Morocco - Natural gas rents (% of GDP)

Natural gas rents (% of GDP) in Morocco was 0.001 as of 2019. Its highest value over the past 49 years was 0.009 in 1983, while its lowest value was 0.000 in 1971.

Definition: Natural gas rents are the difference between the value of natural gas 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:

Year Value
1970 0.000
1971 0.000
1972 0.000
1973 0.000
1974 0.000
1975 0.001
1976 0.001
1977 0.002
1978 0.003
1979 0.006
1980 0.008
1981 0.006
1982 0.001
1983 0.009
1984 0.006
1985 0.009
1986 0.006
1987 0.003
1988 0.002
1989 0.002
1990 0.002
1991 0.001
1992 0.001
1993 0.001
1994 0.001
1995 0.001
1996 0.001
1997 0.002
1998 0.001
1999 0.001
2000 0.003
2001 0.004
2002 0.003
2003 0.002
2004 0.002
2005 0.003
2006 0.004
2007 0.004
2008 0.004
2009 0.004
2010 0.003
2011 0.006
2012 0.007
2013 0.007
2014 0.006
2015 0.005
2016 0.002
2017 0.002
2018 0.002
2019 0.001

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