The analysis of global tax expenditure on all fossil fuels for residential use in 2023 highlights significant variation among countries. The United Kingdom leads with the highest expenditure, while Portugal and Argentina register minimal amounts. Year-on-year trends demonstrate notable fluctuations, with China and Canada experiencing growth, contrasting with declines in Portugal and South Korea. Over the past five years, these expenditures depict mixed growth patterns, shaped by varying economic and environmental policies.
Future trends to watch include potential shifts due to global economic recovery efforts, environmental policy changes, and energy transition developments. Countries investing in renewable energy may see decreased fossil fuel tax expenditures, while those dependent on fossil fuels might experience continued volatility.
Top countries in Tax Expenditure on All Fossil Fuels for Residential by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 4,420 | 2023 | -2.13% | -2.4% | View data |
| 2 | 2 Italy | 2,530 | 2023 | +4.95% | +6.61% | View data |
| 3 | 3 China | 1,810 | 2023 | +23.04% | +21.24% | View data |
| 4 | 4 United States | 1,800 | 2023 | -0.73% | +1.18% | View data |
| 5 | 5 Belgium | 1,650 | 2023 | +0.29% | -0.88% | View data |
| 6 | 6 Canada | 242.48 | 2023 | +3.17% | +8.39% | View data |
| 7 | 7 Ireland | 201.21 | 2023 | +3.02% | +3.69% | View data |
| 8 | 8 Lithuania | 83.92 | 2023 | -1.68% | -0.55% | View data |
| 9 | 9 Hungary | 83.79 | 2023 | +2.25% | -1.87% | View data |
| 10 | 10 Czech Republic | 68.42 | 2023 | +1.91% | +0.95% | View data |
