Luxembourg | 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
Grand Duchy of Luxembourg
Records
63
Source
Luxembourg | Forest rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.05241493
1971 0.05760262
1972 0.05610041
1973 0.059251
1974 0.05157789
1975 0.0627908
1976 0.0640655
1977 0.05288537
1978 0.04702707
1979 0.04833993
1980 0.05175715
1981 0.04560979
1982 0.0524404
1983 0.04897128
1984 0.04288913
1985 0.04692928
1986 0.03856085
1987 0.03551065
1988 0.03595468
1989 0.04272579
1990 0.03620676
1991 0.02478154
1992 0.02083989
1993 0.02289025
1994 0.02002492
1995 0.01829701
1996 0.01893176
1997 0.01609894
1998 0.01741674
1999 0.01744323
2000 0.01900862
2001 0.01878757
2002 0.01725268
2003 0.01506645
2004 0.0096572
2005 0.00984259
2006 0.01165927
2007 0.01455089
2008 0.01420325
2009 0.01388653
2010 0.01747289
2011 0.01518523
2012 0.01334003
2013 0.00955371
2014 0.01165399
2015 0.01216473
2016 0.01006631
2017 0.00960957
2018 0.01316141
2019 0.00887357
2020 0.0066636
2021 0.00475137
2022

Luxembourg | 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
Grand Duchy of Luxembourg
Records
63
Source