Turkey - Coal rents (% of GDP)

Coal rents (% of GDP) in Turkey was 0.031 as of 2019. Its highest value over the past 49 years was 0.499 in 1982, while its lowest value was 0.003 in 1999.

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
1970 0.068
1971 0.091
1972 0.072
1973 0.066
1974 0.105
1975 0.261
1976 0.270
1977 0.235
1978 0.192
1979 0.116
1980 0.204
1981 0.393
1982 0.499
1983 0.296
1984 0.219
1985 0.261
1986 0.111
1987 0.051
1988 0.053
1989 0.061
1990 0.092
1991 0.078
1992 0.050
1993 0.014
1994 0.015
1995 0.030
1996 0.020
1997 0.010
1998 0.010
1999 0.003
2000 0.016
2001 0.065
2002 0.020
2003 0.015
2004 0.091
2005 0.052
2006 0.061
2007 0.088
2008 0.271
2009 0.108
2010 0.156
2011 0.180
2012 0.071
2013 0.029
2014 0.024
2015 0.016
2016 0.021
2017 0.029
2018 0.040
2019 0.031

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