Jamaica | 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
Jamaica
Records
63
Source
Jamaica | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.09668812
1971 0.0823422
1972 0.06334985
1973 0.112525
1974 0.10169455
1975 0.123163
1976 0.11222884
1977 0.16349884
1978 0.20026766
1979 0.25543872
1980 0.30159119
1981 0.25531624
1982 0.46017097
1983 0.15236126
1984 0.17551773
1985 0.21897372
1986 0.23962452
1987 0.26267766
1988 0.22080586
1989 0.22026917
1990 0.32114557
1991 0.33634844
1992 0.35121825
1993 0.20082442
1994 0.23505244
1995 0.23700425
1996 0.22255219
1997 0.18950265
1998 0.16269912
1999 0.14399161
2000 0.12395631
2001 0.12553384
2002 0.09244461
2003 0.10279011
2004 0.09316616
2005 0.08659054
2006 0.1168135
2007 0.12326022
2008 0.12865953
2009 0.14045348
2010 0.22458914
2011 0.18435935
2012 0.1752713
2013 0.22127891
2014 0.25012175
2015 0.21454913
2016 0.25611335
2017 0.22562346
2018 0.17600738
2019 0.151021
2020 0.20714175
2021 0.1627486
2022
Jamaica | 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
Jamaica
Records
63
Source