposure
LONDON, Aug. 9, 2023 /PRNewswire/ -- Market research company Euromonitor International has released its first-ever Global Energy Vulnerability Index, as part of its 'New Economic Reality: Rising Energy Pressures' report, revealing individual countries' exposure to energy shocks.
The Euromonitor International Global Energy Vulnerability Index 2023 is designed to help leaders and businesses assess and benchmark a country's energy security, providing insights into potential risks, challenges and opportunities in the markets where they operate or plan to expand into in the future.
Euromonitor used six indicators to measure each country's level of energy vulnerability: energy self-sufficiency (30% of total score (TS)), alternatives to fossils (35% TS), energy reserves potential (10% TS), energy accessibility (5% TS), energy efficiency (10% TS) and economic resilience (10% TS).
Norway, Canada, Australia and the US rank at the top of the index due to their strong energy self-sufficiency, ample energy resources, diverse energy mix and high economic resilience.
Belarus and Lebanon rank at the bottom as both countries lack energy resources and struggle with poor energy efficiency and economic uncertainty.
Singapore and Hong Kong also rank among the bottom 10 performers because of heavy reliance on energy imports despite their good score in energy efficiency and economic stability. The smaller size of Singapore and Hong Kong also limits renewables capacity, adding to the city-states' weaknesses.
Aleksandra Svidler, Consultant for Economies at Euromonitor International, said: "Understanding a country or a region's vulnerability to energy shocks will inform business strategy and enable an optimal plan for energy sourcing, as well as help to identify the white spaces for investment.
"Overall, economies that are heavily reliant on imports, with low adoption of renewables, weak energy efficiency and economic instability are more vulnerable to energy risks."
For more information, please read the full Euromonitor International report 'New Economic Reality: Rising Energy Pressures'.
For further information, please contact:
Euromonitor International Press Office
About Euromonitor international
Euromonitor International is the world's leading provider of global business intelligence, market analysis and consumer insights. From local to global and tactical to strategic, our research solutions support decisions on how, where and when to grow your business. With offices around the world, analysts in over 100 countries, the latest data science techniques and market research on every key trend and driver, we help you make sense of global markets.
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