The global tax expenditure on fossil fuels for producers reveals substantial disparities among countries. As of 2023, Mexico leads with $15.89 billion, showing a significant increase of 241.62%. In contrast, Russia's expenditure decreased by 2.71% to $14.55 billion. The United Kingdom and the United States experienced notable increases of around 14%, while Germany, Canada, and Greece saw declines. Lower values in countries like Italy and Austria reflect decreased tax expenditures, with values below $0.04 billion, which were subject to contraction averaging over 6% annually. Lithuania had the smallest expenditure, remaining constant at an extremely low level.
Future trends suggest closer scrutiny of fossil fuel support, especially in nations with high expenditures like Mexico and Russia. Increasing global awareness of environmental impacts could spur shifts to greener tax policies and diversified energy sources, potentially reducing fossil fuel subsidies. Watch for policy shifts in environmentally stringent regions such as Europe and the OECD, aiming to curb reliance on fossil fuels and promote sustainable alternatives.
Top countries in Tax Expenditure on All Fossil Fuels for Producers by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Mexico | 15,890 | 2023 | +28.48% | +241.62% | View data |
| 2 | 2 Russia | 14,550 | 2023 | +14.42% | -2.71% | View data |
| 3 | 3 United Kingdom | 6,020 | 2023 | +5.73% | +14.67% | View data |
| 4 | 4 United States | 3,080 | 2023 | +1.73% | +14.57% | View data |
| 5 | 5 Australia | 2,580 | 2023 | +4.7% | +2.59% | View data |
| 6 | 6 Germany | 1,220 | 2023 | -10.93% | -10.07% | View data |
| 7 | 7 Denmark | 750.6 | 2023 | +20.6% | +37.34% | View data |
| 8 | 8 Canada | 590.6 | 2023 | -11.91% | -11.66% | View data |
| 9 | 9 France | 443.09 | 2023 | +10.55% | +2.24% | View data |
| 10 | 10 Japan | 395.27 | 2023 | +2.49% | +3.81% | View data |
