The Top Ten Countries with the Highest Tax Rates

The Top Ten Countries with the Highest Tax Rates

Only two things in life are certain – death and taxes. And for some, an extremely high tax rate is equivalent to death. But then again, for most people, any tax rate greater than 0 percent is considered excessive.

In France, there have been proposals to increase the tax rate for those earning more than $1.23 million to 75 percent from the current 48 percent. In the United States, the top tax rate stands at 35 percent, with proposals calling for its increase to 39.6 percent. It was one of the most contentious issues during the last presidential elections.

It is worth noting, however, that in the case of France, only a miniscule .046 percent of the population would be affected by the proposal to increase the tax rate for the upper echelon of society. In the United States, the most vociferous of those who oppose the increase are billionaire businessmen. The last time the United States had such a high tax rate was during the Clinton administration, and those years were marked by economic prosperity.

Maybe they would not complain too much if they compare the rates being levied upon them to those being charged to the upper echelon in other countries. Here are the top ten countries with the highest tax rates in the world.

1. Aruba – 58.95 percent for those with income of at least $171,149

The country is known to have the highest standard of living in the Caribbean. This Dutch territory has the highest income tax rate in the world. It actually used to hover above 60 percent back in 2007. Married individuals who meet the income requirement are charged a slightly lower 55.85 percent. The country also has a 25 percent tax on capital gains. The rate is double than the average rate in the Caribbean, and especially astounding considering the zero income tax regime in the Bahamas, Bermuda and Cayman Islands.

2. Sweden – 56.6 percent for those with income of at least $85,841

Sweden is a welfare state where citizens get free education and subsidized healthcare. Everyone is also guaranteed a basic pension. Even public transportation is subsidized. All these are the results of an aggressive tax scheme by the Swedish government in which those with extremely high incomes are levied a tax rate of 56.6 percent. As this rate will only kick for those with income of $85,841, most Swedes do not worry about it as it is way above the average income of $48,800. Sweden also has a 30 percent tax on investment income, as well as significant rates for property holdings and social security.

3. Denmark – 55.38 percent for those with income of at least $70,633

This rate is actually an adjusted rate already, as the top marginal rate used to be 62.3 percent in 2008.  Denmark also taxes dividend income by 28 percent and capital gains by 42 percent. Even the Danish church is not exempt, as they are liable for taxes ranging from 0.4 to 1.5 percent.  Gifts to relatives over a certain threshold amount are also subject to 15 percent tax.

4. Netherlands – 52 percent for those with income of at least $70,090

The Netherlands has the highest tax rate in Western Europe, where the regional average stands at 45.7 percent. Its government also charges capital gains tax of 25 percent, land transfer tax of 6 percent and inheritance tax of up to 40 percent. Average income in the country is $57,000.

5. Belgium – 50 percent for those with income of at least $45,037

Just like its neighbor the Netherlands, Belgium’s tax rate is higher than the average for the region. It also charges a social security rate of 13 percent for employees and 35 percent for employers, municipal taxes of up to 11 percent, and capital gains tax of up to 33 percent. The country actually has the highest tax and social security burden in the world, with single taxpayers taking home less than 45 percent of their actual income.  Those in the higher income brackets take home less than 40 percent. Average income in the country is $45,037.

6. Austria – 50 percent for those with income of at least $74,442

Austria is one of the best places to live, so long as you are willing to pay for that privilege. Aside from the high income tax rate, it also has a social security rate of 18 percent, bonus payments are charged 6 percent, and capital gains tax is at 25 percent. Money stashed away in Swiss banks is also taxed through a special agreement between the Swiss and Austrian governments.

7. Japan – 50 percent for those with income of at least $228,880

Japan has the highest income tax rate in the whole of Asia, where the average is only at 23 percent. Note however that the high rate only kicks in at $228,880, which is an extremely high income level in a country where the average income is $53,200.

8. United Kingdom – 50 percent for those with income of at least $234,484

This will only last until April 2013, when the rate will be cut to 45 percent. Those earning less than $14,300 are exempted from paying taxes. Social security taxes can be as much as 14 percent, while capital gains can reach 28 percent.

9. Finland – 49.2 percent for those with income of at least $87,222

The top rate used to be 53.5 percent, but this was cut in recent years. Municipal tax can be as much as 21.5 percent, and a church tax of up to 2 percent. Capital gains can reach 28 percent. The government plans to increase taxes in 2015, with the new rates targeting high income and pension owners and those receiving inheritances above $1.3 million.

