In 2023, China's direct transfer on fossil fuels saw a marginal increase, remaining the highest globally. Mexico experienced a significant rise, whereas Argentina and Indonesia faced declines. The United Kingdom showcased the most substantial year-on-year growth, despite the United States showing a stark reduction. Notably, Canada and Lithuania saw remarkable increases, indicating shifts towards increased fossil fuel transfers. Over the past five years, varied compound annual growth rates illustrate fluctuating policy and economic impacts on fossil fuel subsidies across countries.
Future trends to watch include:
- Continued focus on transitioning from fossil fuels to sustainable energy may cause subsidies to decrease in major countries.- Economic recovery post-global disruptions could alter public sector policies on fuel subsidies.- Innovations in renewable energy technologies could lessen dependencies, thereby influencing direct fossil fuel transfers.- Evolving geopolitical dynamics may impact energy policies and subsidy structures globally.
Top countries in Direct Transfer on All Fossil Fuels for All Beneficiaries or Sectors by Country
| # | 10 Countries | Million US Dollars, Constant = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 24,870 | 2023 | -1.72% | +2.14% | View data |
| 2 | 2 Mexico | 11,090 | 2023 | +24.91% | +42.71% | View data |
| 3 | 3 Argentina | 4,410 | 2023 | +4.61% | -4.43% | View data |
| 4 | 4 Indonesia | 2,970 | 2023 | -33.9% | -17.02% | View data |
| 5 | 5 Japan | 2,630 | 2023 | +0.58% | +5.51% | View data |
| 6 | 6 India | 2,420 | 2023 | -10.97% | -18.01% | View data |
| 7 | 7 Ukraine | 2,290 | 2023 | -2.25% | -4.63% | View data |
| 8 | 8 Italy | 2,070 | 2023 | +8.78% | +3.82% | View data |
| 9 | 9 Germany | 2,030 | 2023 | -2.61% | -0.17% | View data |
| 10 | 10 South Africa | 1,770 | 2023 | +4.81% | +12.16% | View data |
