The analysis of global total support on petroleum for general services by country, expressed as a percentage of GDP, indicates that Mexico leads with a support rate of 0.56, followed by Canada at 0.087, and Colombia at 0.079 in 2024. The United States, Australia, and New Zealand show minimal support rates at 0.002. Year-on-year variations from 2023 reveal significant increases in Mexico (139.97%) and Canada (144.29%). Over the last five years, support trends exhibit increased focus on reducing dependency, as reflected in the varied CAGR across nations.
Future trends to watch:
- Potential reduction in support rates due to global pressure for sustainable energy solutions.
- Policy shifts towards green energy in major economies impacting petroleum support levels.
- Technological advancements prompting investments away from petroleum-based services.
Top countries in Total Support on Petroleum for General Services by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Mexico | 0.56 | 2023 | +29.23% | +139.97% | View data |
| 2 | 2 Canada | 0.087 | 2023 | +29.85% | +144.29% | View data |
| 3 | 3 Colombia | 0.079 | 2023 | -2.47% | +8.31% | View data |
| 4 | 4 Japan | 0.033 | 2023 | 0% | +4.1% | View data |
| 5 | 5 India | 0.01 | 2023 | 0% | +20.11% | View data |
| 6 | 6 Italy | 0.005 | 2023 | 0% | 0% | View data |
| 7 | 7 Russia | 0.003 | 2023 | 0% | -9.71% | View data |
| 8 | 8 New Zealand | 0.002 | 2023 | 0% | -7.79% | View data |
| 9 | 9 United States | 0.002 | 2023 | 0% | 0% | View data |
| 10 | 10 Australia | 0.002 | 2023 | 0% | 0% | View data |
