Cuba - Forest rents (% of GDP)

Forest rents (% of GDP) in Cuba was 0.077 as of 2018. Its highest value over the past 48 years was 0.342 in 1982, while its lowest value was 0.074 in 2001.

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 0.113
1971 0.100
1972 0.097
1973 0.132
1974 0.116
1975 0.144
1976 0.127
1977 0.153
1978 0.147
1979 0.218
1980 0.228
1981 0.207
1982 0.342
1983 0.155
1984 0.093
1985 0.077
1986 0.099
1987 0.103
1988 0.090
1989 0.103
1990 0.156
1991 0.203
1992 0.231
1993 0.214
1994 0.172
1995 0.211
1996 0.210
1997 0.229
1998 0.196
1999 0.077
2000 0.078
2001 0.074
2002 0.112
2003 0.104
2004 0.087
2005 0.084
2006 0.095
2007 0.088
2008 0.081
2009 0.086
2010 0.113
2011 0.096
2012 0.089
2013 0.097
2014 0.106
2015 0.091
2016 0.099
2017 0.093
2018 0.077

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