In 2019, governments around the world spent roughly 320 billion U.S. dollars on fossil fuel subsidies. Nearly half of all subsidies went towards the oil industry, at approximately 150 U.S. dollars. As one of the fastest growing economies, India's fossil fuel subsidy per unit of GDP values around 0.2 percent.
Subsidies for fossil fuels worldwide in 2019, by source
(in billion U.S. dollars)
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OECD, & IEA. (December 12, 2020). Subsidies for fossil fuels worldwide in 2019, by source (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 19, 2022, from https://www.statista.com/statistics/484759/subsidies-for-fossil-fuels-worldwide-by-product/
OECD, und IEA. "Subsidies for fossil fuels worldwide in 2019, by source (in billion U.S. dollars)." Chart. December 12, 2020. Statista. Accessed August 19, 2022. https://www.statista.com/statistics/484759/subsidies-for-fossil-fuels-worldwide-by-product/
OECD, IEA. (2020). Subsidies for fossil fuels worldwide in 2019, by source (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 19, 2022. https://www.statista.com/statistics/484759/subsidies-for-fossil-fuels-worldwide-by-product/
OECD, and IEA. "Subsidies for Fossil Fuels Worldwide in 2019, by Source (in Billion U.S. Dollars)." Statista, Statista Inc., 12 Dec 2020, https://www.statista.com/statistics/484759/subsidies-for-fossil-fuels-worldwide-by-product/
OECD & IEA, Subsidies for fossil fuels worldwide in 2019, by source (in billion U.S. dollars) Statista, https://www.statista.com/statistics/484759/subsidies-for-fossil-fuels-worldwide-by-product/ (last visited August 19, 2022)
