Denmark | Natural gas rents (% of GDP)

Natural gas rents are the difference between the value of natural gas production at regional prices and total costs of production. 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
Kingdom of Denmark
Records
63
Source
Denmark | Natural gas rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0
1971 0
1972 4.33E-6
1973 5.09E-6
1974 8.5E-6
1975 1.785E-5
1976 1.197E-5
1977 2.083E-5
1978 1.626E-5
1979 2.456E-5
1980 3.004E-5
1981 0.0010755
1982 0.00079554
1983 0.00171741
1984 0.01237633
1985 0.04398537
1986 0.05218677
1987 0.0283625
1988 0.02376325
1989 0.03046644
1990 0.03983946
1991 0.03526638
1992 0.01776707
1993 0.04688919
1994 0.04522638
1995 0.07656418
1996 0.08826712
1997 0.12739465
1998 0.01581108
1999 0.01577725
2000 0.12272556
2001 0.26723521
2002 0.18661106
2003 0.15791182
2004 0.14275221
2005 0.12764128
2006 0.26476481
2007 0.21471802
2008 0.38397197
2009 0.24866631
2010 0.21759478
2011 0.2508511
2012 0.2419064
2013 0.18763087
2014 0.12606631
2015 0.10889589
2016 0.06130426
2017 0.08609776
2018 0.10934958
2019 0.05836998
2020 0.01215353
2021 0.05510513
2022

Denmark | Natural gas rents (% of GDP)

Natural gas rents are the difference between the value of natural gas production at regional prices and total costs of production. 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
Kingdom of Denmark
Records
63
Source