Cabo Verde | 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
Cabo Verde
Records
63
Source
Cabo Verde | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1.05674915 1980
0.96153573 1981
1.39734836 1982
0.88087761 1983
0.85744313 1984
0.57379176 1985
0.69583467 1986
0.54516343 1987
0.54683328 1988
0.5554016 1989
0.59928651 1990
0.60015324 1991
0.56661599 1992
0.3350316 1993
0.51588941 1994
0.69196815 1995
0.69958241 1996
0.69586367 1997
0.70662085 1998
0.36785542 1999
0.41426391 2000
0.48587611 2001
0.53152559 2002
0.70966189 2003
0.57243947 2004
0.54258859 2005
0.45016944 2006
0.50511642 2007
0.48329793 2008
0.54023216 2009
0.46984595 2010
0.47629611 2011
0.59075783 2012
0.57376155 2013
0.64268655 2014
0.80099887 2015
0.80556815 2016
0.7120825 2017
0.40382871 2018
0.39780311 2019
0.5123711 2020
0.47772597 2021
2022
Cabo Verde | 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
Cabo Verde
Records
63
Source