Energy and GDP analysis of OECD countries

Abstract

For a country (either developed or less developed) to understand the role of energy use at the national level, it is necessary to understand the relationship of energy use to economic activity and social well-being, and the relationship between energy and GDP indicates the economic development of a country. It is well known that the Gross Domestic Product (GDP) measures the value of goods and services produced in a country in one year. In this study, the evaluations and future projections of energy and energy resources of the Organization for Economic Co-operation and Development (OECD) are presented. The total primary energy supply and total final energy consumption, and energy intensities for supply and consumption are analysed and discussed. The energy data for all OECD countries are presented, and the analyses of the differences in energy and GDP ratios are conducted at an aggregate level by examining differences in the factors that affect the energy intensities. In order to provide accurate projections for the future, new correlations were developed between average GDP, total primary energy supply, total final consumption, total primary energy supply per capita, total final consumption per capita and total population of the OECD.