Thailand - Coal rents (% of GDP)

Coal rents (% of GDP) in Thailand was 0.019 as of 2019. Its highest value over the past 48 years was 0.247 in 2008, while its lowest value was 0.001 in 1972.

Definition: Coal rents are the difference between the value of both hard and soft coal production at world prices and their 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
1971 0.001
1972 0.001
1973 0.001
1974 0.006
1975 0.018
1976 0.018
1977 0.015
1978 0.012
1979 0.021
1980 0.033
1981 0.062
1982 0.082
1983 0.037
1984 0.028
1985 0.085
1986 0.044
1987 0.011
1988 0.026
1989 0.043
1990 0.055
1991 0.051
1992 0.034
1993 0.010
1994 0.011
1995 0.037
1996 0.025
1997 0.018
1998 0.038
1999 0.015
2000 0.039
2001 0.100
2002 0.046
2003 0.035
2004 0.163
2005 0.106
2006 0.086
2007 0.111
2008 0.247
2009 0.092
2010 0.132
2011 0.183
2012 0.082
2013 0.053
2014 0.040
2015 0.021
2016 0.026
2017 0.030
2018 0.028
2019 0.019

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