Europe & Central Asia (IDA & IBRD countries) | 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 (IDA & IBRD countries)
Records
63
Source
Europe & Central Asia (IDA & IBRD countries) | Coal rents (% of GDP)
year value
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 0.05958485
1988
1989
1990 0.75636613
1991 0.63163434
1992 0.51333875
1993 0.28895866
1994 0.19790934
1995 0.2653155
1996 0.21973672
1997 0.17645038
1998 0.17335117
1999 0.10949695
2000 0.17262652
2001 0.41361133
2002 0.23995953
2003 0.18509104
2004 0.62998828
2005 0.51027746
2006 0.46190258
2007 0.38657729
2008 1.21963331
2009 0.55935231
2010 0.73604675
2011 0.78323536
2012 0.3958282
2013 0.18120927
2014 0.16689069
2015 0.18367967
2016 0.22519818
2017 0.28872763
2018 0.3323825
2019 0.26174539
2020 0.20687651
2021 0.35515078
2022

Europe & Central Asia (IDA & IBRD countries) | 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 (IDA & IBRD countries)
Records
63
Source