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
Middle income
Records
63
Source
Middle income | Coal rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 0.1272059
1972 0.12524313
1973 0.13055596
1974 0.33184638
1975 0.941231
1976 0.95999597
1977 0.96832621
1978 0.99722969
1979 0.856045
1980 1.21030394
1981 1.78488087
1982 2.00549993
1983 1.09278728
1984 0.81085497
1985 0.8563473
1986 0.52044552
1987 0.21539111
1988 0.39085834
1989 0.47541285
1990 0.50946983
1991 0.48592707
1992 0.35353438
1993 0.17389175
1994 0.14212917
1995 0.25483882
1996 0.17327704
1997 0.13941152
1998 0.13497838
1999 0.09121246
2000 0.13382081
2001 0.38282961
2002 0.19554141
2003 0.1841882
2004 1.00918522
2005 0.75269971
2006 0.7511547
2007 0.87027005
2008 2.12871376
2009 0.85968695
2010 1.28475912
2011 1.65711849
2012 0.91653796
2013 0.60410629
2014 0.47675847
2015 0.3061687
2016 0.33152891
2017 0.42355054
2018 0.48899331
2019 0.37339222
2020 0.30986929
2021 0.54182449
2022

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
Middle income
Records
63
Source