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
1975 6.874E-5
1976 5.122E-5
1977 7.671E-5
1978 0.0001231
1979 8.968E-5
1980 8.632E-5
1981 8.717E-5
1982 0.0002538
1983 0.00021145
1984 0.00023759
1985 9.621E-5
1986 0.00037853
1987 0.00037145
1988 0.00039878
1989 0.00035471
1990 0.00029064
1991 0.00029704
1992 0.00024854
1993 0.00017895
1994 0.00017798
1995 0.00024327
1996 0.00022502
1997 0.00021575
1998 0.00034558
1999 0.00013455
2000 0.00010785
2001 0.0001226
2002 0.00012952
2003 0.00016439
2004 0.00013562
2005 0.00011068
2006 0.00011083
2007 8.877E-5
2008 0.0001283
2009 0.00015657
2010 0.00016509
2011 0.00015755
2012 0.00016577
2013 0.00013284
2014 0.00020688
2015 0.00021105
2016 0.00016454
2017 0.00019262
2018 8.976E-5
2019 0.00012368
2020 0.00013548
2021 0.00010633
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