Myanmar | 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
Republic of the Union of Myanmar
Records
63
Source
Myanmar | Natural gas rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0
1971 0.00340964
1972 0.00479217
1973 0.00863126
1974 0.2489617
1975 0.41805749
1976 0.5971174
1977 0.59507632
1978 0.86995088
1979 1.22188078
1980 1.32964303
1981 0.57819336
1982 0.21261687
1983 0.46505577
1984 0.76359802
1985 1.22757981
1986 2.12854823
1987 2.15688269
1988 1.7373921
1989 1.65433377
1990 1.82653977
1991 1.39571769
1992 1.43038034
1993 1.44373877
1994 1.5643972
1995 1.46070698
1996 1.41036753
1997 1.40741174
1998 1.44765762
1999 1.27486862
2000 3.24243847
2001 6.67584866
2002 7.08826701
2003 8.04869868
2004 8.14214333
2005 9.26676467
2006 7.11993514
2007 5.57960172
2008 3.82889757
2009 2.68196178
2010 2.39365031
2011 1.83559799
2012 1.64277524
2013 1.59345179
2014 2.48423798
2015 3.15576965
2016 2.61215166
2017 2.58866846
2018 3.24961569
2019 3.2318636
2020 2.1642759
2021 4.39650989
2022

Myanmar | 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
Republic of the Union of Myanmar
Records
63
Source