Seychelles - Forest rents (% of GDP)

Forest rents (% of GDP) in Seychelles was 0.086 as of 2019. Its highest value over the past 49 years was 0.178 in 2008, while its lowest value was 0.000 in 1970.

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
1970 0.000
1971 0.000
1972 0.000
1973 0.000
1974 0.000
1975 0.000
1976 0.000
1977 0.000
1978 0.000
1979 0.000
1980 0.000
1981 0.000
1982 0.000
1983 0.000
1984 0.000
1985 0.000
1986 0.000
1987 0.000
1988 0.000
1989 0.000
1990 0.124
1991 0.112
1992 0.110
1993 0.102
1994 0.102
1995 0.119
1996 0.111
1997 0.089
1998 0.082
1999 0.074
2000 0.107
2001 0.101
2002 0.105
2003 0.118
2004 0.066
2005 0.091
2006 0.103
2007 0.109
2008 0.178
2009 0.161
2010 0.147
2011 0.150
2012 0.164
2013 0.129
2014 0.127
2015 0.103
2016 0.104
2017 0.127
2018 0.124
2019 0.086

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