High income | 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
High income
Records
63
Source
High income | Coal rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.06959878
1971 0.07439865
1972 0.06918405
1973 0.06870535
1974 0.13549333
1975 0.35244065
1976 0.36457796
1977 0.33143759
1978 0.23044823
1979 0.21312472
1980 0.25890021
1981 0.41701749
1982 0.45715283
1983 0.2504131
1984 0.19547134
1985 0.20356416
1986 0.10874919
1987 0.05101224
1988 0.0612942
1989 0.0824599
1990 0.09924024
1991 0.08662062
1992 0.06331887
1993 0.03295668
1994 0.0273272
1995 0.06839112
1996 0.07260367
1997 0.07179838
1998 0.06715659
1999 0.05066739
2000 0.06040454
2001 0.10364951
2002 0.07120577
2003 0.06483618
2004 0.15038689
2005 0.13078027
2006 0.13660453
2007 0.120418
2008 0.35395149
2009 0.16594281
2010 0.24047001
2011 0.29355827
2012 0.17973217
2013 0.13217495
2014 0.10896382
2015 0.07901859
2016 0.07387305
2017 0.09853009
2018 0.1046677
2019 0.07467456
2020 0.05079014
2021 0.0931556
2022

High income | 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
High income
Records
63
Source