Morocco | Natural gas rents (% of GDP)

Natural gas rents are the difference between the value of natural gas production at regional prices and 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
Kingdom of Morocco
Records
63
Source
Morocco | Natural gas rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 0.00771668
1972 0.00852752
1973 0.00875949
1974 0.00872944
1975 0.01269566
1976 0.01345926
1977 0.01556717
1978 0.01419015
1979 0.01727495
1980 0.01033235
1981 0.01391936
1982 0.0049967
1983 0.01741308
1984 0.01702602
1985 0.01833965
1986 0.01462637
1987 0.00934503
1988 0.00825298
1989 0.00582313
1990 0.00523124
1991 0.00299617
1992 0.0018044
1993 0.00196485
1994 0.0017957
1995 0.00111641
1996 0.00140103
1997 0.00303059
1998 0.00289316
1999 0.00321518
2000 0.00505602
2001 0.00552668
2002 0.00428651
2003 0.00323576
2004 0.00439367
2005 0.00357718
2006 0.00538871
2007 0.00522669
2008 0.00384883
2009 0.00327046
2010 0.00368849
2011 0.00487176
2012 0.0069041
2013 0.00794804
2014 0.00687829
2015 0.00432368
2016 0.00295472
2017 0.00340503
2018 0.00539924
2019 0.00587225
2020 0.0063193
2021 0.00921347
2022

Morocco | Natural gas rents (% of GDP)

Natural gas rents are the difference between the value of natural gas production at regional prices and 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
Kingdom of Morocco
Records
63
Source