Iran, Islamic Rep. | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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
Islamic Republic of Iran
Records
63
Source
Iran, Islamic Rep. | Total natural resources rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 12.75731665
1971 16.45848964
1972 17.57308713
1973 19.29950182
1974 47.81139758
1975 38.14496458
1976 33.88792141
1977 30.32473823
1978 32.43596062
1979 36.96249415
1980 34.49356968
1981 27.26719842
1982 20.00163619
1983 16.23946636
1984 15.16897617
1985 13.36201643
1986 5.62097657
1987 12.15747965
1988 11.69101767
1989 18.39521719
1990 23.98544352
1991
1992
1993 30.84210651
1994 25.80959216
1995 20.77246897
1996 20.98946259
1997 19.75671594
1998 13.39501426
1999 18.62660779
2000 33.08219651
2001 24.05652828
2002 22.90156006
2003 24.18030709
2004 27.24436481
2005 34.48231602
2006 34.77912851
2007 29.18250719
2008 33.52275118
2009 20.33627432
2010 23.06804305
2011 25.34614645
2012 21.11871893
2013 24.94673903
2014 24.86078114
2015 15.23029948
2016 13.1358103
2017 17.46779643
2018 34.2395948
2019 27.80066615
2020 23.2391718
2021 30.44806009
2022

Iran, Islamic Rep. | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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
Islamic Republic of Iran
Records
63
Source