Kiribati | 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 Kiribati
Records
63
Source
Kiribati | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.01682226
1971 0.01211823
1972 0.01332248
1973 0.02167411
1974 0.00690789
1975 0.01061457
1976 0.01959389
1977 0.03047108
1978 0.02171497
1979 0.03430023
1980 0.04748137
1981 0.02898477
1982 0.02685292
1983 0.03011993
1984 0.02064595
1985 0.0282296
1986 0.0466752
1987 0.04211342
1988 0.03354012
1989 0.03457642
1990 0.03691804
1991 0.03798653
1992 0.05220822
1993 0.04370423
1994 0.04823358
1995 0.07891582
1996 0.07062083
1997 0.06079416
1998 0.05252322
1999 0.02724379
2000 0.02958428
2001 0.03759795
2002 0.0377433
2003 0.04501466
2004 0.04517638
2005 0.02792089
2006 0.03380181
2007 0.04330237
2008 0.07098351
2009 0.07314942
2010 0.06266774
2011 0.07361388
2012 0.0589179
2013 0.05570027
2014 0.08890508
2015 0.07327836
2016 0.08260638
2017 0.09295196
2018 0.04208662
2019 0.04274124
2020 0.05699391
2021 0.04350014
2022

Kiribati | 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 Kiribati
Records
63
Source