Honduras | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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 | Total natural resources rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 4.44328537
1971 4.1877132
1972 5.05815676
1973 8.01066476
1974 8.30297216
1975 7.06120644
1976 4.93681169
1977 5.90897184
1978 3.25977384
1979 3.5313721
1980 3.80349199
1981 2.99184449
1982 5.63130162
1983 2.83901278
1984 2.27930065
1985 1.59092746
1986 0.6907245
1987 0.68414219
1988 2.73969678
1989 2.45802459
1990 3.21092333
1991 2.70781658
1992 2.19178077
1993 1.8349767
1994 2.27034904
1995 2.45297008
1996 1.9680215
1997 2.34343118
1998 1.85661666
1999 1.687614
2000 1.37113446
2001 1.43828418
2002 1.37053918
2003 1.21682443
2004 1.17065229
2005 1.19616286
2006 1.93886521
2007 1.6613616
2008 1.20679032
2009 1.16441148
2010 2.36463288
2011 1.70448075
2012 1.63060549
2013 1.78208818
2014 2.26612792
2015 1.56846231
2016 2.01566336
2017 1.72906722
2018 1.07184111
2019 0.91685521
2020 1.23326098
2021 1.22455314
2022

Honduras | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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