The analysis of global fossil fuel support in 2023 shows that China, the United Kingdom, and Russia lead with notable investments, albeit China and Russia recorded slight declines, while the UK saw a substantial increase of 7.47%. Noteworthy increases include Mexico at 19.89% and Italy at 3.41%. Conversely, the United States experienced a significant drop of 13.62%, with Brazil showing a steep decline of 30.3%. Countries like South Africa and Japan also saw positive growth at 5.69% and 5.57%, respectively, indicating shifting priorities by these nations.
Future trends to watch in fossil fuel support include the potential for continued growth in emerging markets such as Mexico and South Africa. Meanwhile, declines in the United States and Brazil suggest a transition towards renewable energy and reduced emphasis on fossil fuel reliance. Monitoring policy shifts, technological advancements, and international climate commitments will be critical in predicting the trajectory of global fossil fuel support.
Top countries in Total Support on All Fossil Fuels for All Beneficiaries or Sectors by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 27,670 | 2023 | -0.4% | -0.77% | View data |
| 2 | 2 United Kingdom | 20,250 | 2023 | +6.37% | +7.47% | View data |
| 3 | 3 Russia | 14,850 | 2023 | +13.92% | -0.97% | View data |
| 4 | 4 Italy | 12,880 | 2023 | +4.49% | +3.41% | View data |
| 5 | 5 India | 11,500 | 2023 | +5.07% | -2.45% | View data |
| 6 | 6 France | 11,090 | 2023 | +5.12% | +3.68% | View data |
| 7 | 7 Mexico | 10,620 | 2023 | +8.95% | +19.89% | View data |
| 8 | 8 Germany | 7,960 | 2023 | -4.43% | -4.22% | View data |
| 9 | 9 Argentina | 6,540 | 2023 | +6.25% | -2.68% | View data |
| 10 | 10 South Africa | 4,290 | 2023 | +3.43% | +5.69% | View data |
