East Asia & Pacific (excluding high income) | Coal rents (% of GDP)

Coal rents are the difference between the value of both hard and soft coal production at world prices and their 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
East Asia & Pacific (excluding high income)
Records
63
Source
East Asia & Pacific (excluding high income) | Coal rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 0.05740744
1972 0.05330595
1973 0.05765567
1974 0.48881911
1975 1.86720387
1976 1.94829042
1977 1.9501731
1978 2.16500535
1979 1.79895907
1980 2.92164479
1981 4.78934486
1982 5.10740713
1983 2.67888404
1984 1.81493311
1985 1.83600175
1986 0.9328366
1987 0.11614366
1988 0.57003875
1989 0.94716437
1990 0.99078778
1991 0.76848587
1992 0.41235245
1993 0.08783214
1994 0.03930495
1995 0.27633788
1996 0.08518778
1997 0.05883958
1998 0.12294449
1999 0.05703368
2000 0.12114305
2001 0.64504546
2002 0.21596779
2003 0.1808487
2004 1.99167767
2005 1.48594151
2006 1.50429247
2007 1.77990032
2008 4.20342731
2009 1.49065731
2010 2.3630207
2011 3.12200847
2012 1.59566158
2013 0.99505202
2014 0.74186905
2015 0.38405619
2016 0.39623897
2017 0.51749
2018 0.56933277
2019 0.43670265
2020 0.35195719
2021 0.60392134
2022

East Asia & Pacific (excluding high income) | Coal rents (% of GDP)

Coal rents are the difference between the value of both hard and soft coal production at world prices and their 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
East Asia & Pacific (excluding high income)
Records
63
Source