The current data reveals a significant variance in direct transfer spending on petroleum services globally, with Mexico leading at 5.85 billion USD. Canada showed a marked increase over the last year (191.63%), while countries like the United States and Japan had moderate increments of 4.38% and 4.89%, respectively. Conversely, countries like Russia and South Korea saw declines, with Russia decreasing by 8.12% and South Korea by 10.36%. Over a five-year period, there were varying levels of growth and decline, highlighting regional disparities in energy policies and economic dependencies.
Future trends to watch include:
- Potential shifts in North American energy strategies, keeping an eye on Mexico and Canada's high variance.
- Europe's evolving approach to energy security might alter spends for countries like Italy and Norway.
- Asia, specifically India's incremental growth, might continue to rise with its growing energy demands.
- Fluctuating geopolitical tensions could significantly impact Russia's investment and policy direction.
Top countries in Direct Transfer on Petroleum for General Services by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Mexico | 5,850 | 2023 | +30.08% | View data | |
| 2 | 2 Canada | 1,960 | 2023 | +32.72% | +191.63% | View data |
| 3 | 3 Japan | 1,820 | 2023 | +1.22% | +4.89% | View data |
| 4 | 4 United States | 438.81 | 2023 | +6.52% | +4.38% | View data |
| 5 | 5 India | 276.79 | 2023 | +3.65% | +19.51% | View data |
| 6 | 6 Colombia | 141.65 | 2023 | -1.26% | -1.01% | View data |
| 7 | 7 Russia | 48.93 | 2023 | -1.74% | -8.12% | View data |
| 8 | 8 China | 48.61 | 2023 | -2.74% | +1.96% | View data |
| 9 | 9 Italy | 47.8 | 2023 | -0.061% | -0.8% | View data |
| 10 | 10 Norway | 31.94 | 2023 | -0.83% | +2.54% | View data |
