In 2024, global spending on imported electricity reached approximately US$62 billion.

Looking at longer-term trends, worldwide electricity import values have risen sharply over the past five years. Compared with 2020, when total imports were worth US$29.3 billion, the overall cost has surged by an average of 111.4%.

However, on a year-on-year basis, global electricity imports showed a contraction. Total import value declined by 16.9% from US$74.7 billion in 2023, reflecting weaker demand or improved domestic generation in some markets.

Major Electricity-Importing Nations

The largest importers of electrical energy in 2024 were primarily European countries. Germany, Italy, the United Kingdom, Hungary, and Switzerland ranked as the top five buyers. Together, these five nations accounted for 36.5% of total global electricity import value.

From a regional perspective, Europe dominated electricity imports, spending US$47.4 billion, which represented 76.4% of the global total. Asia followed at 11.3%, while North America accounted for 5.1%.

Meanwhile, Africa absorbed 3.9% of worldwide electricity imports. Latin America and the Caribbean (excluding Mexico) made up another 3.3%. Notably, Oceania, including Australia and New Zealand, recorded no electricity imports during the year.

For reference, electrical energy is classified under the HS code 2716 in the Harmonized System.

Top 15 Electricity Importers in 2024

The following countries recorded the highest spending on imported electricity in 2024:

1. Germany: US$7.2 billion (11.5%)

2. Italy: US$5.6 billion (9%)

3. United Kingdom: US$3.94 billion (6.4%)

4. Hungary: US$3.87 billion (6.2%)

5. Switzerland: US$2.33 billion (3.7%)

6. United States: US$2.26 billion (3.6%)

7. Thailand: US$2.1 billion (3.4%)

8. Belgium: US$1.8 billion (3%)

9. Slovakia: US$1.7 billion (2.8%)

10. Romania: US$1.6 billion (2.6%)

11. Netherlands: US$1.56 billion (2.5%)

12. Austria: US$1.5 billion (2.4%)

13. Spain: US$1.48 billion (2.4%)

14. Denmark: US$1.32 billion (2.1%)

15. Poland: US$1.28 billion (2.1%)

Altogether, these 15 countries represented 63.8% of global electricity import expenditures by value.

Import Growth and Declines

Among the major importing countries, the fastest expansion in electricity imports since 2023 was recorded by Romania (+28.1%), followed by Thailand (+8.3%) and the United Kingdom (+0.6%).

In contrast, several countries saw sharp reductions in electricity import spending. Poland experienced the steepest decline (-49.1%), followed by Switzerland (-43.6%), Austria (-38.1%), and the United States (-34.5%).

Top Electricity Importers by Company

According to Tendata, the leading corporate electricity importers in 2024 were:

1. TẬP ĐOÀN ĐIỆN LỰC VIỆT NAM – 6.76% (US$204.32 million)

2. АО САЛЕХАРДЭНЕРГО – 5.51% (US$166.51 million)

3. INOX WIND LTD – 5.49% (US$165.85 million)

4. MAİS MOTORLU ARAÇLAR İMAL VE SATIŞ A.Ş. – 3.1% (US$93.64 million)

5. CÔNG TY CỔ PHẦN CASPER SE – 3.06% (US$92.58 million)

6. SENVION WIND TECHNOLOGY PRIVATE LIMITED – 2.79% (US$84.16 million)

7. АО АЭРОМАР – 2.59% (US$78.27 million)

8. GAMESA RENEWABLE PRIVATE LIMITED – 1.97% (US$59.46 million)

9. SOLARTEM – 1.91% (US$57.73 million)

10. SUZLON ENERGY LIMITED – 1.88% (US$56.8 million)