10. Ireland – 48 percent for those with income of at least $40,696

The top marginal rate has been increasing steadily the past few years, as it stood at only 45 percent in 2008. Social security tax is at 4 percent. Taxes on gifts, inheritances and capital gains can reach as much as 30 percent. It has the lowest corporate tax rate in Europe, however, at only 12.5 percent.

World War 1

World War I Begins (1914)
On July 5, Kaiser Wilhelm secretly pledged his support, giving Austria-Hungary a so-called carte blanche or "blank check" assurance of Germany's backing in the case of war. The Dual Monarchy then sent an ultimatum to Serbia, with such harsh terms as to make it almost impossible to accept. Convinced that Vienna was readying for war, the Serbian government ordered the Serbian army to mobilize, and appealed to Russia for assistance. On July 28, Austria-Hungary declared war on Serbia, and the tenuous peace between Europe's great powers collapsed. Within a week, Russia, Belgium, France, Great Britain and Serbia had lined up against Austria-Hungary and Germany, and World War I had begun.
On July 5, Kaiser Wilhelm secretly pledged his support, giving Austria-Hungary a so-called carte blanche or "blank check" assurance of Germany's backing in the case of war. The Dual Monarchy then sent an ultimatum to Serbia, with such harsh terms as to make it almost impossible to accept. Convinced that Vienna was readying for war, the Serbian government ordered the Serbian army to mobilize, and appealed to Russia for assistance. On July 28, Austria-Hungary declared war on Serbia, and the tenuous peace between Europe's great powers collapsed. Within a week, Russia, Belgium, France, Great Britain and Serbia had lined up against Austria-Hungary and Germany, and World War I had begun.

World War I's Western Front (1914-17)
In the First Battle of the Marne, fought from September 6-9, 1914, French and British forces confronted the invading Germany army, which had by then penetrated deep into northeastern France, within 30 miles of Paris. Under the French commander Joseph Joffre, the Allied troops checked the German advance and mounted a successful counterattack, driving the Germans back to north of the Aisne River. The defeat meant the end of German plans for a quick victory in France. Both sides dug into trenches, and began the bloody war of attrition that would characterize the next three years on World War I’s Western Front. Particularly long and costly battles in this campaign were fought at Verdun (February-December 1916) and the Somme (July-November 1916); German and French troops suffered close to a million casualties in the Battle of Verdun alone.
In the First Battle of the Marne, fought from September 6-9, 1914, French and British forces confronted the invading Germany army, which had by then penetrated deep into northeastern France, within 30 miles of Paris. Under the French commander Joseph Joffre, the Allied troops checked the German advance and mounted a successful counterattack, driving the Germans back to north of the Aisne River. The defeat meant the end of German plans for a quick victory in France. Both sides dug into trenches, and began the bloody war of attrition that would characterize the next three years on World War I’s Western Front. Particularly long and costly battles in this campaign were fought at Verdun (February-December 1916) and the Somme (July-November 1916); German and French troops suffered close to a million casualties in the Battle of Verdun alone.

World War I's Eastern Front and Revolution in Russia (1914-17)

Over the next two years, the Russian army mounted several offensives on the Eastern Front but were unable to break through German lines. Defeat on the battlefield fed the growing discontent among the bulk of Russia's population, especially the poverty-stricken workers and peasants, and its hostility towards the imperial regime. This discontent culminated in the Russian Revolution of 1917, spearheaded by Vladimir Lenin and the Bolsheviks. One of Lenin's first actions as leader was to call a halt to Russian participation in World War I. Russia reached an armistice with the Central Powers in early December 1917, freeing German troops to face the other Allies on the Western Front. 
Over the next two years, the Russian army mounted several offensives on the Eastern Front but were unable to break through German lines. Defeat on the battlefield fed the growing discontent among the bulk of Russia's population, especially the poverty-stricken workers and peasants, and its hostility towards the imperial regime. This discontent culminated in the Russian Revolution of 1917, spearheaded by Vladimir Lenin and the Bolsheviks. One of Lenin's first actions as leader was to call a halt to Russian participation in World War I. Russia reached an armistice with the Central Powers in early December 1917, freeing German troops to face the other Allies on the Western Front. 

