The data shows varying levels of direct fossil fuel subsidy as a percentage of GDP across countries in 2023. Ukraine leads with the highest subsidy at 1.64% of GDP, while Canada and Israel are the lowest at 0.002%. Notable year-on-year changes include significant increases in Mexico (13.02%) and Armenia (39.51%), while Ireland and Azerbaijan saw substantial reductions at -23.73% and -12.02%, respectively. Over the last two years, Greece and Italy experienced growth, contrasting with declines in countries like Azerbaijan and Colombia.
Future trends to watch include potential policy changes in energy subsidies driven by global climate goals, economic conditions impacting government budgets, and advances in renewable energy reducing fossil fuel reliance. Changes in geopolitical landscapes may also influence subsidies, especially in countries dependent on energy imports or exports.
Top countries in Direct Transfer on All Fossil Fuels for Consumers by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Ukraine | 1.64 | 2023 | +1.11% | -1.36% | View data |
| 2 | 2 Argentina | 1.06 | 2023 | +6.73% | +5.48% | View data |
| 3 | 3 Greece | 0.69 | 2023 | +0.58% | +7.6% | View data |
| 4 | 4 Azerbaijan | 0.37 | 2023 | +2.49% | -12.02% | View data |
| 5 | 5 Mexico | 0.29 | 2023 | +8.06% | +13.02% | View data |
| 6 | 6 Colombia | 0.28 | 2023 | +17.84% | -8.26% | View data |
| 7 | 7 Slovakia | 0.14 | 2023 | +2.21% | +1.35% | View data |
| 8 | 8 Latvia | 0.14 | 2023 | -6.21% | -7.14% | View data |
| 9 | 9 Brazil | 0.11 | 2023 | +2.7% | -7.57% | View data |
| 10 | 10 Italy | 0.11 | 2023 | +6.67% | +7.5% | View data |
