The global tax expenditure on petroleum for consumers varies notably across countries, with India leading at 9.67 billion USD in 2024 and New Zealand at the lower end with 0.00111 billion USD. Year-on-year variations highlight a rise in Russia's expenditure by 14.99% and a significant reduction in South Korea by 6.36%. Over the past five years, the CAGR illustrates India's high growth and adaptive tax policies compared to stable or decreasing figures in countries like the United States and Germany.
Future trends to watch include potential shifts in consumer demand, influenced by global economic recovery and geopolitical factors, impacting petroleum taxation policy adjustments. A focus on renewable energy investment may also shift trends. Monitoring fluctuations in large markets like China and India will be crucial for understanding global dynamics.
Top countries in Tax Expenditure on Petroleum for Consumers by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 9,670 | 2023 | +6.58% | +8.32% | View data |
| 2 | 2 France | 8,950 | 2023 | +4.7% | +4.07% | View data |
| 3 | 3 Italy | 8,310 | 2023 | +2.89% | +1.97% | View data |
| 4 | 4 United Kingdom | 8,020 | 2023 | +9.54% | +7.44% | View data |
| 5 | 5 China | 6,920 | 2023 | +6.1% | +6.11% | View data |
| 6 | 6 Australia | 4,680 | 2023 | +4.38% | +2.84% | View data |
| 7 | 7 South Africa | 2,560 | 2023 | +6.82% | +2.52% | View data |
| 8 | 8 Switzerland | 2,500 | 2023 | +11.56% | +0.88% | View data |
| 9 | 9 Ireland | 2,210 | 2023 | +6.18% | -0.3% | View data |
| 10 | 10 United States | 1,730 | 2023 | -0.44% | -2.01% | View data |
