Brunei - Forest rents (% of GDP)

Forest rents (% of GDP) in Brunei was 0.050 as of 2019. Its highest value over the past 49 years was 0.492 in 1971, while its lowest value was 0.045 in 2004.

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 0.381
1971 0.492
1972 0.428
1973 0.422
1974 0.155
1975 0.255
1976 0.218
1977 0.202
1978 0.157
1979 0.183
1980 0.117
1981 0.129
1982 0.209
1983 0.220
1984 0.148
1985 0.152
1986 0.281
1987 0.297
1988 0.282
1989 0.280
1990 0.097
1991 0.099
1992 0.095
1993 0.109
1994 0.113
1995 0.105
1996 0.100
1997 0.076
1998 0.097
1999 0.086
2000 0.070
2001 0.082
2002 0.080
2003 0.089
2004 0.045
2005 0.055
2006 0.063
2007 0.079
2008 0.070
2009 0.079
2010 0.068
2011 0.048
2012 0.051
2013 0.053
2014 0.066
2015 0.054
2016 0.054
2017 0.057
2018 0.065
2019 0.050

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