Dominican Republic | 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
Dominican Republic
Records
63
Source
Dominican Republic | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.06163672
1971 0.05670444
1972 0.06077882
1973 0.09163558
1974 0.07660144
1975 0.07957629
1976 0.06096367
1977 0.08721189
1978 0.08734875
1979 0.08494209
1980 0.0826159
1981 0.07220713
1982 0.14242353
1983 0.04569416
1984 0.02229998
1985 0.03437816
1986 0.028897
1987 0.0310165
1988 0.03327241
1989 0.02734273
1990 0.08092334
1991 0.06908981
1992 0.05541676
1993 0.0389014
1994 0.0412952
1995 0.04767433
1996 0.03223911
1997 0.0395835
1998 0.03180691
1999 0.02666771
2000 0.02396843
2001 0.02278901
2002 0.01946467
2003 0.02639084
2004 0.02619636
2005 0.01648278
2006 0.03475636
2007 0.03171194
2008 0.0303137
2009 0.02779163
2010 0.05612694
2011 0.04485687
2012 0.04216733
2013 0.05532011
2014 0.06415992
2015 0.04755316
2016 0.06088962
2017 0.05126017
2018 0.03654058
2019 0.0336235
2020 0.04391177
2021 0.03232299
2022

Dominican Republic | 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
Dominican Republic
Records
63
Source