High income | 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
High income
Records
63
Source
High income | Forest rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.125988
1971 0.13332744
1972 0.12303937
1973 0.16079635
1974 0.14843344
1975 0.14781045
1976 0.14370968
1977 0.12999294
1978 0.13524358
1979 0.14712916
1980 0.13527521
1981 0.11055819
1982 0.12011639
1983 0.10300372
1984 0.09239976
1985 0.09059788
1986 0.08840419
1987 0.08549948
1988 0.08386054
1989 0.08860142
1990 0.09170955
1991 0.06949335
1992 0.06779589
1993 0.08538144
1994 0.07549099
1995 0.07651019
1996 0.0743726
1997 0.0715434
1998 0.05908453
1999 0.05856586
2000 0.05886096
2001 0.05204503
2002 0.05253515
2003 0.05073996
2004 0.04701249
2005 0.04757809
2006 0.04920047
2007 0.05405553
2008 0.04936021
2009 0.04288046
2010 0.04992729
2011 0.04975498
2012 0.04577922
2013 0.049065
2014 0.05061641
2015 0.04797386
2016 0.04831249
2017 0.05686794
2018 0.05429764
2019 0.05139467
2020 0.05026731
2021 0.04939371
2022

High income | 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
High income
Records
63
Source