Germany | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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 | Total natural resources rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.24389662
1971 0.259783
1972 0.22196484
1973 0.23637006
1974 0.39549919
1975 0.764278
1976 0.80426005
1977 0.67921157
1978 0.50514785
1979 0.49822612
1980 0.61061697
1981 0.9664829
1982 0.98556401
1983 0.63931904
1984 0.51809136
1985 0.55265748
1986 0.25233789
1987 0.14949271
1988 0.13466734
1989 0.17431177
1990 0.23086703
1991 0.13009541
1992 0.09150648
1993 0.07562199
1994 0.06182218
1995 0.07486953
1996 0.08227662
1997 0.08063391
1998 0.05289738
1999 0.0466618
2000 0.09414689
2001 0.13152898
2002 0.10482575
2003 0.09637924
2004 0.13840361
2005 0.13885459
2006 0.16391064
2007 0.17090017
2008 0.30596863
2009 0.15893471
2010 0.19552237
2011 0.22855494
2012 0.16485619
2013 0.12505563
2014 0.09736126
2015 0.07601201
2016 0.06422025
2017 0.06826367
2018 0.08476546
2019 0.09262603
2020 0.0767454
2021 0.0770849
2022

Germany | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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