Russia - Forest rents (% of GDP)

Forest rents (% of GDP) in Russia was 0.268 as of 2017. Its highest value over the past 29 years was 0.979 in 1999, while its lowest value was 0.000 in 1988.

Definition: Forest rents are roundwood harvest times the product of average prices and a region-specific rental rate.

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
1988 0.000
1989 0.000
1990 0.000
1991 0.000
1992 0.938
1993 0.749
1994 0.432
1995 0.474
1996 0.474
1997 0.512
1998 0.561
1999 0.979
2000 0.892
2001 0.736
2002 0.582
2003 0.607
2004 0.493
2005 0.404
2006 0.367
2007 0.375
2008 0.263
2009 0.290
2010 0.279
2011 0.255
2012 0.231
2013 0.208
2014 0.235
2015 0.297
2016 0.359
2017 0.268

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