Germany | Mineral rents (% of GDP)

Mineral rents are the difference between the value of production for a stock of minerals at world prices and their total costs of production. Minerals included in the calculation are tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate. 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
Federal Republic of Germany
Records
63
Source
Germany | Mineral rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.00792984
1971 0.00555268
1972 0.00577425
1973 0.01862805
1974 0.00734104
1975 0.00199967
1976 0.0022605
1977 0.00227371
1978 0.00180784
1979 0.00525587
1980 0.01373341
1981 0.00963216
1982 0.00432273
1983 0.00628901
1984 0.00124943
1985 0.00120405
1986 0.00029803
1987 0.00044333
1988 0.00059957
1989 0.00050359
1990 0.00027054
1991 0.00044202
1992 0.00017674
1993 2.13E-6
1994 3.06E-6
1995 9.42E-6
1996 6.65E-6
1997 1.088E-5
1998 9.481E-5
1999 6.406E-5
2000 0.00022278
2001 0.00013506
2002 0.00011772
2003 6.146E-5
2004 9.515E-5
2005 0.00026492
2006 0.00031254
2007 0.00074753
2008 0.0010221
2009 0.00023475
2010 0.00097958
2011 0.00124544
2012 0.00074977
2013 0.00068831
2014 0.00039219
2015 0
2016 0
2017 0
2018 0
2019 0.03036557
2020 0.03172337
2021 0
2022

Germany | Mineral rents (% of GDP)

Mineral rents are the difference between the value of production for a stock of minerals at world prices and their total costs of production. Minerals included in the calculation are tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate. 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
Federal Republic of Germany
Records
63
Source