Cameroon | 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 Cameroon
Records
63
Source
Cameroon | Total natural resources rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 3.90560807
1971 3.44997097
1972 3.40293941
1973 4.16426611
1974 4.46539197
1975 4.14874629
1976 4.29183538
1977 5.5058707
1978 5.2582762
1979 8.67533193
1980 10.66575992
1981 9.21696591
1982 6.89224738
1983 9.03755711
1984 10.42760643
1985 12.02125008
1986 4.42594525
1987 6.46397291
1988 5.828568
1989 10.15942166
1990 11.9086297
1991 7.76889322
1992 7.80091581
1993 5.29907363
1994 8.65495243
1995 8.98379335
1996 9.19379916
1997 8.90970986
1998 5.51531752
1999 5.15124734
2000 8.33574817
2001 5.68439537
2002 5.27982808
2003 5.08268051
2004 4.73178789
2005 7.39166567
2006 8.54390801
2007 8.98192175
2008 10.07692778
2009 5.82385438
2010 6.92041886
2011 8.16416608
2012 8.40581417
2013 7.33302882
2014 7.03590731
2015 5.6356334
2016 5.36737217
2017 6.08352641
2018 6.10463986
2019 5.55584424
2020 4.34202269
2021 5.52598268
2022

Cameroon | 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 Cameroon
Records
63
Source