Tunisia | Oil rents (% of GDP)

Oil rents are the difference between the value of crude oil 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
Tunisian Republic
Records
63
Source
Tunisia | Oil rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 2.03817424
1971 2.2903657
1972 2.12590015
1973 2.55387238
1974 8.89423485
1975 8.0351385
1976 6.76413315
1977 7.48354616
1978 7.52116487
1979 16.28000732
1980 15.66047347
1981 13.86482072
1982 11.17489396
1983 11.63575093
1984 11.42596023
1985 10.80455814
1986 4.84950101
1987 5.88932534
1988 4.64335475
1989 6.56322289
1990 6.45080503
1991 4.20887816
1992 3.89144902
1993 3.35121837
1994 2.66718329
1995 2.42755448
1996 2.73801506
1997 2.13042895
1998 1.30206837
1999 1.92733313
2000 3.22928353
2001 2.34162232
2002 2.36269751
2003 2.1172573
2004 2.60869067
2005 3.79249224
2006 4.10775757
2007 5.51629478
2008 5.93514844
2009 3.44832785
2010 4.12711827
2011 5.01344964
2012 5.06594683
2013 4.28421078
2014 3.35507825
2015 1.625963
2016 1.26674487
2017 1.48811485
2018 1.99021549
2019 1.66141181
2020 0.91667753
2021 1.5489621
2022

Tunisia | Oil rents (% of GDP)

Oil rents are the difference between the value of crude oil 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
Tunisian Republic
Records
63
Source