In 2023, Argentina showed the highest global total support for petroleum at 1.23% of GDP, while Moldova stood at the lowest with 0.015%. Year-on-year variations highlight significant increases in Sweden and Portugal with 9.2% and 9.25% respectively. Notably, Brazil experienced a sharp decline of -38.97%. Over the last five years, the compound annual growth rate (CAGR) indicates a varied landscape with countries like Chile and Portugal expanding their support, contrasting with dramatic decreases in India and Brazil.
Future trends suggest monitoring for technological advances impacting petroleum dependency, geopolitical shifts affecting supply chains, and policy changes emphasizing renewable energy, potentially reducing petroleum support levels globally.
Top countries in Total Support on Petroleum for Consumers by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Argentina | 1.23 | 2023 | +2.94% | +3.89% | View data |
| 2 | 2 South Africa | 0.71 | 2023 | +3.03% | +0.48% | View data |
| 3 | 3 Belgium | 0.63 | 2023 | +1.29% | +1.02% | View data |
| 4 | 4 Chile | 0.56 | 2023 | +7.35% | +5.43% | View data |
| 5 | 5 Greece | 0.49 | 2023 | -3.37% | -1.9% | View data |
| 6 | 6 Ireland | 0.48 | 2023 | +0.84% | -4.55% | View data |
| 7 | 7 Finland | 0.41 | 2023 | +0.73% | +1.36% | View data |
| 8 | 8 Sweden | 0.34 | 2023 | +3.37% | +9.2% | View data |
| 9 | 9 Italy | 0.33 | 2023 | -1.8% | -2.33% | View data |
| 10 | 10 Australia | 0.32 | 2023 | +3.54% | +1.84% | View data |
