Energy sector competitiveness in E-7 countries: Evidence from panel data analysis

This study uses the Balassa Revealed Comparative Advantage (RCA) index and the Net Export Index (NEI) to examine the export competitiveness of energy sub-product groups in the E-7 countries (Brazil, Russia, India, China, Indonesia, Mexico and Türkiye) over the period 2005–2024. According to the Balassa index, Russia demonstrates very strong specialisation in crude oil and natural gas, while Brazil, Mexico and Indonesia demonstrate strong specialisation in crude oil. Panel data analysis reveals that energy prices, per capita GDP, per capita energy consumption and renewable energy consumption positively and statistically significantly affect energy exports, whereas real exchange rate appreciation has a negative impact on energy exports. The findings highlight significant polarisation within the E-7 group and emphasize the importance of diversifying energy exports towards renewable technologies and green hydrogen. This study makes a valuable contribution to the existing literature by providing a long-panel, product-level analysis and robust econometric evidence on the factors that influence the performance of energy exports in major emerging economies.