Thailand | 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
Kingdom of Thailand
Records
63
Source
Thailand | Total natural resources rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 1.11813278
1971 1.03267592
1972 1.49120592
1973 2.30164957
1974 2.27658465
1975 1.77292449
1976 1.68996207
1977 2.23420163
1978 1.81097206
1979 2.45153532
1980 2.27082745
1981 1.30370985
1982 1.283522
1983 1.23098552
1984 1.16489161
1985 1.46043796
1986 1.2169623
1987 1.1932289
1988 1.40066438
1989 1.37641658
1990 1.20375711
1991 0.8097329
1992 0.84272555
1993 0.72807227
1994 0.73782073
1995 0.79469861
1996 0.8846541
1997 1.11948972
1998 1.13200555
1999 1.10201089
2000 2.03569798
2001 1.94127428
2002 1.74432562
2003 2.2916114
2004 2.39381751
2005 2.84717141
2006 2.88566054
2007 2.75732969
2008 3.62309704
2009 2.40093157
2010 2.73568032
2011 3.14709998
2012 2.90571167
2013 2.61852748
2014 2.82282717
2015 1.93092321
2016 1.55321888
2017 1.63215261
2018 1.81670643
2019 1.51242491
2020 1.1095684
2021 1.81702653
2022

Thailand | 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
Kingdom of Thailand
Records
63
Source