Sub-Saharan Africa (IDA & IBRD countries) | Forest rents (% of GDP)
Forest rents are roundwood harvest times the product of regional prices and a regional rental rate. 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
Sub-Saharan Africa (IDA & IBRD countries)
Records
63
Source
Create chart Download showed records Download Full dataset
Sub-Saharan Africa (IDA & IBRD countries) | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1.98218141 1970
1.80203607 1971
1.81977845 1972
2.27736263 1973
1.96676469 1974
2.29559034 1975
2.02578477 1976
2.91136569 1977
2.8811605 1978
2.55501163 1979
2.36986212 1980
1.69896646 1981
2.43198571 1982
1.94823656 1983
2.24222017 1984
1.99143538 1985
2.92431375 1986
2.63313937 1987
2.74722262 1988
2.85589048 1989
3.08871443 1990
2.70417748 1991
3.32754522 1992
3.35174729 1993
4.00312662 1994
4.89596551 1995
4.54783573 1996
4.07835279 1997
4.28580149 1998
2.98496594 1999
2.903127 2000
2.93498045 2001
3.25388999 2002
3.93943597 2003
2.71137454 2004
2.48716478 2005
2.20472222 2006
2.64475759 2007
2.84283172 2008
2.91744143 2009
2.22207973 2010
2.30163339 2011
2.5609004 2012
2.5603629 2013
2.69094945 2014
3.11480568 2015
3.52113327 2016
3.2600688 2017
2.3375164 2018
2.1727811 2019
2.49858777 2020
2.37180684 2021
2022
Sub-Saharan Africa (IDA & IBRD countries) | Forest rents (% of GDP)
Forest rents are roundwood harvest times the product of regional prices and a regional rental rate. 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
Sub-Saharan Africa (IDA & IBRD countries)
Records
63
Source
Create chart Download showed records Download Full dataset