United Kingdom | 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 Kingdom of Great Britain and Northern Ireland
Records
63
Source
United Kingdom | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.01270853
1971 0.01146667
1972 0.01168989
1973 0.01508288
1974 0.01584588
1975 0.01663601
1976 0.01896057
1977 0.01683445
1978 0.01555012
1979 0.01579271
1980 0.01334914
1981 0.01188487
1982 0.01132926
1983 0.01007821
1984 0.00888195
1985 0.0114913
1986 0.01206107
1987 0.01043157
1988 0.00968917
1989 0.01126675
1990 0.00993982
1991 0.00736105
1992 0.00711659
1993 0.00816459
1994 0.00855586
1995 0.00799782
1996 0.00755577
1997 0.00610604
1998 0.00584391
1999 0.00501076
2000 0.00493193
2001 0.0048912
2002 0.00534322
2003 0.00492975
2004 0.00369924
2005 0.00362381
2006 0.00377802
2007 0.00427037
2008 0.00470455
2009 0.00526047
2010 0.00624206
2011 0.00622091
2012 0.00550091
2013 0.00619803
2014 0.00609512
2015 0.00515012
2016 0.00572391
2017 0.00547055
2018 0.0070685
2019 0
2020 0
2021 0
2022

United Kingdom | 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 Kingdom of Great Britain and Northern Ireland
Records
63
Source