IDA & IBRD total | Forest rents (% of GDP)

Forest rents are roundwood harvest times the product of regional prices and a regional rental rate. 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 | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
0.94414794 1970
0.89717066 1971
1.03335549 1972
1.57087146 1973
1.2272937 1974
1.35865586 1975
1.27702017 1976
1.66979233 1977
1.57719335 1978
1.56238668 1979
1.51174782 1980
1.05476962 1981
1.44152975 1982
1.0998021 1983
0.85929071 1984
0.73594107 1985
1.01517965 1986
1.08064148 1987
0.86214953 1988
0.89357417 1989
0.84676033 1990
0.89588202 1991
1.07590702 1992
0.94620155 1993
0.89132045 1994
1.0483252 1995
0.94413532 1996
0.81170773 1997
0.78576336 1998
0.57234176 1999
0.51345555 2000
0.49793672 2001
0.5518269 2002
0.67894127 2003
0.49350316 2004
0.44210587 2005
0.44145197 2006
0.49510174 2007
0.50406644 2008
0.48154315 2009
0.45265893 2010
0.42099208 2011
0.41406969 2012
0.40821531 2013
0.44557151 2014
0.43653161 2015
0.4585172 2016
0.45294635 2017
0.36353762 2018
0.32999681 2019
0.36647855 2020
0.30882862 2021
2022

IDA & IBRD total | Forest rents (% of GDP)

Forest rents are roundwood harvest times the product of regional prices and a regional rental rate. 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