In 2023, China led the global tax expenditure on petroleum for transportation, followed by Australia and Italy. Year-on-year growth was prominent in Russia at 14.99%, while the United States experienced a decrease of 4.21%. Notably, Belgium saw significant growth of 14.09%, whereas Moldova faced an 8.52% decline. Over the last five years, the compound annual growth rate (CAGR) indicated steady increases in most countries, with standout growth in Eastern Europe, like Ukraine, at 32.14%.
Future trends to monitor include potential shifts due to global energy transition policies, advancements in vehicle electrification, and fluctuations in international oil prices that could reshape the current expenditure landscape.
Top countries in Tax Expenditure on Petroleum for Transportation Share by Country (Million US Dollars, Constant = 2020)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 17.67 | 2023 | +6.1% | +6.11% | View data |
| 2 | 2 Australia | 16.07 | 2023 | +4.86% | +3.49% | View data |
| 3 | 3 Italy | 15.04 | 2023 | +5.2% | +2.24% | View data |
| 4 | 4 France | 13.55 | 2023 | +6.24% | +5.81% | View data |
| 5 | 5 Switzerland | 5.96 | 2023 | +11.78% | +0.58% | View data |
| 6 | 6 South Africa | 5.25 | 2023 | +7.54% | +2.46% | View data |
| 7 | 7 Ireland | 4.69 | 2023 | +8.6% | +0.49% | View data |
| 8 | 8 Sweden | 3.85 | 2023 | +1.34% | +8.98% | View data |
| 9 | 9 Argentina | 3.04 | 2023 | -0.93% | -0.28% | View data |
| 10 | 10 Israel | 2.89 | 2023 | +3.63% | +1.08% | View data |
