Myanmar | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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 | Total natural resources rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
7.56598226 1970
7.95560274 1971
10.24159896 1972
21.71338957 1973
20.46444599 1974
19.92040755 1975
21.26323282 1976
31.38530498 1977
33.98300176 1978
65.38180018 1979
69.22861249 1980
44.55799952 1981
34.67680833 1982
32.6731835 1983
29.40701108 1984
29.99225269 1985
21.3508418 1986
25.88629136 1987
26.07455646 1988
21.20644846 1989
25.52338311 1990
24.88043247 1991
29.36859448 1992
20.08509271 1993
17.22758569 1994
19.06754324 1995
16.98860998 1996
15.08307123 1997
14.65210091 1998
9.2937269 1999
10.84565692 2000
15.83044119 2001
17.40191897 2002
20.18394344 2003
18.86446102 2004
18.78204886 2005
17.75773692 2006
15.81462379 2007
13.96412005 2008
8.97077902 2009
7.98804207 2010
7.36146335 2011
5.95623958 2012
5.85283366 2013
7.88242876 2014
6.61317909 2015
6.81087216 2016
7.82010372 2017
6.70278022 2018
5.88188183 2019
4.66301427 2020
8.67850381 2021
2022

Myanmar | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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