Bangladesh | 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
People's Republic of Bangladesh
Records
63
Source
Bangladesh | Total natural resources rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.32656089
1971 0.30476346
1972 0.38244802
1973 0.54982775
1974 0.42369175
1975 0.58449558
1976 0.76737175
1977 2.56785261
1978 1.82496299
1979 0.69395631
1980 0.76613547
1981 0.54674413
1982 0.87043753
1983 0.68611674
1984 0.53575769
1985 0.33544582
1986 0.66810016
1987 0.58109066
1988 0.5494966
1989 0.61585537
1990 0.68651071
1991 0.62802718
1992 0.65470427
1993 0.58273254
1994 0.60005714
1995 0.66890998
1996 0.59005505
1997 0.51115781
1998 0.5378038
1999 0.66366937
2000 0.92367014
2001 0.95102951
2002 1.1563158
2003 1.17267032
2004 1.25033088
2005 1.42150861
2006 1.6219145
2007 1.28014684
2008 1.24590842
2009 1.19267877
2010 1.4159097
2011 1.58942507
2012 1.55456977
2013 1.15168389
2014 1.04718075
2015 0.89981388
2016 0.71614076
2017 0.71042001
2018 0.64923882
2019 0.63771756
2020 0.5608677
2021 0.61006918
2022

Bangladesh | 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
People's Republic of Bangladesh
Records
63
Source