Africa Eastern and Southern | Coal rents (% of GDP)
Coal rents are the difference between the value of both hard and soft coal production at world prices and their total costs of production. Development relevance: Accounting for the contribution of natural resources to economic output is important in building an analytical framework for sustainable development. In some countries earnings from natural resources, especially from fossil fuels and minerals, account for a sizable share of GDP, and much of these earnings come in the form of economic rents - revenues above the cost of extracting the resources. Natural resources give rise to economic rents because they are not produced. For produced goods and services competitive forces expand supply until economic profits are driven to zero, but natural resources in fixed supply often command returns well in excess of their cost of production. Rents from nonrenewable resources - fossil fuels and minerals - as well as rents from overharvesting of forests indicate the liquidation of a country's capital stock. When countries use such rents to support current consumption rather than to invest in new capital to replace what is being used up, they are, in effect, borrowing against their future. Statistical concept and methodology: The estimates of natural resources rents are calculated as the difference between the price of a commodity and the average cost of producing it. This is done by estimating the price of units of specific commodities and subtracting estimates of average unit costs of extraction or harvesting costs. These unit rents are then multiplied by the physical quantities countries extract or harvest to determine the rents for each commodity as a share of gross domestic product (GDP).
Publisher
The World Bank
Origin
Africa Eastern and Southern
Records
63
Source
Africa Eastern and Southern | Coal rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 0.76394807
1972 0.77272648
1973 0.75888213
1974 1.1274555
1975 2.21467583
1976 2.54992247
1977 2.62526305
1978 2.35673195
1979 2.26393597
1980 2.13312067
1981 3.09162142
1982 3.69121115
1983 2.32940046
1984 2.12301734
1985 2.95490066
1986 2.10590059
1987 1.26134387
1988 1.4130594
1989 1.53858888
1990 1.39857788
1991 1.30671145
1992 1.26826143
1993 1.00107447
1994 1.04593301
1995 1.3865697
1996 1.23572567
1997 1.01422122
1998 0.80462116
1999 0.54792627
2000 0.72030759
2001 1.35841595
2002 0.86032878
2003 0.79179433
2004 1.96145531
2005 1.36699016
2006 1.32497671
2007 1.64000461
2008 3.3660522
2009 1.10960636
2010 1.71332122
2011 1.9591537
2012 1.34978069
2013 1.06991718
2014 0.7915008
2015 0.59639886
2016 0.69777684
2017 0.85068161
2018 1.03561097
2019 0.75233526
2020 0.63491016
2021 1.03247462
2022
Africa Eastern and Southern | Coal rents (% of GDP)
Coal rents are the difference between the value of both hard and soft coal production at world prices and their total costs of production. Development relevance: Accounting for the contribution of natural resources to economic output is important in building an analytical framework for sustainable development. In some countries earnings from natural resources, especially from fossil fuels and minerals, account for a sizable share of GDP, and much of these earnings come in the form of economic rents - revenues above the cost of extracting the resources. Natural resources give rise to economic rents because they are not produced. For produced goods and services competitive forces expand supply until economic profits are driven to zero, but natural resources in fixed supply often command returns well in excess of their cost of production. Rents from nonrenewable resources - fossil fuels and minerals - as well as rents from overharvesting of forests indicate the liquidation of a country's capital stock. When countries use such rents to support current consumption rather than to invest in new capital to replace what is being used up, they are, in effect, borrowing against their future. Statistical concept and methodology: The estimates of natural resources rents are calculated as the difference between the price of a commodity and the average cost of producing it. This is done by estimating the price of units of specific commodities and subtracting estimates of average unit costs of extraction or harvesting costs. These unit rents are then multiplied by the physical quantities countries extract or harvest to determine the rents for each commodity as a share of gross domestic product (GDP).
Publisher
The World Bank
Origin
Africa Eastern and Southern
Records
63
Source