Congo, Rep. | 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 the Congo
Records
63
Source
Congo, Rep. | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 6.57841483
1971 5.7726023
1972 5.25676769
1973 5.19446861
1974 4.73877196
1975 3.5069819
1976 4.06025019
1977 5.09319472
1978 5.19418103
1979 4.64910786
1980 4.17549165
1981 2.68893464
1982 2.61414243
1983 2.24425935
1984 2.02611806
1985 1.9303849
1986 3.45578983
1987 3.3621341
1988 4.30240658
1989 4.37711289
1990 5.30385004
1991 3.77706572
1992 4.00151985
1993 4.54749786
1994 6.97991185
1995 7.69845283
1996 4.92265077
1997 6.2564421
1998 7.11940833
1999 4.77227225
2000 3.7298715
2001 4.80528929
2002 6.01024566
2003 6.49659594
2004 3.32029649
2005 3.11241331
2006 3.05068262
2007 3.33148272
2008 3.54488209
2009 3.20760378
2010 2.49416287
2011 2.40874917
2012 2.55639493
2013 2.54648429
2014 2.33503398
2015 3.0709982
2016 3.79547031
2017 4.33704756
2018 3.85745957
2019 3.01677441
2020 3.57129318
2021 2.9727411
2022

Congo, Rep. | 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 the Congo
Records
63
Source