The Relationship Between GDP and Electricity Consumption in Southeast European Countries

  • Enisa Džananović
  • Sabina Dacić-LeparaEmail author
Conference paper
Part of the Lecture Notes in Networks and Systems book series (LNNS, volume 3)


Energy plays an important role in the economic development. The aim of this study was to investigate the relationship between GDP per capita and the electricity consumption on 2000–2014 time series for some of the countries of Southeast Europe (B&H, Croatia, Greece, Serbia, Slovenia, Romania and Bulgaria). The annual data for GDP per capita and electricity consumption are obtained from several online available official databases. Comparative analysis showed that in the reference period GDP per capita (19,900 (17,600–21,500) EUR/capita) and electricity consumption (50.51 ± 3.82 TWh) in Greece was significantly higher than the GDP per capita and electricity consumption in all other analyzed countries (p < 0.005). A strong, statistically significant positive correlation between GDP per capita and electricity consumption was found in all analyzed countries except in Serbia, (\({\text{Rho}} = - 0.407; \, p = 0.131\) NS). The highest coefficient of determination [\(r\)-square (\(r^{2}\))] having a value of 0.9051 has been identified for Bulgaria, while the lowest coefficient \(r^{2}\) was identified for Serbia (0.238). Bosnia and Herzegovina has a very close relation between GDP and electricity consumption, (\(Rho = 0.885; p = 0.00001\)) while the coefficient of determination \(r^{2}\) was 0.8436. In other words, for the reference period 2000–2014, about 84 % changes in electricity consumption in B&H can be described by changes of GDP. The obtained results show a very close relationship between the GDP per capita and electricity consumption for selected countries.


Economic Growth Electricity Consumption Rank Variable Correlation Approach Global Economic Crisis 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


  1. 1.
    Acaravci A, Ozturk I (2010) Electricity consumption-growth nexus: evidence from panel data for transition countries. Energy Econ 32(3):604–608CrossRefGoogle Scholar
  2. 2.
    Sheng-Tung C, Hsiao-I K, Chi-Chung C (2007) The relationship between GDP and electricity consumption in 10 Asian countries. Energy Policy 35(4):2611–2621CrossRefGoogle Scholar
  3. 3.
    Zortuk M, Asutay M, Bayrak S (2015) The relationship between electricity consumption, real gdp and employment in G-7 Countries: seasonal panel unit roots and cointegration mode. J Energy Technol Policy 5(4):50–62Google Scholar
  4. 4.
    Moghaddas-Tafreshi SM, Mahdi F (2008) A linear regression-based study for temperature sensitivity analysis of Iran electrical load. In: IEEE international conference on industrial technology, pp 1–7Google Scholar
  5. 5.
    Avdakovic S, Ademovic A, Nuhanovic A (2012) Insight into the properties of the UK electricity consumption using a linear regression and wavelet transform approach. Elektrotehniški Vestnik / Electrotechnical Review 79:278–283Google Scholar
  6. 6.
    Fung WY, Lam KS, Hung WT, Pang SW, Lee YL (2006) Impact of urban temperature on energy consumption of Hong Kong. Energy 31:2623–2637CrossRefGoogle Scholar
  7. 7.
    Avdakovic S, Ademovic A, Nuhanovic A (2013) Correlation between air temperature and electricity demand by linear regression and wavelet coherence approach: UK, Slovakia and Bosnia and Herzegovina case study. Arch Electr Eng 62(4):521–532Google Scholar
  8. 8.
    Hou Qiang (2009) The relationship between energy consumption growths and economic growth in China. Int J Econ Finan 1(2):232–237Google Scholar
  9. 9.
    Chima CM, Freed R (2011) Empirical study of the relationship between energy consumption and gross domestic product in the U.S.A. Int Bus Econ Res J 4:101–114Google Scholar
  10. 10.
    Soytasa U, Sarib R (2003) Energy consumption and GDP: causality relationship in G-7 countries and emerging markets. Energy Econ 25:33–37CrossRefGoogle Scholar
  11. 11.
  12. 12.
    Granić G, Zeljko M, Morankić I, Martinez JA, Olano M, Jurić Ž (2008) Studija energetskog sektora u BiH. Energetski institut Hrvoje Požar, Soluziona, Ekonomski institut Banjaluka, Rudarski institut TuzlaGoogle Scholar
  13. 13.
  14. 14.
    Aldrich J (1995) Correlations genuine and spurious in Pearson and Yule. Stat Sci 10(4):364–376MathSciNetGoogle Scholar
  15. 15.
    Comanac A, De Medici L, Capone M, Millis AJ (2008) Optical conductivity and the correlation strength of high-temperature cooper oxide superconductors. Nat Phys 4:287–290CrossRefGoogle Scholar
  16. 16.
    Evans JD (1996) Straightforward statistics for the behavioral sciences. Brooks/Cole Publishing Company, Pacific GroveGoogle Scholar

Copyright information

© Springer International Publishing AG 2017

Authors and Affiliations

  1. 1.JP Elektroprivreda BiHSarajevoBosnia and Herzegovina

Personalised recommendations