Gabon | 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
Gabonese Republic
Records
63
Source
Gabon | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 9.15481
1971 8.59446307
1972 10.73936759
1973 8.67974791
1974 4.59585177
1975 2.56438549
1976 1.60063617
1977 2.04030284
1978 2.71470375
1979 2.7093685
1980 2.26996553
1981 1.67221728
1982 1.77554562
1983 1.93736566
1984 1.80518839
1985 1.80916559
1986 2.15641464
1987 2.21978434
1988 2.09239172
1989 2.12829657
1990 2.3803503
1991 1.92599345
1992 2.18910242
1993 3.56183978
1994 4.25034284
1995 4.47950633
1996 3.70024308
1997 3.96229803
1998 4.65675575
1999 3.97142643
2000 3.99642449
2001 3.85907327
2002 4.44755484
2003 4.72256094
2004 2.28178436
2005 2.89119708
2006 3.63956826
2007 3.15538808
2008 3.77663356
2009 3.01125745
2010 1.98518178
2011 1.51071157
2012 2.04266338
2013 2.27001868
2014 2.24550798
2015 2.23499143
2016 2.38852306
2017 3.06748537
2018 2.57850658
2019 2.2438095
2020 3.30071988
2021 2.64578378
2022

Gabon | 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
Gabonese Republic
Records
63
Source