India | 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
Republic of India
Records
63
Source
India | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.41038829
1971 0.34118426
1972 0.33116662
1973 0.47556449
1974 0.49019327
1975 1.06999843
1976 0.67951402
1977 1.81326608
1978 1.6189458
1979 0.67490996
1980 0.66463215
1981 0.56998948
1982 0.83459201
1983 0.53666233
1984 0.46659006
1985 0.31418127
1986 0.53493122
1987 0.44430514
1988 0.4434727
1989 0.4430028
1990 0.53757853
1991 0.62412887
1992 0.61049842
1993 0.62034034
1994 0.44967394
1995 0.48963944
1996 0.41874162
1997 0.37887808
1998 0.36263435
1999 0.38552982
2000 0.3393297
2001 0.32822682
2002 0.37167373
2003 0.33928373
2004 0.2427996
2005 0.21192955
2006 0.28204866
2007 0.3017577
2008 0.29930517
2009 0.25920347
2010 0.37655774
2011 0.35161291
2012 0.30953265
2013 0.27967579
2014 0.26503112
2015 0.29500466
2016 0.29793836
2017 0.2067938
2018 0.14883514
2019 0.15588842
2020 0.18625915
2021 0.16072595
2022

India | 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
Republic of India
Records
63
Source