Finland | 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
Republic of Finland
Records
63
Source
Finland | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 1.46563425
1971 1.22610459
1972 1.2013024
1973 1.41993707
1974 1.20731273
1975 0.8727708
1976 0.85004171
1977 0.80560477
1978 1.09340876
1979 1.22712916
1980 1.18012867
1981 0.98098475
1982 0.8081997
1983 0.74512391
1984 0.64703295
1985 0.72408663
1986 0.63406501
1987 0.54807515
1988 0.50536068
1989 0.5306277
1990 0.43901928
1991 0.29825346
1992 0.38665303
1993 0.52233312
1994 0.51642649
1995 0.46065158
1996 0.4597168
1997 0.44122219
1998 0.43579355
1999 0.37665169
2000 0.4047886
2001 0.36900822
2002 0.40915393
2003 0.35814493
2004 0.26605498
2005 0.25057302
2006 0.26547502
2007 0.31121858
2008 0.28990932
2009 0.25254909
2010 0.32242409
2011 0.3045947
2012 0.29062793
2013 0.31703442
2014 0.33290382
2015 0.34675542
2016 0.34673297
2017 0.31331871
2018 0.41656387
2019 0.30868906
2020 0.25413669
2021 0.29360247
2022

Finland | 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
Republic of Finland
Records
63
Source