Latin America & Caribbean (excluding high income) | 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
Latin America & Caribbean (excluding high income)
Records
63
Source
Latin America & Caribbean (excluding high income) | Forest rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.50807878
1971 0.44282336
1972 0.45775824
1973 0.62937459
1974 0.53271158
1975 0.60310454
1976 0.48093479
1977 0.67730729
1978 0.59516858
1979 0.63080134
1980 0.49851766
1981 0.37133188
1982 0.77435714
1983 0.34840024
1984 0.22878749
1985 0.18015927
1986 0.24006074
1987 0.27246206
1988 0.2431999
1989 0.50359454
1990 0.57896868
1991 0.56310809
1992 0.53809162
1993 0.44714885
1994 0.35391461
1995 0.43395577
1996 0.34807478
1997 0.32187198
1998 0.28082433
1999 0.30197552
2000 0.22824721
2001 0.23441979
2002 0.30116426
2003 0.32932253
2004 0.26051716
2005 0.23156679
2006 0.26951359
2007 0.2727775
2008 0.26165076
2009 0.28269694
2010 0.36918888
2011 0.30646874
2012 0.31410806
2013 0.35659579
2014 0.37596989
2015 0.40894181
2016 0.49382591
2017 0.45719597
2018 0.44103201
2019 0.37312051
2020 0.50659112
2021 0.39648987
2022

Latin America & Caribbean (excluding high income) | 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
Latin America & Caribbean (excluding high income)
Records
63
Source