Europe & Central Asia (excluding high income) | Coal rents (% of GDP)
Coal rents are the difference between the value of both hard and soft coal production at world prices and their 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
Europe & Central Asia (excluding high income)
Records
63
Source
Europe & Central Asia (excluding high income) | Coal rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.06813144
1971 0.09103804
1972 0.07273894
1973 0.06579917
1974 0.10436108
1975 0.26030653
1976 0.27065573
1977 0.23481619
1978 0.19179721
1979 0.11647083
1980 0.26526608
1981 0.51948262
1982 0.65643402
1983 0.35762492
1984 0.24311105
1985 0.30061307
1986 0.11434179
1987
1988
1989
1990 0.68399645
1991 0.57159923
1992 0.47527487
1993 0.26645629
1994 0.18526449
1995 0.2474335
1996 0.20986539
1997 0.16575203
1998 0.17682067
1999 0.12094661
2000 0.1829539
2001 0.44114613
2002 0.26030541
2003 0.19568161
2004 0.62085643
2005 0.52162987
2006 0.46864361
2007 0.38745782
2008 1.25344838
2009 0.59909388
2010 0.75590549
2011 0.79024428
2012 0.39597246
2013 0.18021149
2014 0.16967844
2015 0.1922137
2016 0.24055254
2017 0.31288735
2018 0.37322139
2019 0.29649085
2020 0.24034028
2021 0.40989437
2022
Europe & Central Asia (excluding high income) | Coal rents (% of GDP)
Coal rents are the difference between the value of both hard and soft coal production at world prices and their 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
Europe & Central Asia (excluding high income)
Records
63
Source