Oil rents (% of GDP) - Country Ranking

Definition: Oil rents are the difference between the value of crude oil production at world prices and 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: Thematic map, Time series comparison

Find indicator:
Rank Country Value Year
1 Iraq 37.78 2017
2 Libya 37.29 2017
3 Congo 36.73 2017
4 Kuwait 36.61 2017
5 Saudi Arabia 23.10 2017
6 Oman 21.80 2017
7 Syrian Arab Republic 20.71 2007
8 Equatorial Guinea 19.23 2017
9 Azerbaijan 17.87 2017
10 Angola 15.75 2017
11 Iran 15.34 2017
12 Gabon 15.34 2017
13 Chad 15.25 2017
14 Timor-Leste 14.53 2017
15 Qatar 14.23 2017
16 United Arab Emirates 13.13 2017
17 Algeria 12.31 2017
18 Venezuela 11.29 2014
19 Kazakhstan 10.19 2017
20 Brunei 8.84 2017
21 Russia 6.43 2017
22 Nigeria 6.12 2017
23 Suriname 5.24 2017
24 Turkmenistan 5.02 2017
25 Ecuador 4.96 2017
26 Egypt 4.08 2017
27 Norway 3.75 2017
28 Trinidad and Tobago 3.17 2017
29 Ghana 2.96 2017
30 Colombia 2.67 2017
31 Papua New Guinea 2.59 2017
32 Cameroon 2.55 2017
33 Malaysia 2.36 2017
34 Bahrain 2.01 2017
35 Yemen 1.89 2017
36 Niger 1.88 2017
37 Mongolia 1.86 2017
38 Mexico 1.72 2017
39 Tunisia 1.55 2017
40 Albania 1.37 2017
41 Bolivia 1.32 2017
42 Vietnam 1.27 2017
43 Brazil 1.25 2017
44 Sudan 1.01 2017
45 Côte d'Ivoire 1.01 2017
46 Canada 0.89 2017
47 Uzbekistan 0.86 2017
48 Indonesia 0.83 2017
49 Mauritania 0.81 2017
50 Argentina 0.74 2017
51 Dem. Rep. Congo 0.59 2017
52 Belize 0.57 2017
53 Thailand 0.56 2017
54 Belarus 0.52 2017
55 Denmark 0.38 2017
56 China 0.34 2017
57 United Kingdom 0.32 2017
58 India 0.32 2017
59 Romania 0.32 2017
60 Pakistan 0.30 2017
61 Estonia 0.27 2017
62 Cuba 0.27 2017
63 Ukraine 0.24 2017
64 Croatia 0.23 2017
65 Australia 0.21 2017
66 Peru 0.20 2017
67 United States 0.18 2017
68 Myanmar 0.18 2017
69 New Zealand 0.16 2017
70 Georgia 0.15 2017
71 Benin 0.13 2017
72 Guatemala 0.12 2017
73 Madagascar 0.12 2017
74 Kyrgyz Republic 0.10 2017
75 Mozambique 0.10 2017
76 Serbia 0.10 2017
77 Hungary 0.10 2017
78 Tajikistan 0.06 2017
79 Turkey 0.06 2017
80 Barbados 0.06 2017
81 Philippines 0.05 2017
82 Italy 0.04 2017
83 Poland 0.04 2017
84 Austria 0.03 2017
85 Slovak Republic 0.03 2017
86 Lithuania 0.03 2017
87 Netherlands 0.02 2017
88 Bangladesh 0.02 2017
89 Moldova 0.01 2017
90 Greece 0.01 2017
91 Chile 0.01 2017
92 Germany 0.01 2017
93 Czech Republic 0.01 2017
94 Bulgaria 0.01 2017
95 Morocco 0.01 2017
96 South Africa 0.01 2017
97 France 0.01 2017
98 Korea 0.00 2017
99 Japan 0.00 2017
100 Israel 0.00 2017
101 Spain 0.00 2017
102 Afghanistan 0.00 2017
103 Jordan 0.00 2017
104 Slovenia 0.00 2017
105 Uruguay 0.00 2017
105 Mali 0.00 2017
105 Antigua and Barbuda 0.00 2017
105 Burkina Faso 0.00 2017
105 Bhutan 0.00 2017
105 Cabo Verde 0.00 2017
105 Dominica 0.00 2017
105 Dominican Republic 0.00 2017
105 Sweden 0.00 2017
105 Ireland 0.00 2017
105 Iceland 0.00 2017
105 St. Kitts and Nevis 0.00 2017
105 Latvia 0.00 2017
105 Montenegro 0.00 2017
105 Zimbabwe 0.00 2017
105 Eritrea 0.00 2011
105 Guyana 0.00 2017
105 Haiti 0.00 2017
105 Solomon Islands 0.00 2017
105 Somalia 0.00 2017
105 Togo 0.00 2017
105 Bosnia and Herzegovina 0.00 2017
105 Switzerland 0.00 2017
105 Namibia 0.00 2017
105 Nauru 0.00 2017
105 Lebanon 0.00 2017
105 Puerto Rico 0.00 2016
105 Liberia 0.00 2017
105 Lesotho 0.00 2017
105 Central African Republic 0.00 2017
105 Djibouti 0.00 2017
105 The Bahamas 0.00 2017
105 Uganda 0.00 2017
105 Malta 0.00 2017
105 Nepal 0.00 2017
105 Ethiopia 0.00 2017
105 Burundi 0.00 2017
105 Fiji 0.00 2017
105 Lao PDR 0.00 2017
105 Samoa 0.00 2017
105 Zambia 0.00 2017
105 Comoros 0.00 2017
105 The Gambia 0.00 2017
105 Sri Lanka 0.00 2017
105 Botswana 0.00 2017
105 Rwanda 0.00 2017
105 Singapore 0.00 2017
105 Eswatini 0.00 2017
105 Tanzania 0.00 2017
105 New Caledonia 0.00 2000
105 Paraguay 0.00 2017
105 Cayman Islands 0.00 2006
105 Honduras 0.00 2017
105 Senegal 0.00 2017
105 El Salvador 0.00 2017
105 Cambodia 0.00 2017
105 Luxembourg 0.00 2017
105 Tonga 0.00 2017
105 Armenia 0.00 2017
105 North Macedonia 0.00 2017
105 Panama 0.00 2017
105 Nicaragua 0.00 2017
105 St. Lucia 0.00 2017
105 Vanuatu 0.00 2017
105 Hong Kong SAR, China 0.00 2017
105 Kenya 0.00 2017
105 Guinea 0.00 2017
105 Greenland 0.00 2016
105 Kiribati 0.00 2017
105 Belgium 0.00 2017
105 Portugal 0.00 2017
105 Sierra Leone 0.00 2017
105 St. Vincent and the Grenadines 0.00 2017
105 Costa Rica 0.00 2017
105 Macao SAR, China 0.00 2017
105 Cyprus 0.00 2017
105 Finland 0.00 2017
105 São Tomé and Principe 0.00 2017
105 Seychelles 0.00 2017
105 Guinea-Bissau 0.00 2017
105 Grenada 0.00 2017
105 Jamaica 0.00 2017
105 Mauritius 0.00 2017
105 Malawi 0.00 2017

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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