The global tax expenditure on coal for fossil fuel production in 2024 reveals significant variations among countries. Poland remains the highest spender with $864.63 million, despite a decline of 8.03% in 2023. The United Kingdom and Canada, with expenditures of $434.36 million and $13.04 million respectively, experienced growth, reflecting rises of 9.07% and 13.83%. In contrast, the United States and Germany reduced their spending, contracting by 11.61% and 10.07%, respectively. Russia and Australia saw minor increases, while Lithuania remained constant at $0.007 million.
Future trends to monitor include:
- Potential policy shifts in coal-dependent nations.
- Growing investments in renewable energy alternatives affecting coal expenditure.
- Global economic changes influencing tax policies and expenditure priorities.
- Long-term strategic shifts towards sustainable energy impacting fiscal allocations to coal.
Top countries in Tax Expenditure on Coal for Fossil Fuel Production by Country
| # | 8 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Poland | 864.63 | 2023 | +16.78% | -8.03% | View data |
| 2 | 2 United Kingdom | 434.36 | 2023 | +11.03% | +9.07% | View data |
| 3 | 3 United States | 235.45 | 2023 | -23.64% | -11.61% | View data |
| 4 | 4 Russia | 80.97 | 2023 | +15.19% | +3.98% | View data |
| 5 | 5 Germany | 56.12 | 2023 | -8.83% | -10.07% | View data |
| 6 | 6 Canada | 13.04 | 2023 | -4.87% | +13.83% | View data |
| 7 | 7 Australia | 1.77 | 2023 | +1.32% | +2.67% | View data |
| 8 | 8 Lithuania | 0.007 | 2023 | 0% | 0% | View data |
