East Asia & Pacific (excluding high income) | 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
East Asia & Pacific (excluding high income)
Records
63
Source
East Asia & Pacific (excluding high income) | Natural gas rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
0 1970
0.00585106 1971
0.00879062 1972
0.01408333 1973
0.07483602 1974
0.14019397 1975
0.16306816 1976
0.18440782 1977
0.31548459 1978
0.45387094 1979
0.39450006 1980
0.14927264 1981
0.04747802 1982
0.11217681 1983
0.17145466 1984
0.23036534 1985
0.39300977 1986
0.35398788 1987
0.27363647 1988
0.29415923 1989
0.41050653 1990
0.35474876 1991
0.34984946 1992
0.37179305 1993
0.43711327 1994
0.38094574 1995
0.44032689 1996
0.47936513 1997
0.38602424 1998
0.41338545 1999
0.62969962 2000
0.54975323 2001
0.47118515 2002
0.56056035 2003
0.58799428 2004
0.57025912 2005
0.43699731 2006
0.34890956 2007
0.32121468 2008
0.28986264 2009
0.28267339 2010
0.25627482 2011
0.22829253 2012
0.21053303 2013
0.27565722 2014
0.30652527 2015
0.2265153 2016
0.22023895 2017
0.29794753 2018
0.29655658 2019
0.23012126 2020
0.35045118 2021
2022

East Asia & Pacific (excluding high income) | 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
East Asia & Pacific (excluding high income)
Records
63
Source