Turkiye | 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
Republic of Turkiye
Records
63
Source
Turkiye | Natural gas rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0
1971 1.188E-5
1972 4.431E-5
1973 4.589E-5
1974 0.00014134
1975 0.00025434
1976 0.00066624
1977 0.00071835
1978 0.00084295
1979 0.00143303
1980 0.00203665
1981 0.00107372
1982 0.0008228
1983 0.00249881
1984 0.00135503
1985 0.00187905
1986 0.01136249
1987 0.00335717
1988 0.00095409
1989 0.0015091
1990 0.00206224
1991 0.00140896
1992 0.0006937
1993 0.00137627
1994 0.00183034
1995 0.00238639
1996 0.00243005
1997 0.00308698
1998 0.00049882
1999 0.00082897
2000 0.00457175
2001 0.00622399
2002 0.00498223
2003 0.00615262
2004 0.00523896
2005 0.00453463
2006 0.00955265
2007 0.00898256
2008 0.01438655
2009 0.0086005
2010 0.00645925
2011 0.01004311
2012 0.00842872
2013 0.00639026
2014 0.00416165
2015 0.00265767
2016 0.00150977
2017 0.00201762
2018 0.00428489
2019 0.00336847
2020 0.00167305
2021 0.00748181
2022

Turkiye | 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
Republic of Turkiye
Records
63
Source