In 2023, China led in global fossil fuel support with a significant increase of 2.54% year-on-year. Italy and France also saw growth, while India, the United Kingdom, and the United States experienced declines. Germany and Argentina faced reductions of 5.89% and 8.9%, respectively. Notably, Chile and New Zealand had strong growth rates of 4.74% and 4.55%. Conversely, Indonesia experienced a sharp decline of 42.24%.
Future trends to monitor include shifts in policy towards renewable energy and potential reductions in fossil fuel subsidies. Emphasis on sustainable practices and energy transitions is likely to affect these figures significantly. Additionally, geopolitical dynamics and economic conditions could influence government support strategies in the coming years.
Top countries in Total Support on All Fossil Fuels for Consumers Share by Country (Million US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 21.63 | 2023 | +0.24% | +2.54% | View data |
| 2 | 2 Italy | 8.82 | 2023 | +0.88% | +1.29% | View data |
| 3 | 3 India | 8.32 | 2023 | +5.35% | -3.4% | View data |
| 4 | 4 United Kingdom | 7.84 | 2023 | +2.65% | -0.62% | View data |
| 5 | 5 France | 7.43 | 2023 | +4.55% | +2.03% | View data |
| 6 | 6 Australia | 4.32 | 2023 | +1.98% | +1.48% | View data |
| 7 | 7 United States | 3.65 | 2023 | -1.69% | -2.01% | View data |
| 8 | 8 Germany | 3.23 | 2023 | -4.57% | -5.89% | View data |
| 9 | 9 Argentina | 2.78 | 2023 | -1.22% | -8.9% | View data |
| 10 | 10 Belgium | 2.77 | 2023 | +1.58% | +1.49% | View data |
