The 2023 analysis of global tax expenditure on fossil fuels for transportation highlights notable variations among countries. China leads with $6.99 billion, followed by Australia and Italy. Significant year-on-year increases include Belgium (13.61%) and Russia (14.01%), while Canada's expenditure dropped by 10.11%. The United States, facing a 2.3% decrease, remains crucial despite reduced spending. Over five years, Ukraine showed the highest growth trend, whereas Argentina faced substantial decline. Future trends to watch include potential shifts towards cleaner energy sources influencing tax policies, and how emerging markets manage fossil fuel taxes amid economic changes to support infrastructure and environmental commitments.
Top countries in Tax Expenditure on All Fossil Fuels for Transportation by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 6,990 | 2023 | +6.39% | +5.91% | View data |
| 2 | 2 Australia | 5,990 | 2023 | +3.62% | +1.37% | View data |
| 3 | 3 Italy | 5,540 | 2023 | +3.74% | +0.55% | View data |
| 4 | 4 South Africa | 2,320 | 2023 | +6.52% | +2.35% | View data |
| 5 | 5 Switzerland | 2,260 | 2023 | +10.73% | +0.45% | View data |
| 6 | 6 Ireland | 1,770 | 2023 | +8.2% | -0.36% | View data |
| 7 | 7 Sweden | 1,370 | 2023 | -3.09% | +5.53% | View data |
| 8 | 8 United States | 1,070 | 2023 | +1.01% | -2.3% | View data |
| 9 | 9 Israel | 1,060 | 2023 | +1.53% | +1.25% | View data |
| 10 | 10 Denmark | 1,030 | 2023 | +2.59% | +2.06% | View data |
