Zambia | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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
Republic of Zambia
Records
63
Source
Zambia | Total natural resources rents (% of GDP)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 36.469193
1971 23.70335485
1972 20.61821176
1973 38.70520615
1974 31.75379319
1975 12.74378388
1976 16.2287807
1977 13.99261247
1978 10.16288772
1979 17.09406404
1980 16.85024849
1981 9.26859686
1982 6.59797348
1983 9.23433168
1984 6.64439041
1985 7.85805279
1986 7.553255
1987 10.3706388
1988 18.57632589
1989 21.1410775
1990 20.98182465
1991 5.81996679
1992 5.82419089
1993 5.08803802
1994 5.46968683
1995 7.23321498
1996 7.40724987
1997 5.78425325
1998 7.38004992
1999 5.20000711
2000 9.12122496
2001 6.91796765
2002 8.58178423
2003 12.6388158
2004 13.77563772
2005 14.10270213
2006 19.20150296
2007 21.78743116
2008 16.05253846
2009 16.79686434
2010 18.66472011
2011 17.4237335
2012 13.57534875
2013 12.02359473
2014 10.84225906
2015 11.16025339
2016 11.67721254
2017 13.22643997
2018 11.7483463
2019 7.9150654
2020 16.22223076
2021 35.264148
2022

Zambia | Total natural resources rents (% of GDP)

Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents. 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
Republic of Zambia
Records
63
Source