Heavily indebted poor countries (HIPC) - Coal rents (% of GDP)

Coal rents (% of GDP) in Heavily indebted poor countries (HIPC) was 0.079 as of 2019. Its highest value over the past 41 years was 0.100 in 2017, while its lowest value was 0.002 in 1999.

Definition: Coal rents are the difference between the value of both hard and soft coal production at world prices and their total costs of production.

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
1978 0.023
1979 0.017
1980 0.022
1981 0.028
1982 0.031
1983 0.018
1984 0.016
1985 0.018
1986 0.012
1987 0.007
1988 0.010
1989 0.011
1990 0.010
1991 0.008
1992 0.009
1993 0.006
1994 0.005
1995 0.006
1996 0.005
1997 0.003
1998 0.003
1999 0.002
2000 0.002
2001 0.004
2002 0.003
2003 0.003
2004 0.006
2005 0.004
2006 0.003
2007 0.004
2008 0.009
2009 0.005
2010 0.010
2011 0.032
2012 0.065
2013 0.049
2014 0.044
2015 0.037
2016 0.041
2017 0.100
2018 0.097
2019 0.079

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