Egypt, Arab Rep. | 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
Arab Republic of Egypt
Records
63
Source
Egypt, Arab Rep. | Natural gas rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
0.00632852 1970
0.00572476 1971
0.00526041 1972
0.00393012 1973
0.00483456 1974
0.00615111 1975
0.04129317 1976
0.05657924 1977
0.10234923 1978
0.20121266 1979
0.30309636 1980
0.28527221 1981
0.09614363 1982
0.30514831 1983
0.31903443 1984
0.32804056 1985
0.38265957 1986
0.37934404 1987
0.49344774 1988
0.47481742 1989
0.51002044 1990
0.63150767 1991
0.58381884 1992
0.63089672 1993
0.6384447 1994
0.61272828 1995
0.6329662 1996
0.59398667 1997
0.52518838 1998
0.55960122 1999
0.80988361 2000
1.1260901 2001
1.18806425 2002
1.34012259 2003
1.60233568 2004
2.33458676 2005
2.82023022 2006
2.45152201 2007
2.18068996 2008
2.05000012 2009
1.59621034 2010
1.89361087 2011
1.63298671 2012
1.48462316 2013
1.15200734 2014
0.71758747 2015
0.506687 2016
1.0482831 2017
1.89151906 2018
1.67276468 2019
1.27251663 2020
2.04572587 2021
2022
Egypt, Arab Rep. | 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
Arab Republic of Egypt
Records
63
Source