IDA 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
IDA only
Records
63
Source
IDA only | Coal rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 0.01169385
1972 0.0159406
1973 0.01736594
1974 0.01708811
1975 0.02649945
1976 0.03156404
1977
1978 0.01928588
1979 0.01396679
1980 0.09411985
1981 0.10519361
1982 0.12714019
1983 0.13040474
1984 0.09542239
1985 0.08322501
1986 0.05404227
1987 0.03547434
1988 0.02872738
1989 0.03989152
1990 0.04268402
1991 0.03692267
1992 0.03214914
1993 0.02310847
1994 0.01690458
1995 0.02050216
1996 0.02053192
1997 0.019139
1998 0.01901709
1999 0.01362761
2000 0.01289813
2001 0.01850234
2002 0.01607491
2003 0.01352402
2004 0.02169729
2005 0.02996457
2006 0.03074278
2007 0.02688977
2008 0.08723919
2009 0.03932726
2010 0.05469422
2011 0.10605308
2012 0.07854809
2013 0.05607053
2014 0.04763141
2015 0.0339901
2016 0.03565068
2017 0.07149878
2018 0.09818841
2019 0.05920832
2020 0.03280174
2021 0.0650522
2022

IDA 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
IDA only
Records
63
Source