Upper middle income | 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
Upper middle income
Records
63
Source
Upper middle income | Coal rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 0.1409843
1972 0.13314789
1973 0.13848185
1974 0.42488571
1975 1.27347769
1976 1.32803861
1977 1.38222913
1978 1.4565363
1979 1.24917664
1980 1.74651764
1981 2.72208961
1982 3.17192149
1983 1.61831383
1984 1.14524382
1985 1.26556667
1986 0.76261698
1987 0.2460071
1988 0.49869727
1989 0.55473896
1990 0.52425039
1991 0.46490422
1992 0.3182985
1993 0.14012338
1994 0.10933547
1995 0.23042618
1996 0.13892116
1997 0.10616019
1998 0.11248969
1999 0.06891433
2000 0.11123672
2001 0.39389823
2002 0.17707213
2003 0.16325226
2004 1.1406111
2005 0.82820478
2006 0.8294877
2007 0.97450837
2008 2.39749783
2009 0.93328025
2010 1.43589846
2011 1.85932446
2012 1.00074553
2013 0.63885191
2014 0.49934794
2015 0.3042014
2016 0.32719193
2017 0.42006816
2018 0.47705505
2019 0.36894504
2020 0.30767245
2021 0.52880561
2022

Upper middle income | 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
Upper middle income
Records
63
Source