Late-demographic dividend | Coal rents (% of GDP)

Coal rents are the difference between the value of both hard and soft coal production at world prices and their 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
Late-demographic dividend
Records
63
Source
Late-demographic dividend | Coal rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 0.05008946
1972 0.0465697
1973 0.05043259
1974 0.42220471
1975 1.60005091
1976 1.6463139
1977 1.62645292
1978 1.83597536
1979 1.52777145
1980 2.25234628
1981 3.75174443
1982 4.17735811
1983 2.19306531
1984 1.50281576
1985 1.53576977
1986 0.76797546
1987 0.09460476
1988
1989 0.52006673
1990 0.60224837
1991 0.49874887
1992 0.32602298
1993 0.11951235
1994 0.06500389
1995 0.18340875
1996 0.08788602
1997 0.06456888
1998 0.08618579
1999 0.04824133
2000 0.08978738
2001 0.40167667
2002 0.15803924
2003 0.13215058
2004 1.16725156
2005 0.85306546
2006 0.8371341
2007 0.94877689
2008 2.38810376
2009 0.93209387
2010 1.45439418
2011 1.86448621
2012 0.98664143
2013 0.61131799
2014 0.47711765
2015 0.28835183
2016 0.30573939
2017 0.39376852
2018 0.43639649
2019 0.33928932
2020 0.27830916
2021 0.48012821
2022

Late-demographic dividend | Coal rents (% of GDP)

Coal rents are the difference between the value of both hard and soft coal production at world prices and their 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
Late-demographic dividend
Records
63
Source