In 2023, global tax expenditure on natural gas for fossil fuel production saw significant variations across countries. Mexico led with a sharp 127.87% increase, followed by the United Kingdom at 16.06% and Denmark at 36.21%. Japan and Italy had modest rises of 3.1% and 3.4%, respectively. China showed a slight growth of 1.47%, while the United States experienced a notable decrease of 23.11%. Canada and Brazil also saw declines, at 11.49% and 6.61%. Interestingly, Norway and Russia exhibited minor increases, as did Colombia, Ireland, and Israel, albeit very small.
Looking to future trends, major players like Mexico may continue to show aggressive spending, driven by policy changes or energy strategy shifts. Conversely, countries with declining expenditures, such as the United States and Canada, may be moving towards alternative energy investments. Governments may increasingly focus on sustainability and energy transition, impacting tax expenditure on fossil fuel production worldwide.
Top countries in Tax Expenditure on Natural Gas for Fossil Fuel Production by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Mexico | 3,180 | 2023 | +28.32% | +127.87% | View data |
| 2 | 2 United Kingdom | 2,890 | 2023 | +8.06% | +16.06% | View data |
| 3 | 3 Japan | 339.92 | 2023 | +0.9% | +3.1% | View data |
| 4 | 4 Canada | 321.35 | 2023 | -12.74% | -11.49% | View data |
| 5 | 5 Denmark | 279.48 | 2023 | +19.56% | +36.21% | View data |
| 6 | 6 Brazil | 203.21 | 2023 | -8.41% | -6.61% | View data |
| 7 | 7 China | 187.93 | 2023 | -28.61% | +1.47% | View data |
| 8 | 8 United States | 185.24 | 2023 | -32.35% | -23.11% | View data |
| 9 | 9 Colombia | 143.07 | 2023 | +7.45% | +0.45% | View data |
| 10 | 10 Ireland | 109.95 | 2023 | +21.36% | +0.63% | View data |
