The analysis of global total support on all fossil fuels for transportation reveals a noteworthy distribution, with China leading substantially at $21.89 billion USD, trailed by Australia and Italy. Trends reflect that countries such as Belgium, Russia, and Ukraine have experienced significant year-on-year increases in fossil fuel support, whereas Japan, Canada, and Colombia have faced declines. The compound annual growth rate over the past five years indicates a moderate upward trend for emerging economies like China and Russia, contrasting declines in established markets like Japan and Canada.
Future trends to watch for in global support for fossil fuels include:
- The impact of global regulatory shifts towards cleaner fuels and the subsequent effect on fossil fuel subsidies.
- China's expanding economic policies that may continue to drive large increases in fossil fuel funding.
- Potential for international agreements to impact fossil fuel support structures, particularly in European countries like Germany and France.
- Technological advances in clean energy solutions that could disrupt traditional fossil fuel financing models.
Top countries in Total Support on All Fossil Fuels for Transportation by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 21,890 | 2023 | -0.53% | +1.93% | View data |
| 2 | 2 Australia | 5,990 | 2023 | +3.61% | +1.36% | View data |
| 3 | 3 Italy | 5,520 | 2023 | +3.74% | +0.55% | View data |
| 4 | 4 France | 5,490 | 2023 | +5.66% | +5.22% | View data |
| 5 | 5 South Africa | 2,320 | 2023 | +6.52% | +2.35% | View data |
| 6 | 6 Argentina | 1,860 | 2023 | +6.87% | -3.49% | View data |
| 7 | 7 Ireland | 1,790 | 2023 | +8.23% | -0.31% | View data |
| 8 | 8 Chile | 1,500 | 2023 | +11.09% | +5.34% | View data |
| 9 | 9 United States | 1,070 | 2023 | +1.2% | -2.03% | View data |
| 10 | 10 Israel | 1,060 | 2023 | +1.53% | +1.25% | View data |
