Early-demographic dividend | 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
Early-demographic dividend
Records
63
Source
Early-demographic dividend | Natural gas rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.0731439
1971 0.06534654
1972 0.05931025
1973 0.06412522
1974 0.07014015
1975 0.14018771
1976 0.1382948
1977 0.13125922
1978 0.16162381
1979 0.26318671
1980 0.24476808
1981 0.16140464
1982 0.06256795
1983 0.24092671
1984 0.27420491
1985 0.28480981
1986 0.32875942
1987 0.36033892
1988 0.33852105
1989 0.37919553
1990 0.45510828
1991 0.36948007
1992 0.31695875
1993 0.37917436
1994 0.38669314
1995 0.42836412
1996 0.45680115
1997 0.46286016
1998 0.38091873
1999 0.40586448
2000 0.60015598
2001 0.70592935
2002 0.67559252
2003 0.67012246
2004 0.62825251
2005 0.70437633
2006 0.75170147
2007 0.64450797
2008 0.69338409
2009 0.68955435
2010 0.56812541
2011 0.71588941
2012 0.72074847
2013 0.70413478
2014 0.66223533
2015 0.54427331
2016 0.39421077
2017 0.44376105
2018 0.70215728
2019 0.6664328
2020 0.61185916
2021 0.89664105
2022

Early-demographic dividend | 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
Early-demographic dividend
Records
63
Source