In 2023, the United Kingdom led in environmentally related tax revenue from taxes on resources in mining and quarrying, amounting to 93.18 million USD, reflecting a modest year-over-year increase of 1.35%. Conversely, Sweden and Estonia saw declines of 8.2% and 7.26%, respectively, impacting their overall revenue, with Sweden standing at 1.97 million USD and Estonia at 0.93 million USD. Denmark and Latvia registered slight growth, whereas Poland experienced a significant decline of 19.87%, reaching a mere 0.017 million USD. Over the last five years, the compound annual growth rate varied, indicating diverse national policies and economic conditions.
Future trends to watch include the impact of tightening environmental regulations and evolving public sentiment towards sustainable practices. Countries may adjust their tax policies to either incentivize sustainable mining operations or increase tax rates to curb unsustainable practices. Monitoring economic recovery post-pandemic and shifts towards renewable energy could also influence tax revenues from resource extraction activities.
Top countries in Environmentally Related Tax Revenue from Taxes on Resources in Mining and Quarrying Share by Country (Million US Dollars)
| # | 8 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 93.18 | 2023 | +0.86% | +1.35% | View data |
| 2 | 2 Sweden | 1.97 | 2023 | -8.11% | -8.2% | View data |
| 3 | 3 Estonia | 0.93 | 2023 | -5.45% | -7.26% | View data |
| 4 | 4 Cyprus | 0.71 | 2023 | -1.69% | -2.3% | View data |
| 5 | 5 Denmark | 0.66 | 2023 | +1.23% | +2.83% | View data |
| 6 | 6 Latvia | 0.38 | 2023 | +3.45% | +0.71% | View data |
| 7 | 7 Belgium | 0.21 | 2023 | +4.22% | +0.93% | View data |
| 8 | 8 Poland | 0.017 | 2023 | -28.99% | -19.87% | View data |
