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)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
36.469193 1970
23.70335485 1971
20.61821176 1972
38.70520615 1973
31.75379319 1974
12.74378388 1975
16.2287807 1976
13.99261247 1977
10.16288772 1978
17.09406404 1979
16.85024849 1980
9.26859686 1981
6.59797348 1982
9.23433168 1983
6.64439041 1984
7.85805279 1985
7.553255 1986
10.3706388 1987
18.57632589 1988
21.1410775 1989
20.98182465 1990
5.81996679 1991
5.82419089 1992
5.08803802 1993
5.46968683 1994
7.23321498 1995
7.40724987 1996
5.78425325 1997
7.38004992 1998
5.20000711 1999
9.12122496 2000
6.91796765 2001
8.58178423 2002
12.6388158 2003
13.77563772 2004
14.10270213 2005
19.20150296 2006
21.78743116 2007
16.05253846 2008
16.79686434 2009
18.66472011 2010
17.4237335 2011
13.57534875 2012
12.02359473 2013
10.84225906 2014
11.16025339 2015
11.67721254 2016
13.22643997 2017
11.7483463 2018
7.9150654 2019
16.22223076 2020
35.264148 2021
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