Foreign trade and energy consumption in Eco: a dynamic econometric study

In this study, the effects of foreign trade, oil prices and income are examined on energy consumption by using dynamic panel techniques with the approach of generalized method of moments (GMM) for 9 of Eco organizations members; during the years 1994-2014. The regression results show that income and Foreign trade (the sum of exports and imports) have positive and significant impact, where oil prices have a significant negative impact, on the consumption of energy. As well as to understand more details on the results, a separately study has been also made in addition to the study of foreign trade in general (Total exports and imports); according to the exports and imports breakdown; they separately have been found to have a significant and positive impact on the consumption of energy.