Japan | Mineral rents (% of GDP)

Mineral rents are the difference between the value of production for a stock of minerals at world prices and their total costs of production. Minerals included in the calculation are tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate. 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
State of Japan
Records
63
Source
Japan | Mineral rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.06379257
1971 0.03788772
1972 0.02484388
1973 0.0519495
1974 0.06133165
1975 0.01509051
1976 0.01422213
1977 0.00953914
1978 0.00572498
1979 0.01088962
1980 0.01570612
1981 0.00608666
1982 0.00412404
1983 0.00407981
1984 0.00270312
1985 0.00269019
1986 0.00214546
1987 0.00237612
1988 0.00668717
1989 0.00688353
1990 0.00293169
1991 0.00205915
1992 0.00206424
1993 0.00091498
1994 0.00113407
1995 0.00096411
1996 0.00074351
1997 0.00087557
1998 0.00060642
1999 0.00060188
2000 0.00053918
2001 0.00042779
2002 0.00061832
2003 0.00067913
2004 0.00089822
2005 0.00121465
2006 0.0018917
2007 0.00174846
2008 0.00142083
2009 0.00202663
2010 0.00280598
2011 0.00350691
2012 0.00265563
2013 0.00201428
2014 0.00169009
2015 0.00171885
2016 0.00146695
2017 0.0015486
2018 0.00182507
2019 0.06075575
2020 0.06769628
2021 0.00720554
2022

Japan | Mineral rents (% of GDP)

Mineral rents are the difference between the value of production for a stock of minerals at world prices and their total costs of production. Minerals included in the calculation are tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate. 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
State of Japan
Records
63
Source