Africa Eastern and Southern | Forest rents (% of GDP)
Forest rents are roundwood harvest times the product of regional prices and a regional rental rate. 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
Create chart Download showed records Download Full dataset
Africa Eastern and Southern | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1.40732458 1970
1.17430747 1971
1.11595211 1972
1.32917898 1973
1.27855239 1974
1.60869615 1975
1.49628001 1976
2.12116048 1977
2.11509881 1978
1.96152198 1979
1.8127882 1980
2.10503599 1981
2.97708895 1982
1.92470236 1983
2.28415426 1984
2.22216335 1985
2.95058533 1986
2.5307408 1987
2.60509819 1988
2.61270198 1989
2.7631516 1990
2.26555028 1991
3.11635352 1992
2.76794011 1993
3.25173811 1994
4.16974396 1995
4.20227397 1996
3.7471128 1997
4.09672793 1998
2.81168865 1999
2.66554471 2000
2.85287719 2001
3.36502548 2002
3.92420867 2003
2.73865046 2004
2.54133047 2005
2.34395185 2006
2.8408036 2007
3.17021617 2008
3.12971642 2009
2.3351562 2010
2.46748262 2011
2.83042358 2012
2.98445465 2013
3.21894112 2014
3.63614382 2015
3.99467844 2016
3.42174438 2017
2.5372599 2018
2.46810719 2019
2.89879054 2020
2.63546141 2021
2022
Africa Eastern and Southern | Forest rents (% of GDP)
Forest rents are roundwood harvest times the product of regional prices and a regional rental rate. 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
Create chart Download showed records Download Full dataset