Macao SAR, China - Total natural resources rents (% of GDP)

Total natural resources rents (% of GDP) in Macao SAR, China was 0.000 as of 2019. Its highest value over the past 37 years was 0.004 in 1986, while its lowest value was 0.000 in 2019.

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:

Year Value
1982 0.002
1983 0.002
1984 0.003
1985 0.003
1986 0.004
1987 0.003
1988 0.003
1989 0.002
1990 0.002
1991 0.002
1992 0.002
1993 0.001
1994 0.002
1995 0.003
1996 0.003
1997 0.002
1998 0.002
1999 0.001
2000 0.001
2001 0.001
2002 0.001
2003 0.002
2004 0.001
2005 0.001
2006 0.001
2007 0.001
2008 0.001
2009 0.001
2010 0.001
2011 0.001
2012 0.001
2013 0.001
2014 0.001
2015 0.001
2016 0.001
2017 0.001
2018 0.000
2019 0.000

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