Burundi | 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
Republic of Burundi
Records
63
Source
Burundi | Total natural resources rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 6.75179244
1971 5.38352192
1972 6.30829521
1973 8.73544
1974 8.53403131
1975 9.72861508
1976 8.01546941
1977 12.50793833
1978 11.65362791
1979 8.38373041
1980 8.97893497
1981 7.57807236
1982 10.81466418
1983 6.54287624
1984 6.7783747
1985 5.93607795
1986 8.57543243
1987 9.32629776
1988 10.38885776
1989 10.65469443
1990 13.37103255
1991 12.69454593
1992 14.02066839
1993 14.23864858
1994 17.06171534
1995 24.02891351
1996 28.92466302
1997 23.62156395
1998 27.01923838
1999 15.41724374
2000 15.06093519
2001 18.81207809
2002 24.30142546
2003 40.4921952
2004 30.45452019
2005 26.68076751
2006 23.94917946
2007 32.35635677
2008 33.04824404
2009 30.33665756
2010 23.85337574
2011 24.98915895
2012 17.55019993
2013 17.73285532
2014 17.45474834
2015 15.53445315
2016 19.10164998
2017 18.50767497
2018 13.43176299
2019 13.12743764
2020 13.84755216
2021 13.95703399
2022

Burundi | 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
Republic of Burundi
Records
63
Source