Lower middle 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
Lower middle income
Records
63
Source
Lower middle income | Forest rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.82457249
1971 0.79848711
1972 0.80654519
1973 1.13460342
1974 0.90656686
1975 1.19852007
1976 0.92305221
1977 1.58135893
1978 1.4929614
1979 1.07404665
1980 1.07738848
1981 0.74365737
1982 1.00420462
1983 0.72327919
1984 0.63944907
1985 0.49876549
1986 0.72978332
1987 0.70156538
1988 0.74042446
1989 0.7794014
1990 0.89401579
1991 1.10171484
1992 1.10209939
1993 1.11842982
1994 1.18372508
1995 1.55896853
1996 1.42494853
1997 1.25971383
1998 1.3346072
1999 0.71937545
2000 0.66467498
2001 0.63947515
2002 0.71043528
2003 0.87114147
2004 0.6462504
2005 0.56970814
2006 0.57512585
2007 0.65998423
2008 0.72651638
2009 0.68343222
2010 0.65604747
2011 0.63790785
2012 0.62464854
2013 0.61430953
2014 0.6754624
2015 0.66836605
2016 0.67506513
2017 0.64525147
2018 0.4757854
2019 0.44557282
2020 0.49315138
2021 0.44151914
2022

Lower middle 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
Lower middle income
Records
63
Source