Turkey - Natural gas rents (% of GDP)

Natural gas rents (% of GDP) in Turkey was 0.003 as of 2019. Its highest value over the past 49 years was 0.016 in 2008, while its lowest value was 0.000 in 1970.

Definition: Natural gas rents are the difference between the value of natural gas production at world prices and 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
1970 0.000
1971 0.000
1972 0.000
1973 0.000
1974 0.001
1975 0.001
1976 0.001
1977 0.002
1978 0.003
1979 0.004
1980 0.005
1981 0.003
1982 0.000
1983 0.003
1984 0.002
1985 0.002
1986 0.014
1987 0.004
1988 0.001
1989 0.002
1990 0.003
1991 0.002
1992 0.002
1993 0.002
1994 0.002
1995 0.001
1996 0.002
1997 0.002
1998 0.001
1999 0.001
2000 0.005
2001 0.008
2002 0.006
2003 0.007
2004 0.006
2005 0.007
2006 0.012
2007 0.010
2008 0.016
2009 0.011
2010 0.007
2011 0.011
2012 0.009
2013 0.007
2014 0.005
2015 0.003
2016 0.002
2017 0.002
2018 0.004
2019 0.003

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