Gallipoli Campaign (1915-16) and Battles of the Isonzo (1915-17)
British-led forces also combated the Turks in Egypt and Mesopotamia, while in northern Italy Austrian and Italian troops faced off in a series of 12 battles along the Isonzo River, located at the border between the two nations. The First Battle of the Isonzo took place in the late spring of 1915, soon after Italy's entrance into the war on the Allied side; in the Twelfth Battle of the Isonzo, or the Battle of Caporetto (October 1917), German reinforcements helped Austria-Hungary win a decisive victory. After Caporetto, Italy's allies jumped in to offer increased assistance. British and French--and later American--troops arrived in the region, and the Allies began to take back the initiative on the Italian Front.
British-led forces also combated the Turks in Egypt and Mesopotamia, while in northern Italy Austrian and Italian troops faced off in a series of 12 battles along the Isonzo River, located at the border between the two nations. The First Battle of the Isonzo took place in the late spring of 1915, soon after Italy's entrance into the war on the Allied side; in the Twelfth Battle of the Isonzo, or the Battle of Caporetto (October 1917), German reinforcements helped Austria-Hungary win a decisive victory. After Caporetto, Italy's allies jumped in to offer increased assistance. British and French--and later American--troops arrived in the region, and the Allies began to take back the initiative on the Italian Front.

World War I at Sea (1914-17)
It was Germany's policy of unchecked submarine aggression against shipping interests headed to Great Britain that helped bring the United States into World War I in 1917. Widespread protest over the sinking by U-boat of the British ocean liner Lusitania in May 1915 helped turn the tide of American public opinion steadfastly against Germany, and in February 1917 Congress passed a $250 million arms appropriations bill intended to make the United States ready for war. Germany sunk four more U.S. merchant ships the following month and on April 2 President Woodrow Wilson appeared before Congress and called for a declaration of war against Germany.

It was Germany's policy of unchecked submarine aggression against shipping interests headed to Great Britain that helped bring the United States into World War I in 1917. Widespread protest over the sinking by U-boat of the British ocean liner Lusitania in May 1915 helped turn the tide of American public opinion steadfastly against Germany, and in February 1917 Congress passed a $250 million arms appropriations bill intended to make the United States ready for war. Germany sunk four more U.S. merchant ships the following month and on April 2 President Woodrow Wilson appeared before Congress and called for a declaration of war against Germany.

Toward an Armistice (1917-18)

 
The Second Battle of the Marne turned the tide of war decisively towards the Allies, who were able to regain much of France and Belgium in the months that followed. By the fall of 1918, the Central Powers were unraveling on all fronts. Despite the Turkish victory at Gallipoli, later defeats by invading forces and an Arab revolt had combined to destroy the Ottoman economy and devastate its land, and the Turks signed a treaty with the Allies in late October 1918. Austria-Hungary, dissolving from within due to growing nationalist movements among its diverse population, reached an armistice on November 4. Facing dwindling resources on the battlefield, discontent on the home front and the surrender of its allies, Germany was finally forced to seek an armistice on November 11, 1918, ending World War I. 
The Second Battle of the Marne turned the tide of war decisively towards the Allies, who were able to regain much of France and Belgium in the months that followed. By the fall of 1918, the Central Powers were unraveling on all fronts. Despite the Turkish victory at Gallipoli, later defeats by invading forces and an Arab revolt had combined to destroy the Ottoman economy and devastate its land, and the Turks signed a treaty with the Allies in late October 1918. Austria-Hungary, dissolving from within due to growing nationalist movements among its diverse population, reached an armistice on November 4. Facing dwindling resources on the battlefield, discontent on the home front and the surrender of its allies, Germany was finally forced to seek an armistice on November 11, 1918, ending World War I. 

World War I's Legacy
At the peace conference in Paris in 1919, Allied leaders would state their desire to build a post-war world that would safeguard itself against future conflicts of such devastating scale. The Versailles Treaty, signed on June 28, 1919, would not achieve this objective. Saddled with war guilt and heavy reparations and denied entrance into the League of Nations, Germany felt tricked into signing the treaty, having believed any peace would be a "peace without victory" as put forward by Wilson in his famous Fourteen Points speech of January 1918. As the years passed, hatred of the Versailles treaty and its authors settled into a smoldering resentment in Germany that would, two decades later, be counted among the causes of World War II.
At the peace conference in Paris in 1919, Allied leaders would state their desire to build a post-war world that would safeguard itself against future conflicts of such devastating scale. The Versailles Treaty, signed on June 28, 1919, would not achieve this objective. Saddled with war guilt and heavy reparations and denied entrance into the League of Nations, Germany felt tricked into signing the treaty, having believed any peace would be a "peace without victory" as put forward by Wilson in his famous Fourteen Points speech of January 1918. As the years passed, hatred of the Versailles treaty and its authors settled into a smoldering resentment in Germany that would, two decades later, be counted among the causes of World War II.

