Iraq | 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 Iraq
Records
63
Source
Iraq | Forest rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.00775161
1971 0.01681097
1972 0.00880789
1973 0.00958363
1974 0.0054208
1975 0.01028362
1976 0.0039429
1977 0.00648699
1978 0.00548282
1979 0.00461531
1980 0.00348755
1981 0.0037933
1982 0.00465021
1983 0.00423393
1984 0.00302689
1985 0.00251314
1986 0.00377828
1987 0.00329814
1988 0.00297662
1989 0.00301451
1990 0.00107988
1991 0.61772704
1992 0.40079044
1993 0.2785456
1994 0.02858362
1995 0.0147763
1996 0.02223317
1997 0.0154157
1998 0.02007178
1999 0.01516919
2000 0.00534755
2001 0.01081138
2002 0.01130568
2003 0.01797313
2004 0.00762604
2005 0.00553847
2006 0.00537288
2007 0.0039473
2008 0.00475784
2009 0.00566266
2010 0.00560827
2011 0.00428611
2012 0.00413075
2013 0.00363826
2014 0.00467138
2015 0.00537112
2016 0.00373016
2017 0.00473329
2018 0.00339172
2019 0.00400134
2020 0.00381568
2021 0.00323627
2022

Iraq | 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 Iraq
Records
63
Source