Ireland | 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 Ireland
Records
63
Source
Ireland | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.03584818
1971 0.03023874
1972 0.03458435
1973 0.045349
1974 0.0282761
1975 0.03276269
1976 0.0523871
1977 0.03241433
1978 0.04070982
1979 0.02772517
1980 0.02548929
1981 0.0240538
1982 0.06471307
1983 0.05329048
1984 0.0585062
1985 0.06658099
1986 0.05612646
1987 0.05084069
1988 0.04919691
1989 0.0575358
1990 0.05626082
1991 0.04232026
1992 0.04486539
1993 0.04176577
1994 0.04263075
1995 0.04252962
1996 0.04332401
1997 0.03205212
1998 0.03096267
1999 0.02713768
2000 0.02635863
2001 0.02170827
2002 0.02448033
2003 0.01984857
2004 0.01388303
2005 0.01318557
2006 0.01375653
2007 0.01445449
2008 0.01302188
2009 0.01464129
2010 0.01823859
2011 0.01793751
2012 0.01657972
2013 0.01807377
2014 0.01758108
2015 0.01387406
2016 0.01428878
2017 0.01422753
2018 0.01795948
2019 0.01410421
2020 0.01160721
2021 0.01171597
2022

Ireland | 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 Ireland
Records
63
Source