Though tensions had been brewing in Europe--and especially in the troubled Balkan region--for years before conflict actually broke out, the spark that ignited World War I was struck in Sarajevo, Bosnia, where Archduke Franz Ferdinand, nephew of Emperor Franz Josef and heir to the Austro-Hungarian Empire, was shot to death along with his wife by the Serbian nationalist Gavrilo Princip on June 28, 1914. The assassination of Franz Ferdinand and Sophie set off a rapid chain of events: Austria-Hungary, like many in countries around the world, blamed the Serbian government for the attack and hoped to use the incident as justification for settling the question of Slavic nationalism once and for all. As Russia supported Serbia, Austria-Hungary waited to declare war until its leaders received assurances from German leader Kaiser Wilhelm II that Germany would support their cause in the event of a Russian intervention, which would likely involve Russia's ally, France, and possibly Great Britain as well. 

According to an aggressive military strategy known as the Schlieffen Plan (named for its mastermind, German Field Marshal Alfred von Schlieffen), Germany began fighting World War I on two fronts, invading France through neutral Belgium in the west and confronting mighty Russia in the east. On August 4, 1914, German troops under Erich Ludendorff crossed the border into Belgium, in violation of that country's neutrality. In the first battle of World War I, the Germans assaulted the heavily fortified city of Liege, using the most powerful weapons in their arsenal--enormous siege cannons--to capture the city by August 15. Leaving death and destruction in their wake, including the shooting of civilians and the deliberate execution of Belgian priest, whom they accused of inciting civilian resistance, the Germans advanced through Belgium towards France. 

On the Eastern Front of World War I, Russian forces invaded East Prussia and German Poland, but were stopped short by German and Austrian forces at the Battle of Tannenberg in late August 1914. Despite that victory, the Red Army assault had forced Germany to move two corps from the Western Front to the Eastern, contributing to the German loss in the Battle of the Marne. Combined with the fierce Allied resistance in France, the ability of Russia's huge war machine to mobilize relatively quickly in the east ensured a longer, more grueling conflict instead of the quick victory Germany had hoped to win with the Schlieffen Plan. 

With World War I having effectively settled into a stalemate in Europe, the Allies attempted to score a victory against the Ottoman Empire, which had entered the conflict on the side of the Central Powers in late 1914. After a failed attack on the Dardanelles (the strait linking the Sea of Marmara with the Aegean Sea), Allied forces led by Britain launched a large-scale land invasion of the Gallipoli Peninsula in April 1915. The invasion also proved a dismal failure, and in January 1916 Allied forces were forced to stage a full retreat from the shores of the peninsula, after suffering 250,000 casualties. 

After the Battle of Dogger Bank in January 1915, the German navy chose not to confront Britain's mighty Royal Navy in a major battle for more than a year, preferring to rest the bulk of its strategy at sea on its lethal U-boat submarines. The biggest naval engagement of World War I, the Battle of Jutland (May 1916) left British naval superiority on the North Sea intact, and Germany would make no further attempts to break the Allied naval blockade for the remainder of the war. 

With Germany able to build up its strength on the Western Front after the armistice with Russia, Allied troops struggled to hold off another German offensive until promised reinforcements from the United States were able to arrive. On July 15, 1918, German troops under Erich von Ludendorff launched what would become the last German offensive of the war, attacking French forces (joined by 85,000 American troops as well as some of the British Expeditionary Force) in the Second Battle of the Marne. Thanks in part to the strategic leadership of the French commander-in-chief, Philippe Petain, the Allies put back the German offensive, and launched their own counteroffensive just three days later. After suffering massive casualties, Ludendorff was forced to call off a planned German offensive further north, in the Flanders region stretching between France and Belgium, which he had envisioned as Germany's best hope of victory. 

