Cote d'Ivoire | 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
Cote d'Ivoire
Records
63
Source
Cote d'Ivoire | Total natural resources rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 5.88211961
1971 5.64893582
1972 6.24912984
1973 7.46318789
1974 6.97736373
1975 5.73987904
1976 5.8418772
1977 5.292521
1978 4.33407993
1979 4.78950155
1980 4.92349095
1981 4.54771649
1982 5.51492458
1983 5.73408169
1984 5.26549185
1985 4.57801261
1986 3.5632042
1987 3.29287411
1988 2.81389098
1989 2.93839141
1990 4.08956491
1991 3.47748565
1992 3.46029006
1993 3.38754855
1994 5.29950792
1995 5.16486501
1996 3.10906316
1997 2.7970704
1998 2.46774712
1999 2.23064062
2000 2.86211491
2001 2.32208786
2002 2.45890648
2003 2.64883555
2004 2.49321708
2005 3.71197678
2006 5.60158448
2007 4.98387247
2008 5.56200252
2009 3.87323197
2010 4.33013803
2011 5.5323995
2012 5.36757176
2013 4.15503588
2014 3.41935511
2015 3.0725967
2016 3.23053072
2017 3.38876802
2018 3.1099691
2019 2.95827158
2020 2.59163858
2021 4.73502206
2022

Cote d'Ivoire | 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
Cote d'Ivoire
Records
63
Source