Energy Utilization and Output Dynamics in the Middle East and North Africa Countries Is the Export- and Globalization-Led Hypothesis Valid?

The Middle East and North Africa (MENA) region consist of several countries in a vast area of land spreading across the northern part of the continent of Africa up to the Middle East region in Asia. Over the years, trading activities have notably grown in this region, especially the trade of raw primary commodities such as crude petroleum as many of the countries in this region are vastly endowed with oil and gas reserves. As of 2019, countries in the Middle East region alone accounts for about 48.08% of the global proved crude oil reserves, and the MENA region altogether account for about 45.39% of total global crude oil export (BP 2020). This abundant raw commodity endowment partially explains the trend of the growing volume of trade that was witnessed in the region as production in oil and gas industry does not only stimulate larger exports but also helps in footing large import bills through abundant foreign reserves from oil revenues. As such, trade dynamics are expected to have created attendant effects on the general economic performances of the MENA countries over the years. © 2024 Andrew Adewale Alola, Festus Victor Bekun and Uju Violet Alola.