Uruguay | 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
Eastern Republic of Uruguay
Records
63
Source
Uruguay | Forest rents (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 0.32238608
1971 0.22274364
1972 0.33620901
1973 0.32292727
1974 0.34744503
1975 0.58750492
1976 0.49045089
1977 0.68979867
1978 0.61788087
1979 0.5625258
1980 0.37014332
1981 0.33855973
1982 0.75211699
1983 0.56129821
1984 0.41010914
1985 0.31203616
1986 0.38393106
1987 0.40193408
1988 0.358229
1989 0.39109268
1990 0.6064447
1991 0.5477457
1992 0.52482014
1993 0.44230352
1994 0.37558494
1995 0.44852566
1996 0.38144965
1997 0.37023631
1998 0.31945144
1999 0.28690042
2000 0.17481663
2001 0.20895166
2002 0.43047928
2003 0.58705465
2004 0.69721097
2005 0.67675517
2006 0.95355648
2007 1.14613085
2008 1.46339601
2009 1.22944261
2010 1.91015062
2011 1.3007773
2012 1.04892337
2013 1.19298619
2014 1.37666437
2015 1.81375927
2016 1.70738696
2017 1.80298894
2018 1.95635852
2019 1.69897788
2020 2.28946588
2021 1.905827
2022

Uruguay | 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
Eastern Republic of Uruguay
Records
63
Source