World War I took the life of more than 9 million soldiers; 21 million more were wounded. Civilian casualties caused indirectly by the war numbered close to 10 million. The two nations most affected were Germany and France, each of which sent some 80 percent of their male populations between the ages of 15 and 49 into battle. The war also marked the fall of four imperial dynasties--Germany, Austria-Hungary, Russia and Turkey. 

Top 10 Cars That Only Billionaires Can Afford

Luxury dream cars are oftentimes associated only with the wealthiest class. These super expensive cars come from different manufacturers and companies and in reality, one will need a large amount of money in order to buy these cars. Well, as the saying goes, “if you have to ask, then you probably can’t afford it”. Surely, the majority of the world’s population will never see these cars upfront, let alone own one. However, this does not prevent one from admiring some of the finest pieces of cars that the world has to offer. So, here are the top ten most expensive cars in the world that only billionaires can afford.

10. McLaren F1 – $1,000,000

Despite the fact that it has been over a decade since its debut, the McLaren F1 still remains as one of the fastest cars ever created. It was designed to have an unbelievable speed of 240 mph, reaching around 60 mph in just 3 seconds. Aside from its speed, McLaren F1 is also one of the most expensive cars on the globe. It is worth $1 million and is often referred to as a supercar featuring seating for three persons and packed with luxury amenities. One more thing about the F1 is that it is very rare, with only 106 units produced.

9. McLaren P1 – $1,100,000

The McLaren cars are known to be among the most luxurious in the world. The McLaren P1 is also included in our list of the most expensive cars that only billionaires can afford. The P1 is a very impressive car, featuring an electric motor that is attached at the back of a 3.8-liter twin turbo V8. This motor creates 903 horsepower, and has a speed of 217 mph. With this speed, the P1 can reach 60 mph in less than three seconds. Like the F1, the P1 is also rare. There were only 375 units made in its manufacturing history. This luxury car is worth $1.1 million.

8. Hennessey Venom GT  – $1,100,000

Hennessey Performance Engineering is known for producing cars that are speed-slashers, just like their Venom GT Spyder. This car features 1,500 horsepower and a 7.0 liter twin turbo V8 engine. The Hennessey Venom GT is so fast that it can reach 60 mph in just two seconds. It has a top speed of 287 mph and is worth $1.1 million.

7. Zenvo ST1 – $1,200,000

Denmark may not have been known for its automobiles but the Zenvo ST1 gives the country a mark on the map as a producer of high-end luxury cars. The Zenvo ST1 has a 7.0 liter V8 engine that is both supercharged and turbocharged. The engine powers the car to run 233 mph, reaching 60 mph in just three seconds. It is sold for $1.2 million as the company only produces three units of this car annually.

6. Maybach Landaulet – $1,200,000

Among the sleek and most expensive supercars, the slowest is the Maybach Landaulet. It is a 4-door limousine-like vehicle that features a convertible roof. Whoever owns this car is recommended to have his/her own driver. It features an automatic partition between driver and passenger, an intercom system between the front and rear, hand-polished champagne flutes and a rear-seat refrigerator that would add to its $1.3 million price tag.

5. Ferrari LaFerrari – $1,300,000

The next in line in the Enzo supercar is Maranello’s $1.3 million Ferrari LaFerrari. It is described by many as very stunning and sometimes, words are not enough to describe the beauty of the car. This Italian stallion releases a powerful 789 hp and 516 lb-ft of torque. With an electric motor that powers the Kinetic Energy Recovery System (KERS), the power output of this car can increase up to 950 hp and 664 lb-ft torque. It is a rare model and there are only 499 units produced for the market.

4. Koenigsegg Agera R $1,600,000

The Koenigsegg Agera R is one of the fastest cars ever made. This $1.6 million car runs on a 5.0 liter twin-turbo V8 engine, has a maximum output of 885-lb ft and an astounding 1,115 horsepower. This car only takes less than three seconds (2.9) to race from 0-60 with an ultimate top speed of 260 mph. The owners of the Agera R must first sign a waver for the Swedes to unlock and increase the speed limit to 270 mph.

3. Lamborghini Reventon – $1,610,000

The $1.6 million Lamborghini Reventon is the third most expensive car and originates from Sant’Agata Bolognese. It gets its name from a prized Spanish fighting bull that fought during the 1940′s. It features a 6.5-liter v12 engine that makes 650 hp and 478 lb-ft of torque. The top speed is estimated at 211 mph while the sprint to 60 mph takes 3.4 seconds. The manufacturers of this car only made 20 units, which is why it comes at such a high price tag.

