According to the IEA's estimates, Southeast Asia’s energy demand to expected increase by more than 80% in the period to 2035, which would correspond to the current energy demand in Japan. This strong rise in energy demand would raise the region's reliance on oil imports and would impose high costs on Southeast Asian economies and leave them more vulnerable to potential disruptions. By 2035, oil imports are expected to increase to just over 5 mb/d, making it the world’s fourth-largest oil importer after China, India and the European Union and doubling its dependency (to 75% of demand). Southeast Asia’s annual spending on oil imports is seen rising to US$240bn in 2035, equivalent to almost 4% of its GDP. Thailand’s and Indonesia’s oil import bills are projected to be the highest in the region, tripling to nearly US$70bn each in 2035. However, energy efficiency measures could help cutting energy demand by almost 15% in 2035 (the gap is equivalent to Thailand's current energy consumption). Efficiency measures would also contribute reducing net oil imports by 700 kb/d, the equivalent of Malaysia's current production.