IDA & IBRD total | 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
IDA & IBRD total
Records
63
Source
IDA & IBRD total | Coal rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 0.11871922
1972 0.11745712
1973 0.12189574
1974 0.30981473
1975 0.89347509
1976 0.90492987
1977 0.90749764
1978 0.93759652
1979 0.80011101
1980 1.11454048
1981 1.63500752
1982 1.84993001
1983 1.01471281
1984 0.75369941
1985 0.79693145
1986 0.48279782
1987 0.19843455
1988 0.36041908
1989 0.44611032
1990 0.5067576
1991 0.47544762
1992 0.34646548
1993 0.17178533
1994 0.13824281
1995 0.24486943
1996 0.16787299
1997 0.13492038
1998 0.12894488
1999 0.08571268
2000 0.12640544
2001 0.35972507
2002 0.18484629
2003 0.17401167
2004 0.94543131
2005 0.70229348
2006 0.69908632
2007 0.80547337
2008 1.97212872
2009 0.79568777
2010 1.19558235
2011 1.56681165
2012 0.86792116
2013 0.57142219
2014 0.44988036
2015 0.29523624
2016 0.3199418
2017 0.40910461
2018 0.4727712
2019 0.36067052
2020 0.2982974
2021 0.52072394
2022

IDA & IBRD total | 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
IDA & IBRD total
Records
63
Source