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
0.52639349 1970
0.46746763 1971
0.715512 1972
2.12091758 1973
3.12559531 1974
1.20949949 1975
0.93201908 1976
0.71012277 1977
0.3338916 1978
0.85104444 1979
0.86225366 1980
0.38841308 1981
0.83031899 1982
1.17612392 1983
1.23910537 1984
1.01134665 1985
0.14412644 1986
0.12956038 1987
2.06802614 1988
1.75470129 1989
1.02727246 1990
0.15318731 1991
0.02330244 1992
0.00849672 1993
0.00909211 1994
0.01184051 1995
0.01270514 1996
0.01423534 1997
0.00234945 1998
0 1999
0 2000
0.12228132 2001
0.03930121 2002
0 2003
0.02730737 2004
0.14759136 2005
0.67790247 2006
0.50711295 2007
0.12663869 2008
0.25464613 2009
0.52585126 2010
0.28779276 2011
0.33338527 2012
0.07451008 2013
0.26391735 2014
0.11710393 2015
0.16144371 2016
0.13593198 2017
0.00017835 2018
0.00055327 2019
0.00076175 2020
0.38458013 2021
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