Total natural resources rents (% of GDP) - Country Ranking - Europe

Definition: Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents.

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 Norway 6.98 2019
2 Ukraine 1.82 2019
3 Belarus 1.77 2019
4 Albania 1.59 2019
5 Serbia 1.21 2019
6 Estonia 1.14 2019
7 Bosnia and Herzegovina 0.99 2019
8 Latvia 0.98 2019
9 Montenegro 0.95 2019
10 Romania 0.85 2019
11 North Macedonia 0.70 2019
12 Poland 0.69 2019
13 Croatia 0.69 2019
14 United Kingdom 0.59 2019
15 Denmark 0.48 2019
16 Czech Republic 0.42 2019
17 Finland 0.40 2019
18 Bulgaria 0.40 2019
19 Sweden 0.39 2019
20 Lithuania 0.37 2019
21 Hungary 0.32 2019
22 Turkey 0.31 2019
23 Slovak Republic 0.25 2019
24 Netherlands 0.25 2019
25 Slovenia 0.23 2019
26 Moldova 0.23 2019
27 Portugal 0.15 2019
28 Austria 0.13 2019
29 Greece 0.11 2019
30 Germany 0.10 2019
31 Italy 0.09 2019
32 Spain 0.05 2019
33 France 0.04 2019
34 Ireland 0.02 2019
35 Belgium 0.02 2019
36 Luxembourg 0.01 2019
37 Switzerland 0.01 2019
38 Liechtenstein 0.00 2018
39 Cyprus 0.00 2019
40 Iceland 0.00 2019
41 Malta 0.00 2019
41 Monaco 0.00 2018
41 Andorra 0.00 2019
41 San Marino 0.00 2018

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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