In 2023, Mexico led with a significant tax expenditure on natural gas for fossil fuel production, experiencing a dramatic increase of 124.91% YoY. Japan, China, and Italy showed modest growth in expenditures, indicating continued investment focus. Conversely, the United States, Canada, Brazil, and Indonesia saw notable declines, reflecting shifts in policy or market conditions. Russia's expenditures increased by 21.26%, suggesting enhanced fossil fuel investments, while other countries like Colombia and Norway showed minor fluctuations.
Future trends to monitor include the impact of evolving environmental policies, shifts towards renewable energy investment, and global economic factors influencing natural gas reliance. Watch for potential policy shifts in high-expenditure countries like Mexico and evolving international climate agreements that could drive changes in tax expenditure patterns.
Top countries in Tax Expenditure on Natural Gas for Fossil Fuel Production Share by Country (Million US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Mexico | 60.16 | 2023 | +27.87% | +124.91% | View data |
| 2 | 2 Japan | 6.62 | 2023 | +2.76% | +4.19% | View data |
| 3 | 3 United States | 5.08 | 2023 | -20.3% | -16.77% | View data |
| 4 | 4 Canada | 4.5 | 2023 | -22.86% | -17.83% | View data |
| 5 | 5 China | 4.44 | 2023 | -22.41% | +5.14% | View data |
| 6 | 6 Brazil | 3.87 | 2023 | -13.37% | -11.59% | View data |
| 7 | 7 Russia | 3.03 | 2023 | +16.62% | +21.26% | View data |
| 8 | 8 Colombia | 2.83 | 2023 | +6.97% | -2.51% | View data |
| 9 | 9 Indonesia | 2.19 | 2023 | -10.03% | -8.1% | View data |
| 10 | 10 Ireland | 2.09 | 2023 | +21.28% | +0.12% | View data |
