In 2024, Azerbaijan and Mexico lead in total support for fossil fuel producers, with respective contributions of 1.86% and 1.56% of GDP. There have been significant year-on-year increases, particularly noticeable in Mexico with a massive 249.21% rise. Conversely, Argentina, Belarus, and Colombia saw declines of 15.52%, 19.05%, and 38.1%, respectively. The average variation for the last five years reveals consistent support trends, but countries like Germany, India, and Greece remained steady without change in the most recent year.
Future trends to watch include geopolitical shifts affecting oil pricing, regulatory changes toward green energy, and potential impacts of international climate agreements on fossil fuel subsidies. Asian countries like China and India, despite presently low support levels, remain crucial players due to their large energy needs and potential policy shifts.
Top countries in Total Support on All Fossil Fuels for Producers by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Azerbaijan | 1.86 | 2023 | +35.87% | +9.11% | View data |
| 2 | 2 Mexico | 1.56 | 2023 | +29.51% | +249.21% | View data |
| 3 | 3 Argentina | 0.23 | 2023 | -15.16% | -15.52% | View data |
| 4 | 4 Indonesia | 0.23 | 2023 | +4.15% | +50.78% | View data |
| 5 | 5 Australia | 0.19 | 2023 | +5.06% | +3.96% | View data |
| 6 | 6 Germany | 0.092 | 2023 | -1.08% | 0% | View data |
| 7 | 7 Brazil | 0.076 | 2023 | -13.64% | -11.88% | View data |
| 8 | 8 Canada | 0.057 | 2023 | +1.79% | -2.29% | View data |
| 9 | 9 Belarus | 0.049 | 2023 | -9.26% | -19.05% | View data |
| 10 | 10 Israel | 0.047 | 2023 | +2.17% | +5.48% | View data |
