South Asia (IDA & IBRD) | 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
South Asia (IDA & IBRD)
Records
63
Source
South Asia (IDA & IBRD) | Natural gas rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.05827485
1971 0.05341068
1972 0.04495623
1973 0.04707879
1974 0.05176308
1975 0.07306408
1976 0.09165356
1977 0.09623969
1978 0.0614341
1979 0.04675727
1980 0.06545257
1981 0.01016929
1982 0
1983 0.03342282
1984 0.0128811
1985 0.01335525
1986 0.05823624
1987 0.05875575
1988 0.04680553
1989 0.09546937
1990 0.11619735
1991 0.10342471
1992 0.1105435
1993 0.12392643
1994 0.13870249
1995 0.15548306
1996 0.16577759
1997 0.1506849
1998 0.17417076
1999 0.21786791
2000 0.34848577
2001 0.33271379
2002 0.4346615
2003 0.42376791
2004 0.43694637
2005 0.47949122
2006 0.43832633
2007 0.22816094
2008 0.22530817
2009 0.27465741
2010 0.27787916
2011 0.31125627
2012 0.3041865
2013 0.20968452
2014 0.19811379
2015 0.16814829
2016 0.1447309
2017 0.14830234
2018 0.15588052
2019 0.16598022
2020 0.16220553
2021 0.1734682
2022
South Asia (IDA & IBRD) | 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
South Asia (IDA & IBRD)
Records
63
Source