Dominica | 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
Commonwealth of Dominica
Records
63
Source
Dominica | Forest rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977 0.19056923
1978 0.15293579
1979 0.18052004
1980 0.15310597
1981 0.12096139
1982 0.23547794
1983 0.07205281
1984 0.03770853
1985 0.02166903
1986 0.018935
1987 0.01624668
1988 0.01425806
1989 0.01331804
1990 0.04249033
1991 0.04603854
1992 0.04058254
1993 0.02963855
1994 0.03318064
1995 0.04028536
1996 0.02761482
1997 0.03789633
1998 0.03074919
1999 0.02546173
2000 0.02491718
2001 0.02427288
2002 0.02213896
2003 0.02281077
2004 0.02202869
2005 0.02163434
2006 0.02868073
2007 0.02706537
2008 0.026124
2009 0.02198655
2010 0.04915488
2011 0.0412283
2012 0.04145208
2013 0.05393744
2014 0.06514518
2015 0.04746771
2016 0.0602344
2017 0.05594543
2018 0.0348243
2019 0.02842603
2020 0.04628933
2021 0.03306787
2022

Dominica | 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
Commonwealth of Dominica
Records
63
Source