United Arab Emirates | 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
United Arab Emirates
Records
63
Source
United Arab Emirates | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
6.874E-5 1975
5.122E-5 1976
7.671E-5 1977
0.0001231 1978
8.968E-5 1979
8.632E-5 1980
8.717E-5 1981
0.0002538 1982
0.00021145 1983
0.00023759 1984
9.621E-5 1985
0.00037853 1986
0.00037145 1987
0.00039878 1988
0.00035471 1989
0.00029064 1990
0.00029704 1991
0.00024854 1992
0.00017895 1993
0.00017798 1994
0.00024327 1995
0.00022502 1996
0.00021575 1997
0.00034558 1998
0.00013455 1999
0.00010785 2000
0.0001226 2001
0.00012952 2002
0.00016439 2003
0.00013562 2004
0.00011068 2005
0.00011083 2006
8.877E-5 2007
0.0001283 2008
0.00015657 2009
0.00016509 2010
0.00015755 2011
0.00016577 2012
0.00013284 2013
0.00020688 2014
0.00021105 2015
0.00016454 2016
0.00019262 2017
8.976E-5 2018
0.00012368 2019
0.00013548 2020
0.00010633 2021
2022
United Arab Emirates | 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
United Arab Emirates
Records
63
Source