Low 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
Low income
Records
63
Source
Low income | Forest rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 2.73384544
1971 2.30539823
1972 2.38465988
1973 3.38651
1974 2.98560301
1975 3.30801774
1976 2.75247261
1977 4.27916687
1978 4.00723832
1979 3.46821346
1980 3.8512614
1981 4.36467108
1982 6.54022398
1983 4.28647161
1984 4.33035548
1985 3.1725703
1986 4.42772779
1987 3.72043654
1988 4.70610372
1989 4.44120941
1990 4.03166818
1991 3.14540126
1992 5.14246527
1993 4.0163117
1994 4.62707037
1995 7.10506364
1996 6.83580961
1997 6.03837712
1998 6.17161996
1999 3.8681765
2000 3.37298139
2001 3.32403081
2002 3.70326038
2003 5.42435366
2004 4.06398098
2005 3.59671618
2006 3.16360004
2007 3.85670149
2008 3.79488925
2009 3.75946934
2010 2.99410856
2011 4.99555366
2012 6.06449003
2013 6.38732876
2014 6.58007022
2015 6.91506773
2016 7.34824553
2017 6.51788323
2018 5.43157973
2019 5.20648214
2020 5.75497957
2021 5.89209293
2022

Low 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
Low income
Records
63
Source