Honduras | Mineral rents (% of GDP)
Mineral rents are the difference between the value of production for a stock of minerals at world prices and their total costs of production. Minerals included in the calculation are tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate. 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 Honduras
Records
63
Source
Honduras | Mineral rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.52639349
1971 0.46746763
1972 0.715512
1973 2.12091758
1974 3.12559531
1975 1.20949949
1976 0.93201908
1977 0.71012277
1978 0.3338916
1979 0.85104444
1980 0.86225366
1981 0.38841308
1982 0.83031899
1983 1.17612392
1984 1.23910537
1985 1.01134665
1986 0.14412644
1987 0.12956038
1988 2.06802614
1989 1.75470129
1990 1.02727246
1991 0.15318731
1992 0.02330244
1993 0.00849672
1994 0.00909211
1995 0.01184051
1996 0.01270514
1997 0.01423534
1998 0.00234945
1999 0
2000 0
2001 0.12228132
2002 0.03930121
2003 0
2004 0.02730737
2005 0.14759136
2006 0.67790247
2007 0.50711295
2008 0.12663869
2009 0.25464613
2010 0.52585126
2011 0.28779276
2012 0.33338527
2013 0.07451008
2014 0.26391735
2015 0.11710393
2016 0.16144371
2017 0.13593198
2018 0.00017835
2019 0.00055327
2020 0.00076175
2021 0.38458013
2022
Honduras | Mineral rents (% of GDP)
Mineral rents are the difference between the value of production for a stock of minerals at world prices and their total costs of production. Minerals included in the calculation are tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate. 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 Honduras
Records
63
Source