Greece | 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
Hellenic Republic
Records
63
Source
Greece | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.05777315
1971 0.05309649
1972 0.04552781
1973 0.05646886
1974 0.05249152
1975 0.06613738
1976 0.06445881
1977 0.06542015
1978 0.04607285
1979 0.04907372
1980 0.05576446
1981 0.04757994
1982 0.04420834
1983 0.04702805
1984 0.03969004
1985 0.04151989
1986 0.04986982
1987 0.03662077
1988 0.04371114
1989 0.04121814
1990 0.03273252
1991 0.0267905
1992 0.0201243
1993 0.01942913
1994 0.018328
1995 0.01730864
1996 0.01873191
1997 0.01268722
1998 0.00962931
1999 0.01305886
2000 0.01335465
2001 0.01128748
2002 0.00980991
2003 0.01050227
2004 0.00714801
2005 0.00708736
2006 0.00742398
2007 0.00892741
2008 0.00895179
2009 0.0061788
2010 0.00698267
2011 0.00794899
2012 0.01075438
2013 0.0126266
2014 0.01282244
2015 0.01234642
2016 0.01246854
2017 0.01408013
2018 0.0130537
2019 0.00955675
2020 0.00906454
2021 0.00857648
2022

Greece | 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
Hellenic Republic
Records
63
Source