Europe & Central Asia | Forest rents (% of GDP)
Forest rents are roundwood harvest times the product of regional prices and a regional rental rate. 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
Records
63
Source
Europe & Central Asia | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.13259683
1971 0.11652728
1972 0.10746756
1973 0.13581174
1974 0.14324415
1975 0.12584779
1976 0.12827776
1977 0.1050684
1978 0.10902526
1979 0.1130308
1980 0.11620705
1981 0.10724677
1982 0.104064
1983 0.0943248
1984 0.08820334
1985 0.09316037
1986 0.08250638
1987 0.07616597
1988 0.07150921
1989 0.07690033
1990 0.07311824
1991 0.04829182
1992 0.09425756
1993 0.09397771
1994 0.07305394
1995 0.07711821
1996 0.07886003
1997 0.07787401
1998 0.06478137
1999 0.06791165
2000 0.07928937
2001 0.07265589
2002 0.06812792
2003 0.0676444
2004 0.05849879
2005 0.05922692
2006 0.06232097
2007 0.07079231
2008 0.06503177
2009 0.06157949
2010 0.07070195
2011 0.07199819
2012 0.07077421
2013 0.06855499
2014 0.07021552
2015 0.07092161
2016 0.07159774
2017 0.07876139
2018 0.08490383
2019 0.07487409
2020 0.07825177
2021 0.06794238
2022
Europe & Central Asia | Forest rents (% of GDP)
Forest rents are roundwood harvest times the product of regional prices and a regional rental rate. 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
Records
63
Source