East Asia & Pacific | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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 | Total natural resources rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.88680781
1971 0.87115527
1972 0.95409183
1973 1.53112702
1974 2.6863239
1975 3.08988712
1976 3.36638363
1977 3.33448398
1978 2.97472481
1979 4.97626387
1980 5.76757816
1981 4.64411162
1982 4.02504198
1983 3.41755661
1984 2.89947292
1985 2.72135151
1986 1.39187241
1987 1.44159239
1988 1.36428687
1989 1.57235679
1990 1.70075329
1991 1.15915857
1992 1.11886762
1993 0.98140407
1994 0.77060076
1995 0.82319169
1996 0.92613717
1997 0.86636586
1998 0.7289187
1999 0.72881717
2000 1.08264165
2001 1.10490531
2002 0.99407827
2003 1.07526966
2004 1.80103235
2005 2.2001422
2006 2.62243628
2007 3.23853431
2008 4.84617893
2009 2.32539288
2010 3.61011285
2011 4.51147314
2012 2.7422453
2013 2.36041503
2014 2.01848743
2015 1.19124394
2016 1.07853234
2017 1.35347242
2018 1.50221486
2019 1.38003921
2020 1.07759208
2021 2.17416769
2022

East Asia & Pacific | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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