Austria - Forest rents (% of GDP)

Forest rents (% of GDP) in Austria was 0.065 as of 2019. Its highest value over the past 49 years was 0.337 in 1970, while its lowest value was 0.057 in 2005.

Definition: Forest rents are roundwood harvest times the product of average prices and a region-specific rental rate.

Source: Estimates based on sources and methods described in "The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium" (World Bank, 2011).

See also:

Year Value
1970 0.337
1971 0.298
1972 0.286
1973 0.319
1974 0.301
1975 0.291
1976 0.324
1977 0.243
1978 0.256
1979 0.275
1980 0.273
1981 0.271
1982 0.245
1983 0.214
1984 0.202
1985 0.212
1986 0.169
1987 0.138
1988 0.146
1989 0.176
1990 0.161
1991 0.108
1992 0.080
1993 0.078
1994 0.086
1995 0.079
1996 0.093
1997 0.085
1998 0.072
1999 0.063
2000 0.065
2001 0.066
2002 0.080
2003 0.080
2004 0.058
2005 0.057
2006 0.071
2007 0.084
2008 0.088
2009 0.068
2010 0.077
2011 0.075
2012 0.068
2013 0.068
2014 0.070
2015 0.070
2016 0.069
2017 0.060
2018 0.077
2019 0.065

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.

Limitations and Exceptions: This definition of economic rent differs from that used in the System of National Accounts, where rents are a form of property income, consisting of payments to landowners by a tenant for the use of the land or payments to the owners of subsoil assets by institutional units permitting them to extract subsoil deposits.

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 world price of units of specific commodities and subtracting estimates of average unit costs of extraction or harvesting costs (including a normal return on capital). 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).

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Environment Indicators

Sub-Topic: Natural resources contribution to GDP