India | Natural gas rents (% of GDP)

Natural gas rents are the difference between the value of natural gas production at regional prices and 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 | Natural gas rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.01109401
1971 0.00899262
1972 0.0075671
1973 0.0065348
1974 0.00823682
1975 0.01427274
1976 0.01908349
1977 0.01964612
1978 0.01385451
1979 0.00973995
1980 0.01049376
1981 0.0018268
1982 0
1983 0.00919171
1984 0.00364468
1985 0.00413947
1986 0.0207657
1987 0.02294084
1988 0.02142642
1989 0.04292174
1990 0.05895994
1991 0.05665414
1992 0.0605821
1993 0.07083832
1994 0.07847616
1995 0.08949942
1996 0.09725848
1997 0.08926824
1998 0.10469367
1999 0.12143181
2000 0.17490829
2001 0.1530246
2002 0.22857573
2003 0.21253335
2004 0.20388944
2005 0.2206266
2006 0.19861066
2007 0.09888126
2008 0.10082474
2009 0.1398846
2010 0.15805347
2011 0.17141034
2012 0.15029704
2013 0.09350651
2014 0.08446385
2015 0.06891963
2016 0.06076164
2017 0.06164442
2018 0.06602389
2019 0.07022569
2020 0.06751429
2021 0.07749371
2022

India | Natural gas rents (% of GDP)

Natural gas rents are the difference between the value of natural gas production at regional prices and 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