The analysis of Global Total Support for fossil fuels for residential use in 2023 shows India leading with a substantial value, followed by the United Kingdom and Ukraine. Noticeable yearly changes include decreases in subsidies for major economies like the United States and China, but China still experienced a significant increase of 18.05%. Countries such as Italy, Greece, and Canada saw commendable growth, while Mexico and Azerbaijan noted sharp declines. Smaller economies like Armenia and South Africa had notable increases, highlighting regional disparities in support strategies.
Future trends to watch include potential shifts in global policies towards renewable energy, which may decrease fossil fuel subsidies. Geopolitical factors and economic recovery efforts post-pandemic might also influence these subsidies, stimulating regional variations and leading to investments in sustainable energy sources.
Top countries in Total Support on All Fossil Fuels for Residential Share by Country (Million US Dollars, Constant = 2020)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 22.73 | 2023 | +18.97% | -2.18% | View data |
| 2 | 2 United Kingdom | 17.62 | 2023 | -2.13% | -2.4% | View data |
| 3 | 3 Ukraine | 12.34 | 2023 | +11.86% | +2.02% | View data |
| 4 | 4 Italy | 10.74 | 2023 | +5.05% | +6.38% | View data |
| 5 | 5 United States | 9.73 | 2023 | -6.5% | -5.96% | View data |
| 6 | 6 China | 7.97 | 2023 | +20.09% | +18.05% | View data |
| 7 | 7 Belgium | 7.71 | 2023 | +1.01% | +0.32% | View data |
| 8 | 8 Indonesia | 6.42 | 2023 | -15.48% | -2.86% | View data |
| 9 | 9 South Africa | 5.89 | 2023 | +5.66% | +11.33% | View data |
| 10 | 10 Greece | 4.85 | 2023 | +4.98% | +6.6% | View data |
