Lower middle income | Coal rents (% of GDP)

Coal rents are the difference between the value of both hard and soft coal production at world prices and their 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
Lower middle income
Records
63
Source
Lower middle income | Coal rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 0.10690681
1972 0.11299635
1973 0.11787881
1974 0.19457167
1975 0.42819461
1976 0.42360279
1977 0.38128291
1978 0.30155141
1979 0.26007372
1980 0.32822412
1981 0.43770734
1982 0.48289446
1983 0.33320775
1984 0.29388368
1985 0.30392335
1986 0.22621268
1987 0.17317934
1988 0.22501302
1989 0.30073306
1990 0.46894575
1991 0.55410264
1992 0.47064619
1993 0.2934081
1994 0.25220428
1995 0.33276461
1996 0.2783252
1997 0.24338233
1998 0.20171886
1999 0.15946937
2000 0.20679483
2001 0.34785001
2002 0.25175703
2003 0.24666236
2004 0.60850055
2005 0.51586211
2006 0.50204465
2007 0.53838847
2008 1.20435668
2009 0.6171267
2010 0.77482154
2011 0.93590248
2012 0.61159946
2013 0.47193779
2014 0.39273828
2015 0.31322541
2016 0.34638304
2017 0.43581828
2018 0.5331272
2019 0.3894782
2020 0.31782939
2021 0.59051826
2022

Lower middle income | Coal rents (% of GDP)

Coal rents are the difference between the value of both hard and soft coal production at world prices and their 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
Lower middle income
Records
63
Source