Bulgaria | Natural gas rents (% of GDP)
Natural gas rents are the difference between the value of natural gas production at regional prices and 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
Republic of Bulgaria
Records
63
Source
Bulgaria | Natural gas rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
0.038583 1980
0.01983251 1981
0.00558417 1982
0.00796523 1983
0.00620428 1984
0.002533 1985
0.00181741 1986
0.00053478 1987
0.00044114 1988
0.00038507 1989
0.00108766 1990
0.0010392 1991
0.00216036 1992
0.00843686 1993
0.00761826 1994
0.00628057 1995
0.00777525 1996
0.00778882 1997
0.00063713 1998
0.00062428 1999
0.0025277 2000
0.00750141 2001
0.00432092 2002
0.00290205 2003
0.04317242 2004
0.04630191 2005
0.08735419 2006
0.04401113 2007
0.04317693 2008
0.00267185 2009
0.01112557 2010
0.08909305 2011
0.08708721 2012
0.06308663 2013
0.03004407 2014
0.01323416 2015
0.00672704 2016
0.00735612 2017
0.00453021 2018
0.00343786 2019
0.00246737 2020
0.00649706 2021
2022
Bulgaria | Natural gas rents (% of GDP)
Natural gas rents are the difference between the value of natural gas production at regional prices and 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
Republic of Bulgaria
Records
63
Source