Kuwait | 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
State of Kuwait
Records
63
Source
Kuwait | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.00070731
1971 0.0004486
1972 0.00044179
1973 0.0005252
1974 0.00027705
1975 0.00039353
1976 0.00030708
1977 0.0003517
1978 0.00044901
1979 0.00036323
1980 0.00034548
1981 0.0004398
1982 0.00128929
1983 0.00085097
1984 0.00085549
1985 0.0003264
1986 0.00117588
1987 0.00099655
1988 0.00117913
1989 0.00099425
1990 0.00145343
1991 0.00275763
1992 0.00090131
1993 0.00045134
1994 0.00021549
1995 0.00025708
1996 0.00021749
1997 0.00024091
1998 0.00045574
1999 0.00034986
2000 0.00028359
2001 0.000348
2002 0.00036045
2003 0.00041608
2004 0.00033144
2005 0.00024516
2006 0.00024171
2007 0.00020039
2008 0.00027728
2009 0.00038065
2010 0.0004238
2011 0.00036917
2012 0.00037964
2013 0.00031858
2014 0.00054583
2015 0.00072164
2016 0.00059238
2017 0.00067044
2018 0.00030096
2019 0.00041526
2020 0.00049295
2021
2022

Kuwait | 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
State of Kuwait
Records
63
Source