Egypt, Arab Rep. | 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
Arab Republic of Egypt
Records
63
Source
Egypt, Arab Rep. | Total natural resources rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 1.71748899
1971 1.82337152
1972 1.73987603
1973 1.78736988
1974 6.58972627
1975 7.95165849
1976 10.1700916
1977 12.90968303
1978 14.86517764
1979 29.91275849
1980 32.50936934
1981 28.51123864
1982 21.30620573
1983 20.42320989
1984 20.61219507
1985 18.63725708
1986 8.60401134
1987 12.85942793
1988 12.03436414
1989 14.8471424
1990 17.92112871
1991 12.93063765
1992 12.13515884
1993 10.78777858
1994 8.80666206
1995 8.46293558
1996 9.35519974
1997 6.97273047
1998 4.33399829
1999 5.93374873
2000 7.41974591
2001 6.4693858
2002 7.30037528
2003 9.13743176
2004 11.37711259
2005 14.46448521
2006 14.84638755
2007 13.5101746
2008 15.58248556
2009 9.13078194
2010 9.45061557
2011 12.3388402
2012 10.74549784
2013 9.78188256
2014 8.43222797
2015 4.12906895
2016 3.20908061
2017 5.69886429
2018 7.59656356
2019 5.72496131
2020 3.25774327
2021 5.13912007
2022

Egypt, Arab Rep. | 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
Arab Republic of Egypt
Records
63
Source