2. W Motors Lykan Hypersport $3,400,000

Middle East’s first supercar is the W Motor’s Lykan Hypersport, which is sold for $3.4 million. It has a top speed of 245 mph, thanks to its turbocharged 6-cylinder engine. Amazingly, it can reach 60 mph in just 2.7 seconds. Aside from its nerve-racking speed, it also has gold-stitched leather seats, LED lights coated with diamonds, and a holographic interface. These features made the Lykan Hypersport the first ever sports car to have such catchy aesthetics.

1. Lamborghini Veneno – $4,000,000

Lamborghini has always been known for producing fancy and luxurious cars. Every car they launch seems to be jaw-dropping, just like their Lamborghini Veneno. The Veneno was made as a celebration for its 50 years in service. The car features a 6.5 liter V12 engine that produces around 750 horsepower. Its speed can get up to 221 mph, reaching 60 mph in only 2.8 seconds. However, only three units of the Veneno have ever been produced.

World's top 10 electricity producing countries

Hub to Produce electricity

Electricity is most essential necessity of life, According to an estimate in 2010 world’s total electric production, from the different sources was 21,325,115 (GWh). It is estimated that USA and China are the leading countries in producing electricity in the world, they produces near about more than 30% of the world’s production which is a record if compared to all other countries.

Rank	Country	Electricity - production (TWh)
1	China	4,604
2	United States	3,953
3	Japan	937.6
4	Russia	925.9
5	India	835.3
6	Canada	604.4
7	Germany	556.4
8	France	510
9	Brazil	509.2
10	Korea, South	459.5

Definition: This entry is the annual electricity generated expressed in kilowatt-hours. The discrepancy between the amount of electricity generated and/or imported and the amount consumed and/or exported is accounted for as loss in transmission and distribution with electricity forming an increasing share of the world's total energy demand and electricity use growing more rapidly than consumption of liquid fuels, natural gas, or coal, the total world electricity generation grew by 4.1 percent in 2012.

(All units of electricity are measured in Terawatt-hours. 1 TWh = 1000,000 MWh)

China: - With a whopping 4604 TWh of electricity produced, China is number one in terms of electricity production in the world. After the Electric Power Law was implemented, the development of the power industry soared and regulated production, distribution and consumption.

USA:- Majority of its energy USA’s derived from fossil fuels, but U.S. power plants use renewable energy sources—water (hydroelectric), wood, wind, organic waste, geothermal, and sun — to generate about 13 percent of the country’s electricity needs. It produced 3953 TWh of electricity.

Japan: - which produced 937.6 TWh of electricity, is one of the major exporters of energy-sector capital equipment, and has a strong energy research and development (R&D) program supported by the government, which pursues energy efficiency measures domestically in order to increase the country’s energy security and reduce carbon dioxide emissions.

Russia: - Federation holds the world’s second largest coal reserves and produces most of its electricity from natural gas and coal. It produced 925.9 TWh of electricity. Russia exports electricity to Latvia, Lithuania, Poland and Turkey among other countries.

India: - In terms of fuel, coal-fired plants account for 56 percent of India's installed electricity capacity, renewal hydropower accounts for 19 percent, renewable energy for 12 percent and natural gas for about 9 percent. India produced 835.3 TWh of electricity.

Canada: - provinces, large government-owned integrated public utilities play a leading role in the generation, transmission and distribution of electricity. The country produced 604.4 TWh of electricity.

Germany: - which set a solar power record by producing 22 gigawatts of electricity per hour produced 556.4 TWh of electricity. However, the main source of the country’s electricity production is coal.

France: - Nuclear power is the primary source of electric power in France. France's nuclear power industry has been called a success story that has put the nation ahead in terms of providing cheap, pollution free energy. It produced 510 TWh of electricity.

Brazil: - with a production of 509.2 TWh has the largest electricity market in South America. The country has the largest capacity for water storage in the world, being highly dependent on hydroelectricity generation capacity, which meets over 80 percent of its electricity demand.

South Korea: - Energy producers in South Korea were dominated by government enterprises, although privately operated coal mines and oil refineries also existed. The country produced 459.5 TWh of electricity.