Austria | 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
Republic of Austria
Records
63
Source
Austria | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.33657003
1971 0.29847777
1972 0.2861035
1973 0.31870825
1974 0.30125646
1975 0.2911233
1976 0.32372826
1977 0.24272987
1978 0.25624622
1979 0.27505711
1980 0.27308743
1981 0.27122653
1982 0.24509126
1983 0.21384209
1984 0.20210468
1985 0.21225276
1986 0.16920835
1987 0.13770963
1988 0.14563396
1989 0.17583722
1990 0.16145134
1991 0.10807925
1992 0.07953629
1993 0.07786405
1994 0.08610877
1995 0.07918601
1996 0.09274536
1997 0.0852744
1998 0.07236184
1999 0.0629861
2000 0.06512366
2001 0.06549247
2002 0.07956647
2003 0.08022942
2004 0.05832465
2005 0.0573129
2006 0.07083934
2007 0.08424511
2008 0.08717278
2009 0.06767948
2010 0.07737237
2011 0.07524306
2012 0.06798916
2013 0.06847123
2014 0.07015275
2015 0.06988591
2016 0.06439177
2017 0.05996935
2018 0.07820446
2019 0.06052764
2020 0.04830562
2021 0.05599349
2022

Austria | 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
Republic of Austria
Records
63
Source