In 2023, South Africa led with the highest Global Direct Transfer on All Fossil Fuels for Residential as a percentage of GDP, showing a significant increase. Greece, Armenia, and China also saw notable growth, suggesting intensified investment in residential fossil fuels. Conversely, Azerbaijan, India, and Indonesia experienced substantial declines. The United States, Italy, and China maintained a lower ratio, indicating limited direct transfers. Year-over-year variations highlight growing trends in Africa and parts of Europe, while Asia showed mixed responses. Notably, Turkey demonstrated resilience, with future growth expected driven by economic recovery and policy shifts.
Looking ahead, countries will likely adjust their direct transfer rates due to evolving environmental policies and economic shifts. Green energy transition trends could increasingly influence a reduction in fossil fuel dependency, especially in developed economies. Watch for potential policy reforms and international agreements impacting these trends as countries aim to balance energy needs with sustainable practices.
Top countries in Direct Transfer on All Fossil Fuels for Residential by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Africa | 0.46 | 2023 | +6.19% | +13.21% | View data |
| 2 | 2 Azerbaijan | 0.35 | 2023 | +6.12% | -11.38% | View data |
| 3 | 3 India | 0.13 | 2023 | +4.96% | -11.51% | View data |
| 4 | 4 Greece | 0.11 | 2023 | +1.9% | +28.12% | View data |
| 5 | 5 Australia | 0.083 | 2023 | 0% | +8.98% | View data |
| 6 | 6 Mexico | 0.065 | 2023 | +8.33% | +12.54% | View data |
| 7 | 7 Moldova | 0.063 | 2023 | +3.28% | +3.91% | View data |
| 8 | 8 Belgium | 0.044 | 2023 | +4.76% | +10.26% | View data |
| 9 | 9 Indonesia | 0.041 | 2023 | -56.38% | -25.45% | View data |
| 10 | 10 Armenia | 0.037 | 2023 | +5.71% | +39.51% | View data |
