Turkmenistan - Total natural resources rents (% of GDP)

Total natural resources rents (% of GDP) in Turkmenistan was 24.07 as of 2018. Its highest value over the past 31 years was 87.46 in 2001, while its lowest value was 6.63 in 1998.

Definition: Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents.

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
1987 68.82
1988 49.21
1989 58.32
1990 77.76
1991 54.99
1992 30.22
1993 35.83
1994 23.99
1995 23.82
1996 35.23
1997 22.88
1998 6.63
1999 19.20
2000 70.05
2001 87.46
2002 60.84
2003 55.42
2004 50.03
2005 54.35
2006 68.00
2007 63.88
2008 63.11
2009 29.69
2010 30.42
2011 43.79
2012 38.67
2013 33.12
2014 24.96
2015 18.00
2016 11.77
2017 16.55
2018 24.07

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