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
Middle income
Records
63
Source
Middle income | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.91754693
1971 0.88334338
1972 1.02484738
1973 1.58401788
1974 1.22400555
1975 1.32756473
1976 1.26768827
1977 1.64448076
1978 1.54940493
1979 1.56256391
1980 1.50682272
1981 0.99008188
1982 1.33235177
1983 1.03862251
1984 0.75598837
1985 0.67290637
1986 0.90726057
1987 0.98859307
1988 0.76228071
1989 0.80732297
1990 0.75223359
1991 0.83106018
1992 0.98762626
1993 0.88181691
1994 0.81075133
1995 0.94351994
1996 0.84728063
1997 0.72210482
1998 0.69143196
1999 0.50433078
2000 0.45074762
2001 0.43776013
2002 0.47411612
2003 0.5656136
2004 0.40616574
2005 0.36531492
2006 0.37918001
2007 0.41975696
2008 0.42973298
2009 0.3997133
2010 0.39236699
2011 0.35012852
2012 0.33631316
2013 0.325737
2014 0.35996806
2015 0.33107609
2016 0.3496999
2017 0.35398913
2018 0.29536882
2019 0.2659126
2020 0.29357379
2021 0.24336747
2022

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
Middle income
Records
63
Source