Heavily indebted poor countries (HIPC) | Coal rents (% of GDP)

Coal rents are the difference between the value of both hard and soft coal production at world prices and their total costs of production. 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
Heavily indebted poor countries (HIPC)
Records
63
Source
Heavily indebted poor countries (HIPC) | Coal rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978 0.02657415
1979 0.01908964
1980 0.1251904
1981 0.14252505
1982 0.17498525
1983 0.18273108
1984 0.13168479
1985 0.12111851
1986 0.0759271
1987 0.05131139
1988 0.03707343
1989 0.05298694
1990 0.05195941
1991 0.04548314
1992 0.04945207
1993 0.03841305
1994 0.03385491
1995 0.03722512
1996 0.03835005
1997 0.03618593
1998 0.03556256
1999 0.0260253
2000 0.02346087
2001 0.03126871
2002 0.02916723
2003 0.02365696
2004 0.02920336
2005 0.04714458
2006 0.04541904
2007 0.02957556
2008 0.08132408
2009 0.04585295
2010 0.05941557
2011 0.11722369
2012 0.09435887
2013 0.07084963
2014 0.0601187
2015 0.04490816
2016 0.04685911
2017 0.10074851
2018 0.14688442
2019 0.0851393
2020 0.04309298
2021 0.08563173
2022

Heavily indebted poor countries (HIPC) | Coal rents (% of GDP)

Coal rents are the difference between the value of both hard and soft coal production at world prices and their total costs of production. 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
Heavily indebted poor countries (HIPC)
Records
63
Source