Guatemala | 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 Guatemala
Records
63
Source
Guatemala | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 1.17408533
1971 1.02244682
1972 1.09539905
1973 1.4652678
1974 1.26670978
1975 1.55738965
1976 0.99324151
1977 1.41439776
1978 1.33232876
1979 1.22288321
1980 1.27804313
1981 1.10892445
1982 2.39985381
1983 0.81944021
1984 0.48915619
1985 0.31019697
1986 0.41817368
1987 0.44948097
1988 0.42961673
1989 0.42008296
1990 1.52685393
1991 1.52695074
1992 1.33658236
1993 1.13459246
1994 1.16661551
1995 1.36040192
1996 0.9135744
1997 1.08987577
1998 0.88797183
1999 0.86239445
2000 0.80569022
2001 0.86543117
2002 0.74925855
2003 0.74689828
2004 0.72691794
2005 0.64492019
2006 0.83207883
2007 0.77878943
2008 0.73664429
2009 0.76759143
2010 1.53514286
2011 1.17831671
2012 1.07154995
2013 1.372831
2014 1.58356684
2015 1.15979901
2016 1.48066745
2017 1.19077832
2018 0.81340956
2019 0.70741508
2020 0.94563836
2021 0.68876688
2022
Guatemala | 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 Guatemala
Records
63
Source