The global tax expenditure on natural gas in 2023 shows the United Kingdom leading with substantial spending, followed by Mexico and China. Significant increases were noted in Mexico (122.89%) and Denmark (37.36%). Conversely, Brazil, the United States, and Germany saw declines, with the U.S. and Brazil experiencing notable reductions in expenditure. Smaller economies such as Norway and Israel saw slight increases, hinting at varying domestic strategies.
Future trends to watch include potential shifts in policy aimed at reducing carbon emissions, which could impact tax expenditures heavily reliant on natural gas. Transitioning to renewable energy sources might alter the landscape of global tax expenditures in the sector. Furthermore, geopolitical factors and energy security will play crucial roles in shaping these spending patterns in the coming years.
Top countries in Tax Expenditure on Natural Gas for All Beneficiaries or Sectors by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 5,720 | 2023 | -1.18% | +1.02% | View data |
| 2 | 2 Mexico | 2,970 | 2023 | +27.82% | +122.89% | View data |
| 3 | 3 China | 1,350 | 2023 | +4.25% | +8.55% | View data |
| 4 | 4 France | 1,300 | 2023 | +5.27% | +2.23% | View data |
| 5 | 5 United States | 1,110 | 2023 | -5.22% | -4.87% | View data |
| 6 | 6 Brazil | 991.19 | 2023 | -14.41% | -14.67% | View data |
| 7 | 7 Germany | 706.6 | 2023 | -6.09% | -5.39% | View data |
| 8 | 8 Denmark | 505.11 | 2023 | +20.79% | +37.36% | View data |
| 9 | 9 Canada | 432.87 | 2023 | -10.68% | -9.88% | View data |
| 10 | 10 Japan | 323.81 | 2023 | +2.76% | +4.19% | View data |
