In 2023, Russia led global fossil fuel support at $14.24 billion, despite a slight decline of 1.28%. India experienced a 6.62% increase, reaching $9.2 billion, while Mexico's support surged by 128.83%, placing it third at $8.1 billion. The United Kingdom and China saw moderate increases of 17.37% and 1.48%, respectively. Conversely, notable declines included Brazil (-16.68%), Poland (-4.45%), and Colombia (-7.0%). Lithuania, despite small figures, registered a striking increase of 394.69%, while Denmark's support grew significantly by 36.21%, reflecting regional policy shifts.
Future trends to watch include policy adjustments aligning with emissions targets, geopolitical factors affecting energy markets, and advancements in renewable energy are expected to influence global fossil fuel support dynamics. Especially, shifts in Asian and European markets could considerably reflect the global stance on fossil fuel reliance and green energy transitions.
Top countries in Total Support on All Fossil Fuels for Fossil Fuel Production by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Russia | 14,240 | 2023 | +13.94% | -1.28% | View data |
| 2 | 2 India | 9,200 | 2023 | +6.69% | +6.62% | View data |
| 3 | 3 Mexico | 8,100 | 2023 | +18.67% | +128.83% | View data |
| 4 | 4 United Kingdom | 7,810 | 2023 | +8.23% | +17.37% | View data |
| 5 | 5 China | 4,570 | 2023 | +0.54% | +1.48% | View data |
| 6 | 6 Japan | 3,080 | 2023 | +1.09% | +5.54% | View data |
| 7 | 7 Germany | 1,860 | 2023 | -3.11% | -0.054% | View data |
| 8 | 8 Poland | 1,710 | 2023 | +5.98% | -4.45% | View data |
| 9 | 9 Argentina | 1,360 | 2023 | +6.45% | -4.15% | View data |
| 10 | 10 Canada | 1,210 | 2023 | -2.36% | +1.69% | View data |
