Help us improve this section of the site. Can we get your feedback?
Click here
Toggle navigation
Home
About
Data
Research
Learning
News
Projects & Operations
Publications
Countries
Topics
English
Español
Français
عربي
Русский
中文
View all »
DataBank
This page is in
English
Español
Français
عربي
中文
Log in Now
WB Staff Login
Public Login
Tweets
Like
Share
+
Google+
Digg
人人网
新浪微博
Stumble Upon
DataBank Home
Databases
Create Report
Saved Reports
Saved Datasets
Metadata Glossary
What's New
MIX Market was updated on October 3, 2024
Education Policy was updated on October 3, 2024
Global Economic Monitor (GEM) was updated on October 2, 2024
World Development Indicators was updated on September 19, 2024
Metadata Glossary
Select Database
Indicator
Country
Classification
Download
Filtered Results: 10
Remove filter
Code
NY.GDP.MINR.RT.ZS
Indicator Name
Mineral rents (% of GDP)
Long definition
Mineral rents are the difference between the value of production for a stock of minerals at world prices and their total costs of production. Minerals included in the calculation are tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate.
Source
World Bank staff estimates based on sources and methods described in the World Bank's The Changing Wealth of Nations.
Topic
Environment: Natural resources contribution to GDP
Periodicity
Annual
Aggregation method
Weighted average
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 price of units of specific commodities and subtracting estimates of average unit costs of extraction or harvesting costs. 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).
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.
License URL
https://datacatalog.worldbank.org/public-licenses#cc-by
License Type
CC BY-4.0
Go to Data
^