The global tax expenditure on fossil fuels reflects diverse trends. Russia, despite a high expenditure, saw a decline. Major economies like the UK and France experienced modest growth, while India and China saw substantial increases. The U.S. and Germany faced minor and major reductions, respectively. Among smaller nations, Ukraine showed remarkable growth, but Chile, Colombia, and others experienced significant drops.
Future trends indicate a potential global shift toward greener energy sources, possibly affecting tax expenditures on fossil fuels. Monitoring geopolitical factors, policy changes, and technological advancements will be essential to understanding these dynamics in the coming years.
Top countries in Tax Expenditure on All Fossil Fuels for All Beneficiaries or Sectors by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Russia | 15,370 | 2023 | +14.68% | -2.16% | View data |
| 2 | 2 United Kingdom | 13,920 | 2023 | +3.12% | +0.42% | View data |
| 3 | 3 France | 10,180 | 2023 | +4.66% | +2.06% | View data |
| 4 | 4 India | 9,710 | 2023 | +6.6% | +8.21% | View data |
| 5 | 5 China | 8,250 | 2023 | +4.6% | +4.87% | View data |
| 6 | 6 Italy | 8,210 | 2023 | -0.6% | -2.48% | View data |
| 7 | 7 Australia | 6,940 | 2023 | +3.59% | +1.17% | View data |
| 8 | 8 United States | 5,470 | 2023 | -5.74% | +0.62% | View data |
| 9 | 9 Germany | 5,430 | 2023 | -6.15% | -7% | View data |
| 10 | 10 Belgium | 3,440 | 2023 | +1.85% | +1.32% | View data |
