Upper middle income | 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
Upper middle income
Records
63
Source
Upper middle income | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.98294504
1971 0.9422002
1972 1.16856077
1973 1.87158558
1974 1.44352644
1975 1.41269738
1976 1.50881745
1977 1.689945
1978 1.58686843
1979 1.87099953
1980 1.76708374
1981 1.16102687
1982 1.58298888
1983 1.25621506
1984 0.83119122
1985 0.80162444
1986 1.05300182
1987 1.21169234
1988 0.77311718
1989 0.81819995
1990 0.70057452
1991 0.74761294
1992 0.95319537
1993 0.81479732
1994 0.69941976
1995 0.75088596
1996 0.65852664
1997 0.5501858
1998 0.47473959
1999 0.43408605
2000 0.38453105
2001 0.37394047
2002 0.39649617
2003 0.46330286
2004 0.32747859
2005 0.30013637
2006 0.31755109
2007 0.34429037
2008 0.34341615
2009 0.31361213
2010 0.31419703
2011 0.26942517
2012 0.25667062
2013 0.24969028
2014 0.27492981
2015 0.23680536
2016 0.25444727
2017 0.27108819
2018 0.24642982
2019 0.21610581
2020 0.23833338
2021 0.19025575
2022

Upper middle income | 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
Upper middle income
Records
63
Source