Least developed countries: UN classification | 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
Least developed countries: UN classification
Records
63
Source
Least developed countries: UN classification | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 2.02160786
1971 1.80708023
1972 2.20265019
1973 3.26962937
1974 2.7599444
1975 2.69275051
1976 2.85610846
1977 4.91573628
1978 4.40789024
1979 3.64682572
1980 3.85470323
1981 4.04351575
1982 6.07400489
1983 4.21599315
1984 4.01757962
1985 2.9209397
1986 4.40914993
1987 3.93582914
1988 4.08710604
1989 3.9627325
1990 3.99298284
1991 3.42547759
1992 5.23929099
1993 4.36113442
1994 5.31768912
1995 7.7745155
1996 7.45466882
1997 6.49548711
1998 6.63620138
1999 4.27971571
2000 3.81267753
2001 3.86510533
2002 4.2156921
2003 5.95778349
2004 4.56173487
2005 3.99570956
2006 3.59530862
2007 4.37650764
2008 4.34670888
2009 4.29853347
2010 3.49592828
2011 3.62237954
2012 3.84164699
2013 3.75730009
2014 3.9504445
2015 4.14404778
2016 4.20933747
2017 3.77039521
2018 2.67401494
2019 2.49281491
2020 2.70605995
2021 2.61606181
2022
Least developed countries: UN classification | 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
Least developed countries: UN classification
Records
63
Source