In 2024, Ukraine leads in global total support for fossil fuels in residential sectors at 1.68% of GDP, despite a 0.92% decrease from 2023. South Africa exhibits the most significant positive change with a 12.62% increase, while Greece and Italy show moderate growth at 3.88% and 3.19%, respectively. Conversely, Azerbaijan, Indonesia, and Mexico experience notable reductions in support, with declines of 11.38%, 25.45%, and 27.93%. Developed nations like the United States and China reflect diverging trends; the U.S. reduced support by 9.71%, whereas China increased by 10.76%.
Future trends to watch for include the impact of global policies to cut carbon emissions. Increasing investment in renewable energy sources is likely to result in decreased reliance on fossil fuels. The ongoing geopolitical developments and economic recovery efforts post-pandemic could further influence the extent of support for fossil fuels, especially in countries with high dependency on these energy sources.
Top countries in Total Support on All Fossil Fuels for Residential by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Ukraine | 1.68 | 2023 | +7.23% | -0.92% | View data |
| 2 | 2 Greece | 0.52 | 2023 | +1.57% | +3.88% | View data |
| 3 | 3 South Africa | 0.47 | 2023 | +6.08% | +12.62% | View data |
| 4 | 4 Moldova | 0.4 | 2023 | -9.87% | -8.51% | View data |
| 5 | 5 Azerbaijan | 0.35 | 2023 | +6.12% | -11.38% | View data |
| 6 | 6 Belgium | 0.34 | 2023 | 0% | -0.47% | View data |
| 7 | 7 United Kingdom | 0.17 | 2023 | -1.16% | +0.24% | View data |
| 8 | 8 India | 0.15 | 2023 | +6.99% | -8.15% | View data |
| 9 | 9 Italy | 0.11 | 2023 | +1.85% | +3.19% | View data |
| 10 | 10 Australia | 0.083 | 2023 | 0% | +8.98% | View data |
