The data from 2023 shows varying levels of GDP percentage spent on direct transfer for petroleum services across selected countries. Canada leads with 0.087% of its GDP, reflecting a significant year-on-year increase of 144.29%. Colombia follows at 0.079%, with a modest increase of 8.31%. India saw a notable increment of 20.11%, positioning at 0.01%. Countries like Norway, United States, Italy, and Australia maintained stable expenditures at 0.002%, while Russia and New Zealand experienced reductions. Over the past five years, trends suggest variable shifts in these expenditures influenced by geopolitical, economic, and energy policy changes.
Future trends to watch for include:
- The potential impact of global energy policy shifts on petroleum subsidies, with a move towards sustainability possibly influencing expenditure allocations.
- Geopolitical dynamics, particularly those affecting oil-producing countries, which could alter the percentage of GDP allocated to petroleum service transfers.
- Technological advancements in energy which may reduce dependency and change financial commitments to petroleum services globally.
Top countries in Direct Transfer on Petroleum for General Services by Country
| # | 9 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Canada | 0.087 | 2023 | +29.85% | +144.29% | View data |
| 2 | 2 Colombia | 0.079 | 2023 | -2.47% | +8.31% | View data |
| 3 | 3 India | 0.01 | 2023 | 0% | +20.11% | View data |
| 4 | 4 Norway | 0.008 | 2023 | 0% | 0% | View data |
| 5 | 5 Russia | 0.003 | 2023 | 0% | -9.71% | View data |
| 6 | 6 New Zealand | 0.002 | 2023 | 0% | -7.79% | View data |
| 7 | 7 United States | 0.002 | 2023 | 0% | 0% | View data |
| 8 | 8 Italy | 0.002 | 2023 | 0% | 0% | View data |
| 9 | 9 Australia | 0.002 | 2023 | 0% | 0% | View data |
