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