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
0.13259683 1970
0.11652728 1971
0.10746756 1972
0.13581174 1973
0.14324415 1974
0.12584779 1975
0.12827776 1976
0.1050684 1977
0.10902526 1978
0.1130308 1979
0.11620705 1980
0.10724677 1981
0.104064 1982
0.0943248 1983
0.08820334 1984
0.09316037 1985
0.08250638 1986
0.07616597 1987
0.07150921 1988
0.07690033 1989
0.07311824 1990
0.04829182 1991
0.09425756 1992
0.09397771 1993
0.07305394 1994
0.07711821 1995
0.07886003 1996
0.07787401 1997
0.06478137 1998
0.06791165 1999
0.07928937 2000
0.07265589 2001
0.06812792 2002
0.0676444 2003
0.05849879 2004
0.05922692 2005
0.06232097 2006
0.07079231 2007
0.06503177 2008
0.06157949 2009
0.07070195 2010
0.07199819 2011
0.07077421 2012
0.06855499 2013
0.07021552 2014
0.07092161 2015
0.07159774 2016
0.07876139 2017
0.08490383 2018
0.07487409 2019
0.07825177 2020
0.06794238 2021
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