Based on the latest forecasted data for 2024, Germany, Italy, and France have the highest fossil fuel energy trade deficits in Europe, primarily driven by substantial imports of fossil fuels. Germany’s deficit stands at 170.75 million metric tons, followed by Italy and France at 117.57 and 112.45 million metric tons, respectively. Countries like Norway and Estonia exhibit negative values, indicating a trade surplus in fossil fuels, with Norway significantly leading due to its extensive oil and gas production. Year-on-year variations highlight decreasing trade deficits in major economies like Germany (-4.85%) and France (-3.01%), while Spain (+0.96%) and Poland (+1.71%) exhibit slight increases in their deficits.
Future trends to watch include a possible continuation of the reduction in deficits for key economies like Germany and France as they transition towards renewable energy sources. Additionally, geopolitical factors, policy changes, and advancements in energy efficiency may further influence these trends, while countries with surplus like Norway will continue benefiting from global demand for fossil fuels.
Top countries in Fossil Fuels Energy Trade Balance by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 170,750 | 2023 | +1.48% | -4.85% | View data |
| 2 | 2 Italy | 117,570 | 2023 | -2.26% | -1.51% | View data |
| 3 | 3 France | 112,450 | 2023 | -2.25% | -3.01% | View data |
| 4 | 4 Spain | 87,300 | 2023 | +0.35% | +0.96% | View data |
| 5 | 5 Netherlands | 58,320 | 2023 | -3.57% | View data | |
| 6 | 6 United Kingdom | 49,950 | 2023 | -0.96% | View data | |
| 7 | 7 Poland | 45,190 | 2023 | +4.77% | +1.71% | View data |
| 8 | 8 Belgium | 24,620 | 2023 | -8.68% | -3.29% | View data |
| 9 | 9 Greece | 21,380 | 2023 | -0.34% | +1.07% | View data |
| 10 | 10 Czech Republic | 20,040 | 2023 | +4.49% | View data |