Jordan | Natural gas rents (% of GDP)
Natural gas rents are the difference between the value of natural gas production at regional prices and total costs of production. 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
Hashemite Kingdom of Jordan
Records
63
Source
Jordan | Natural gas rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
0 1971
0 1972
0 1973
0 1974
0 1975
0 1976
0 1977
0 1978
0 1979
0 1980
0 1981
0 1982
0 1983
0 1984
0 1985
0 1986
0 1987
0 1988
0.03965195 1989
0.08901554 1990
0.07896166 1991
0.06727286 1992
0.07842833 1993
0.12379655 1994
0.12770368 1995
0.13161973 1996
0.14155028 1997
0.1220377 1998
0.10751039 1999
0.13014193 2000
0.1331266 2001
0.09760427 2002
0.10016253 2003
0.0976611 2004
0.09379845 2005
0.09146849 2006
0.07434175 2007
0.05440497 2008
0.05479301 2009
0.03846958 2010
0.04426672 2011
0.03840502 2012
0.03318977 2013
0.02563452 2014
0.01878362 2015
0.01168769 2016
0.01299804 2017
0.01871998 2018
0.01852377 2019
0.02908784 2020
0.04300357 2021
2022
Jordan | Natural gas rents (% of GDP)
Natural gas rents are the difference between the value of natural gas production at regional prices and total costs of production. 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
Hashemite Kingdom of Jordan
Records
63
Source