Arab World | 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
Arab World
Records
63
Source
Arab World | Coal rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 0.00082632
1972 0.00105966
1973 0.00141484
1974 0.0028754
1975 0.0075409
1976 0.0047847
1977 0.00421824
1978 0.0032081
1979 0.00288926
1980 0.02185359
1981 0.02675052
1982 0.03339461
1983 0.03642132
1984 0.02900397
1985 0.02603108
1986 0.01913771
1987 0.0125899
1988 0.00984423
1989 0.01436366
1990 0.01111425
1991 0.01412466
1992 0.01188388
1993 0.00908809
1994 0.00641439
1995 0.00833307
1996 0.00843615
1997 0.00775947
1998 0.00816887
1999 0.00535871
2000 0.00446408
2001 0.00569861
2002 0.00604408
2003 0.00485902
2004 0.00541238
2005 0.00928252
2006 0.00898977
2007 0.00547528
2008 0.01484095
2009 0.00974041
2010 0.01098544
2011 0.01326721
2012 0.00581088
2013 0.00411535
2014 0.00338846
2015 0.00247289
2016 0.00231854
2017 0.00323556
2018 0.00292089
2019 0.00217257
2020 0.00168628
2021 0.00223385
2022

Arab World | 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
Arab World
Records
63
Source