Benin | 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 Benin
Records
63
Source
Benin | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 6.70734125
1971 5.79302298
1972 5.34084276
1973 7.26543586
1974 7.30053187
1975 8.24811696
1976 7.17067352
1977 11.97544818
1978 9.87506191
1979 7.16735084
1980 7.31176044
1981 6.95594702
1982 9.97304282
1983 7.68471998
1984 7.25721128
1985 5.35224633
1986 6.73459726
1987 5.66251297
1988 5.99709334
1989 6.69780112
1990 6.38683165
1991 6.34469023
1992 7.57111282
1993 4.74741779
1994 7.9952612
1995 8.66018628
1996 7.90672693
1997 7.70839108
1998 7.39174367
1999 3.14741802
2000 3.26095149
2001 3.0839473
2002 3.30157148
2003 4.13975521
2004 3.12502077
2005 3.07174994
2006 3.04690163
2007 3.62546764
2008 3.64708715
2009 3.70094368
2010 3.41972761
2011 3.47508303
2012 3.91817163
2013 3.5590925
2014 3.70301976
2015 4.24692848
2016 4.40224511
2017 4.0108567
2018 2.49180486
2019 2.37010864
2020 2.3828666
2021 2.30442028
2022

Benin | 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 Benin
Records
63
Source