The global total support on petroleum reveals significant disparities among countries. High expenditures are seen in China ($19.51 million) and Russia ($10.35 million), while countries like Luxembourg have minimal support ($0.0015 million). Over recent years, the United Kingdom showed robust growth with a 9.18% increase in 2023, while India and Germany saw declines at -2.48% and -1.99% respectively. Noteworthy is the significant decrease in Brazil's support by -56.38%. However, Mexico experienced substantial growth with a 16.78% increase. The United States marked a modest 4.4% rise, emphasizing varied trends across nations.
Future trends to watch include potential adjustments in petroleum support as nations increasingly focus on renewable energy sources and sustainability. Countries like Mexico and Ukraine, with recent growth, may continue to stabilize or expand their petroleum support, while nations with decreasing trends could shift towards alternative energy investments. Additionally, geopolitical events and policy changes may further influence these economic dynamics.
Top countries in Total Support on Petroleum for All Beneficiaries or Sectors Share by Country (Million US Dollars, Constant = 2020)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 19.51 | 2023 | -1.28% | +1.73% | View data |
| 2 | 2 Russia | 10.35 | 2023 | +14.04% | -0.97% | View data |
| 3 | 3 United Kingdom | 8.47 | 2023 | +8.75% | +9.18% | View data |
| 4 | 4 India | 8 | 2023 | +5.11% | -2.48% | View data |
| 5 | 5 France | 6.54 | 2023 | +4.69% | +3.99% | View data |
| 6 | 6 Italy | 6.1 | 2023 | +2.86% | +2.3% | View data |
| 7 | 7 Australia | 5.17 | 2023 | +4.83% | +3.39% | View data |
| 8 | 8 Argentina | 4.65 | 2023 | +5.51% | +5.12% | View data |
| 9 | 9 Mexico | 3.62 | 2023 | +2.67% | +16.78% | View data |
| 10 | 10 United States | 2.92 | 2023 | -3.2% | +4.4% | View data |
