East Asia & Pacific | 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
Records
63
Source
East Asia & Pacific | Natural gas rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0
1971 0.0033593
1972 0.00485489
1973 0.0077151
1974 0.04132849
1975 0.07703416
1976 0.08578709
1977 0.08739459
1978 0.10595864
1979 0.13557449
1980 0.14661061
1981 0.0545956
1982 0.01894651
1983 0.04127783
1984 0.05860494
1985 0.07664962
1986 0.09861878
1987 0.07917949
1988 0.05852451
1989 0.06529116
1990 0.08887327
1991 0.07179807
1992 0.07547309
1993 0.08478092
1994 0.0919109
1995 0.08822845
1996 0.11845813
1997 0.13710318
1998 0.11206098
1999 0.11752409
2000 0.18032478
2001 0.17995945
2002 0.16559142
2003 0.1981082
2004 0.21211103
2005 0.220137
2006 0.1943132
2007 0.17513812
2008 0.17513497
2009 0.16640851
2010 0.16835608
2011 0.16233562
2012 0.14853988
2013 0.15204842
2014 0.20666054
2015 0.23935936
2016 0.17837518
2017 0.1854388
2018 0.26370706
2019 0.27378337
2020 0.22026241
2021 0.33965966
2022
East Asia & Pacific | 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
Records
63
Source