In 2023, Russia had the highest financial support for fossil fuel production among the listed countries. India and Mexico followed with significant increases, with Mexico witnessing an extraordinary growth rate. The United Kingdom also saw substantial increases, contrasting with declines in key EU countries like Germany and notable drops in Brazil and Belarus. Denmark and Lithuania showed remarkable year-on-year growth, while Lithuania's support skyrocketed over five years. On the other hand, countries like Slovenia and New Zealand experienced steady reductions.
Looking ahead, expect shifts as more countries commit to renewables, potentially decreasing fossil fuel subsidies, especially in Europe. Monitoring policy changes in emerging economies like India and Mexico will be crucial for future projections.
Top countries in Total Support on All Fossil Fuels for Fossil Fuel Production Share by Country (Million US Dollars, Constant = 2020)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Russia | 24.3 | 2023 | +13.94% | -1.28% | View data |
| 2 | 2 India | 15.7 | 2023 | +6.69% | +6.62% | View data |
| 3 | 3 Mexico | 13.82 | 2023 | +18.67% | +128.83% | View data |
| 4 | 4 United Kingdom | 13.33 | 2023 | +8.23% | +17.37% | View data |
| 5 | 5 China | 7.8 | 2023 | +0.54% | +1.48% | View data |
| 6 | 6 Japan | 5.25 | 2023 | +1.09% | +5.54% | View data |
| 7 | 7 Germany | 3.18 | 2023 | -3.11% | -0.054% | View data |
| 8 | 8 Poland | 2.92 | 2023 | +5.98% | -4.45% | View data |
| 9 | 9 Argentina | 2.33 | 2023 | +6.45% | -4.15% | View data |
| 10 | 10 Canada | 2.06 | 2023 | -2.36% | +1.69% | View data |
