Sweden - Adjusted savings: natural resources depletion (% of GNI)

Adjusted savings: natural resources depletion (% of GNI) in Sweden was 0.107 as of 2019. Its highest value over the past 49 years was 0.199 in 2011, while its lowest value was 0.007 in 2003.

Definition: Natural resource depletion is the sum of net forest depletion, energy depletion, and mineral depletion. Net forest depletion is unit resource rents times the excess of roundwood harvest over natural growth. Energy depletion is the ratio of the value of the stock of energy resources to the remaining reserve lifetime. It covers coal, crude oil, and natural gas. Mineral depletion is the ratio of the value of the stock of mineral resources to the remaining reserve lifetime). It covers tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate.

Source: World Bank staff estimates based on sources and methods described in "The Changing Wealth of Nations 2018: Building a Sustainable Future" (Lange et al 2018).

See also:

Year Value
1970 0.060
1971 0.042
1972 0.037
1973 0.136
1974 0.173
1975 0.031
1976 0.050
1977 0.048
1978 0.032
1979 0.068
1980 0.056
1981 0.033
1982 0.029
1983 0.034
1984 0.025
1985 0.026
1986 0.012
1987 0.022
1988 0.153
1989 0.158
1990 0.060
1991 0.022
1992 0.019
1993 0.027
1994 0.042
1995 0.047
1996 0.011
1997 0.043
1998 0.022
1999 0.018
2000 0.028
2001 0.020
2002 0.007
2003 0.007
2004 0.031
2005 0.095
2006 0.147
2007 0.166
2008 0.118
2009 0.064
2010 0.174
2011 0.199
2012 0.119
2013 0.074
2014 0.055
2015 0.061
2016 0.071
2017 0.123
2018 0.119
2019 0.107

Development Relevance: Natural resources depletion is a critical component in the calculation of adjusted net national income. Adjusted net national income is calculated by subtracting from GNI a charge for the consumption of fixed capital (a calculation that yields net national income) and for the depletion of natural resources. The deduction for the depletion of natural resources, which covers net forest depletion, energy depletion, and mineral depletion, reflects the decline in asset values associated with the extraction and harvest of natural resources - this is analogous to depreciation of fixed assets.

Limitations and Exceptions: Net forest depletion is not the monetary value of deforestation. Roundwood and fuelwood production are different from deforestation, which represents a permanent change in land use and, thus, is not comparable. Areas logged out but intended for regeneration are not included in deforestation figures; rather, they are counted as producing timber depletion. Net forest depletion includes only timber values and does not include the loss of nontimber forest benefits and nonuse benefits. For both energy and mineral depletion, unit resource rent is calculated as (unit price - average cost). Marginal cost should be used instead of average cost in order to calculate the true opportunity cost of extraction; however, marginal cost is difficult to compute and data are not readily available. Unit prices refer to international or regional price rather than local prices. This differs from methodologies of national accounts, which may use local prices to measure energy or mineral GDP. This difference explains eventual discrepancies in the values for energy or mineral depletion, verses energy or mineral GDP.

Statistical Concept and Methodology: Natural resources depletion is the sum of net forest depletion, energy depletion, and mineral depletion: Net forest depletion is the product of unit resource rents and the excess of roundwood harvest over natural growth. In a country where incremental growth exceeds wood extraction, net forest depletion would be zero, no matter the absolute volume or value of wood extracted. Energy depletion is the ratio of the present value of energy resource rents, discounted at 4 percent, to the exhaustion time of the resource. Rent is calculated as the product of unit resource rents and the physical quantities of energy resources extracted. It covers hard and soft coal, crude oil, and natural gas. Mineral depletion is the ratio of the present value of mineral resource rents, discounted at 4 percent, to the exhaustion time of the resource. Rent is calculated as the product of unit resource rents and the physical quantities of mineral extracted. It covers tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts