In 2023, Azerbaijan's direct transfer for petroleum producers represented 0.44% of its GDP, noting a decline of 0.88% from the previous year. Argentina saw a significant increase of 7.92%, reaching 0.24% of GDP. Indonesia and Japan maintained stability with no year-on-year change, representing 0.053% and 0.002% of GDP, respectively. Meanwhile, China's transfer increased slightly by 1.76% to 0.012% of GDP. Over the past five years, Compound Annual Growth Rates (CAGR) indicate a varied pattern across these countries.
Future trends to watch include the potential impact of geopolitical changes, environmental policies affecting global oil dynamics, and technological advancements in energy that could redefine the needs and roles in direct transfers in the petroleum sector globally. Monitoring shifts in economic policies and their effects on energy subsidies in emerging and developed economies will be crucial. For producers, changes in international oil prices and shifts towards sustainable energy sources present both challenges and opportunities for refining their economic strategies.
Top countries in Direct Transfer on Petroleum for Producers by Country
| # | 5 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Azerbaijan | 0.44 | 2023 | +37.58% | -0.88% | View data |
| 2 | 2 Argentina | 0.24 | 2023 | +6.11% | +7.92% | View data |
| 3 | 3 Indonesia | 0.053 | 2023 | +8.16% | View data | |
| 4 | 4 China | 0.012 | 2023 | 0% | +1.76% | View data |
| 5 | 5 Japan | 0.002 | 2023 | 0% | 0% | View data |
