Hungary 55th out of 100 on Global Energy Vulnerability Index
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Euromonitor’s first-ever global energy vulnerability index highlights international risk of energy shocks, analyzing data from 100 countries worldwide. According to the ranking, Hungary is in the midfield of the investigated countries.
“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,” explains Aleksandra Svidler, consultant for economies at Euromonitor International.
The countries within the index were ranked based on six energy-related indicators, such as energy self-sufficiency, alternatives to fossils, energy reserves potential, energy accessibility, energy efficiency, and economic resilience.
Norway, Canada, Australia, and the United States 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 of the index, due to lack of energy resources and struggles with poor energy efficiency and economic uncertainty.
Hungary ranks 55th out of 100 countries analyzed, receiving the worst scores in the category of energy self-sufficiency, and the best in economic resilience.
The press release issued with the published index also states that European countries are better positioned with economic resilience, however their heavy reliance on imports raises exposure.
“Although many European countries are better positioned to weather disruptions due to the rising renewables adoption and better access to capital, the region’s high reliance on energy imports raises its exposure to energy shocks,” highlights Svidler.
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