IBRD only | 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
IBRD only
Records
63
Source
IBRD only | Coal rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 0.12963124
1972 0.12734558
1973 0.13055527
1974 0.3424475
1975 1.00697479
1976 1.01508529
1977 1.01153501
1978 1.05144588
1979 0.89891419
1980 1.26436559
1981 1.96645974
1982 2.20604352
1983 1.15851021
1984 0.85367736
1985 0.90367652
1986 0.54539048
1987 0.21350401
1988 0.39663685
1989 0.48295864
1990 0.54573342
1991 0.51702272
1992 0.37070491
1993 0.18102814
1994 0.14569831
1995 0.26307805
1996 0.18009733
1997 0.14441561
1998 0.13934147
1999 0.09011674
2000 0.13478173
2001 0.38797005
2002 0.19896072
2003 0.18761599
2004 1.03053296
2005 0.7618
2006 0.75935103
2007 0.87214424
2008 2.13616529
2009 0.86289259
2010 1.29230845
2011 1.67422913
2012 0.92661478
2013 0.61078858
2014 0.48194748
2015 0.31715443
2016 0.34389862
2017 0.43667887
2018 0.50288286
2019 0.38432268
2020 0.31898345
2021 0.55353499
2022

IBRD only | 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
IBRD only
Records
63
Source