Spain - Forest rents (% of GDP)

Forest rents (% of GDP) in Spain was 0.024 as of 2019. Its highest value over the past 49 years was 0.118 in 1970, while its lowest value was 0.018 in 2005.

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 0.118
1971 0.100
1972 0.101
1973 0.109
1974 0.109
1975 0.105
1976 0.109
1977 0.100
1978 0.098
1979 0.086
1980 0.101
1981 0.094
1982 0.102
1983 0.108
1984 0.089
1985 0.087
1986 0.080
1987 0.068
1988 0.061
1989 0.073
1990 0.048
1991 0.035
1992 0.031
1993 0.040
1994 0.043
1995 0.043
1996 0.042
1997 0.037
1998 0.035
1999 0.032
2000 0.034
2001 0.032
2002 0.033
2003 0.028
2004 0.020
2005 0.018
2006 0.021
2007 0.021
2008 0.026
2009 0.023
2010 0.026
2011 0.025
2012 0.025
2013 0.026
2014 0.029
2015 0.029
2016 0.027
2017 0.023
2018 0.029
2019 0.024

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