In 2023, Mexico led global tax expenditures on natural gas for fossil fuel production with a significant value, showing an enormous year-on-year increase of approximately 124.91%. Japan and China also experienced increases in tax expenditure, at 4.19% and 5.14% respectively. Conversely, major declines were noted in the United States and Canada, with declines of 16.77% and 17.83%. Other countries like Brazil, Indonesia, and Norway observed reductions in expenditures too, although at varied rates. Long-term trends indicate disparities in tax strategies, especially among major gas producers and users.
Future trends to watch include:
• Potential tax policy shifts in countries with declining expenditures like the United States and Brazil may impact global dynamics.
• Monitoring Mexico's unprecedented growth in tax expenditure, which may suggest a strategic redirection in energy policy.
• Emerging countries like China show a modest increase, indicating a possible investment in cleaner technology.
Top countries in Tax Expenditure on Natural Gas for Fossil Fuel Production by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Mexico | 3,100 | 2023 | +27.87% | +124.91% | View data |
| 2 | 2 Japan | 341.14 | 2023 | +2.76% | +4.19% | View data |
| 3 | 3 United States | 261.66 | 2023 | -20.3% | -16.77% | View data |
| 4 | 4 Canada | 231.65 | 2023 | -22.86% | -17.83% | View data |
| 5 | 5 China | 228.89 | 2023 | -22.41% | +5.14% | View data |
| 6 | 6 Brazil | 199.39 | 2023 | -13.37% | -11.59% | View data |
| 7 | 7 Russia | 156.08 | 2023 | +16.62% | +21.26% | View data |
| 8 | 8 Colombia | 145.82 | 2023 | +6.97% | -2.51% | View data |
| 9 | 9 Indonesia | 112.67 | 2023 | -10.03% | -8.1% | View data |
| 10 | 10 Ireland | 107.64 | 2023 | +21.28% | +0.12% | View data |
