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The Impact of Low Oil Prices on the Trade Balance of Balkan Countries and their Energy Security

Author

Listed:
  • Saleh Mothana Obadi

    (UEaM, University of Economics in Bratislava, Slovakia)

  • Igor Kosir

    (Faculty of Political Sciences and International Relations, Slovakia)

  • Matej Korcek

    (Institute of economic research, Slovak Academy of Sciences, Slovakia)

Abstract

This chapter examines the impact of low oil prices in the last years on the trade balance of Balkan countries and their energy security.? The development of oil prices in the last years has a potential impact on all economies. Indeed the impact was positive for crude oil importing economies but in the other hand, negative impact on crude oil exporting economies. According to our analysis, the impact was positive on all Balkan economies, regardless the scale of the impact. The positive impact was clear on the trade balance of all Balkan countries, for example in 2015 they registered a significant decrease in their deficit of trade balance comparing to 2011. For the energy security of Balkan should be insured by other alternative energy resources, among them natural gas and renewable energy resources.

Suggested Citation

  • Saleh Mothana Obadi & Igor Kosir & Matej Korcek, 2017. "The Impact of Low Oil Prices on the Trade Balance of Balkan Countries and their Energy Security," Energy Economics Letters, Asian Economic and Social Society, vol. 4(3), pages 20-27, September.
  • Handle: RePEc:asi:eneclt:2017:p:20-27
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    Cited by:

    1. Igbal ?. Guliev & Shota A. Geladze & Elizaveta S. Sokolova & Larisa I. Egorova, 2020. "The Prospects of Conventional and Alternative Energy Production in the Countries of the Balkan Peninsula (in the Context of Developing Economic Indicators)," International Journal of Energy Economics and Policy, Econjournals, vol. 10(1), pages 481-487.

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