In 2023, Argentina showed the highest support for fossil fuels in electricity generation relative to GDP at 0.93%, with a notable year-on-year increase of 5.53%. Italy (9.86%) and Armenia (10.49%) also experienced significant increases, contrasting with Germany (-8.21%) and Belarus (-25.21%), which saw marked declines. Overall, most countries showed slight to moderate shifts, with a mix of reductions and increments.
Future trends to watch include fluctuating support as countries transition to cleaner energy sources, potentially resulting in increased reductions in fossil fuel subsidies. Monitoring policy changes, technological advancements, and geopolitical factors will be crucial in anticipating shifts in this landscape.
Top countries in Total Support on All Fossil Fuels for Electricity Generation by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Argentina | 0.93 | 2023 | +5.82% | +5.53% | View data |
| 2 | 2 Ukraine | 0.22 | 2023 | +4.83% | View data | |
| 3 | 3 Slovakia | 0.18 | 2023 | +0.55% | -3.16% | View data |
| 4 | 4 Finland | 0.12 | 2023 | 0% | -2.74% | View data |
| 5 | 5 Brazil | 0.098 | 2023 | 0% | -3.65% | View data |
| 6 | 6 Italy | 0.096 | 2023 | +6.67% | +9.86% | View data |
| 7 | 7 Indonesia | 0.086 | 2023 | 0% | +2.77% | View data |
| 8 | 8 Slovenia | 0.063 | 2023 | 0% | 0% | View data |
| 9 | 9 Germany | 0.043 | 2023 | -8.51% | -8.21% | View data |
| 10 | 10 Armenia | 0.028 | 2023 | +7.69% | +10.49% | View data |
