Turkiye | Coal rents (% of GDP)

Coal rents are the difference between the value of both hard and soft coal production at world prices and their 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
Republic of Turkiye
Records
63
Source
Turkiye | Coal rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.06813144
1971 0.09103804
1972 0.07273894
1973 0.06579917
1974 0.10436108
1975 0.26030653
1976 0.27065573
1977 0.23481619
1978 0.19179721
1979 0.11647083
1980 0.20379892
1981 0.39255759
1982 0.49854332
1983 0.29574695
1984 0.21864735
1985 0.26103897
1986 0.1109362
1987 0.05128604
1988 0.05257885
1989 0.06083734
1990 0.09162174
1991 0.0783727
1992 0.04981764
1993 0.01399442
1994 0.01520684
1995 0.03000779
1996 0.02004345
1997 0.0105598
1998 0.01042373
1999 0.00286586
2000 0.01632994
2001 0.06698329
2002 0.02089001
2003 0.01582087
2004 0.09101179
2005 0.05181505
2006 0.06099695
2007 0.08849308
2008 0.26962104
2009 0.10621592
2010 0.15352825
2011 0.17477359
2012 0.0680875
2013 0.02719531
2014 0.02386196
2015 0.01621283
2016 0.02155331
2017 0.02980827
2018 0.04017089
2019 0.03224364
2020 0.02443079
2021 0.04736188
2022

Turkiye | Coal rents (% of GDP)

Coal rents are the difference between the value of both hard and soft coal production at world prices and their 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
Republic of Turkiye
Records
63
Source