Changes of EU Countries Positions in the International Trade of Mineral Fuels, Lubricants and Related Materials in 2016-2020: Influence of Coronavirus Pandemic
Purpose: The purpose of this paper is an explanation of a dependency of all countries of the European Union on fuel imports in spite of EU activities to limit this dependency by using renewable energy. Moreover, Author considers a decrease of this dependency connected with the coronavirus pandemic. Changes of positions of particular EU member-countries in the international trade of mineral fuels, lubricants and related materials, (named fuels in this article) are helpful to understand their various situations of dependency on fuel imports. Design/Methodology/Approach: The design is finding the efficiency of the EU energy policy and the importance of the recession of 2020 caused by the corona pandemic to decrease the EU dependency on the fuel imports and perspectives to change this situation. The research method is a describing political-economic analysis that bases on statistical data. The approach covers a description of changing positions of particular EU countries in international trade of fuels including importance of fuels in their exports and imports of all products. Findings: The following countries were the most important net importers of fuels in 2019: Germany, France, Italy, Spain, United Kingdom and Poland. In 2016, the first five countries had the same places. Poland obtained the eight position in 2016.The first four countries had the same positions in 2020. Poland obtained the fifth position in 2020 (after Brexit). Moreover, trade deficit in fuels of all EU countries deepened in 2016-2019 in spite of the pro-ecological EU energy policy. The EU energy policy and the recession caused by the coronavirus pandemic together limited the EU dependency on the fuel imports in 2020. Practical Implications: The result can be considered to elaborate the short-term and long-term EU energy policy. Originality/Value: Original research paper.