Latin America & the Caribbean (IDA & IBRD countries) | 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 & the Caribbean (IDA & IBRD countries)
Records
63
Source
Latin America & the Caribbean (IDA & IBRD countries) | Forest rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.47473424
1971 0.41676516
1972 0.44059076
1973 0.57545387
1974 0.49766473
1975 0.59842045
1976 0.46544356
1977 0.61954844
1978 0.56596448
1979 0.58605051
1980 0.47064418
1981 0.35347678
1982 0.69446917
1983 0.3433037
1984 0.2371227
1985 0.18086
1986 0.23775784
1987 0.27953335
1988 0.2563632
1989 0.49695909
1990 0.58667378
1991 0.56317815
1992 0.53448056
1993 0.45543014
1994 0.36391693
1995 0.44157084
1996 0.35203623
1997 0.32331137
1998 0.28332441
1999 0.30722369
2000 0.22772945
2001 0.23590236
2002 0.31195442
2003 0.33281949
2004 0.26349926
2005 0.23672641
2006 0.27190731
2007 0.27982208
2008 0.27237544
2009 0.28700138
2010 0.37328801
2011 0.31685459
2012 0.31659644
2013 0.36118038
2014 0.37597041
2015 0.44500376
2016 0.52679949
2017 0.49911982
2018 0.48405877
2019 0.41401895
2020 0.55690608
2021 0.42736853
2022

Latin America & the Caribbean (IDA & IBRD countries) | 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 & the Caribbean (IDA & IBRD countries)
Records
63
Source