India | 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
Republic of India
Records
63
Source
India | Coal rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 0.21491983
1972 0.23475043
1973 0.24638368
1974 0.46997968
1975 1.17509868
1976 1.22146649
1977 1.06095509
1978 0.83284168
1979 0.75568836
1980 0.91984783
1981 1.43688473
1982 1.56172086
1983 0.97660073
1984 0.87823154
1985 0.87880773
1986 0.67495795
1987 0.4145009
1988 0.52568255
1989 0.69309972
1990 0.7680575
1991 0.9742355
1992 0.84050082
1993 0.61205072
1994 0.5739752
1995 0.8637648
1996 0.77442852
1997 0.66385952
1998 0.52912078
1999 0.36781897
2000 0.49376859
2001 0.80391772
2002 0.56899761
2003 0.57374246
2004 1.35785293
2005 1.09839599
2006 1.102749
2007 1.1890023
2008 2.84447501
2009 1.38813219
2010 1.63399934
2011 2.00973995
2012 1.4844844
2013 1.21260035
2014 0.98260699
2015 0.76786951
2016 0.81269479
2017 0.94448046
2018 1.16154281
2019 0.83165135
2020 0.69992857
2021 1.2802917
2022

India | 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
Republic of India
Records
63
Source