Late-demographic dividend | 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
Late-demographic dividend
Records
63
Source
Late-demographic dividend | Natural gas rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.00702558
1971 0.0314855
1972 0.03887968
1973 0.04153473
1974 0.10729737
1975 0.20674379
1976 0.239391
1977 0.2371196
1978 0.32002848
1979 0.33183139
1980 0.35539016
1981 0.18362804
1982 0.06432708
1983 0.19430995
1984 0.23025008
1985 0.26767114
1986 0.35702499
1987 0.34499147
1988 0.54017549
1989 0.45468839
1990 0.63373839
1991 0.48592255
1992 0.32314208
1993 0.51652798
1994 0.4861925
1995 0.61808357
1996 0.56669219
1997 0.58473748
1998 0.23271282
1999 0.27230457
2000 0.66103977
2001 1.01656098
2002 0.78364279
2003 0.79342618
2004 0.68206643
2005 0.59382721
2006 0.80936957
2007 0.6751816
2008 0.87439198
2009 0.66831323
2010 0.57246596
2011 0.71384541
2012 0.6894362
2013 0.65124123
2014 0.53282113
2015 0.46488268
2016 0.31641158
2017 0.3614054
2018 0.54267574
2019 0.46800211
2020 0.33748229
2021 0.80532078
2022

Late-demographic dividend | 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
Late-demographic dividend
Records
63
Source