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
0.05827485 1970
0.05341068 1971
0.04495623 1972
0.04707879 1973
0.05176308 1974
0.07306408 1975
0.09165356 1976
0.09623969 1977
0.0614341 1978
0.04675727 1979
0.06545257 1980
0.01016929 1981
0 1982
0.03342282 1983
0.0128811 1984
0.01335525 1985
0.05823624 1986
0.05875575 1987
0.04680553 1988
0.09546937 1989
0.11619735 1990
0.10342471 1991
0.1105435 1992
0.12392643 1993
0.13870249 1994
0.15548306 1995
0.16577759 1996
0.1506849 1997
0.17417076 1998
0.21786791 1999
0.34848577 2000
0.33271379 2001
0.4346615 2002
0.42376791 2003
0.43694637 2004
0.47949122 2005
0.43832633 2006
0.22816094 2007
0.22530817 2008
0.27465741 2009
0.27787916 2010
0.31125627 2011
0.3041865 2012
0.20968452 2013
0.19811379 2014
0.16814829 2015
0.1447309 2016
0.14830234 2017
0.15588052 2018
0.16598022 2019
0.16220553 2020
0.1734682 2021
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