Arab World | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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 | Total natural resources rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 13.39713015
1971 13.34376664
1972 16.03178208
1973 20.93747551
1974 48.02184952
1975 38.95891961
1976 38.88465274
1977 37.16295849
1978 33.52500877
1979 58.30165256
1980 50.96803749
1981 39.05406049
1982 25.95827871
1983 25.35303323
1984 25.00743187
1985 21.88871501
1986 14.05137693
1987 17.06514118
1988 17.06556187
1989 23.000055
1990 23.05507999
1991 18.47340474
1992 20.17108259
1993 19.72872552
1994 18.8179985
1995 18.50681758
1996 21.21303296
1997 18.81227307
1998 13.14897918
1999 16.92585319
2000 26.0624246
2001 21.39903228
2002 20.59596895
2003 22.94810077
2004 27.02965321
2005 32.35741546
2006 33.03105091
2007 30.7446703
2008 34.74512202
2009 22.58321329
2010 25.77043606
2011 34.75414665
2012 34.18220801
2013 31.56748156
2014 28.15671336
2015 16.90382788
2016 14.21302092
2017 17.71349795
2018 23.09667202
2019 20.36024518
2020 13.55017965
2021 20.24534189
2022

Arab World | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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