Oil rents in Africa Western and Central
Africa Western and Central: Oil rents was 5.4% in 2021. ◆ Volatile
Oil rents in Africa Western and Central, 1971–2021
Source: The Changing Wealth of Nations, World Bank (WB). Measured in % of GDP.
Analysis
Africa Western and Central recorded 5.4% for oil rents in 2021.
The figure is up 81.8% on the previous year and down 60.4% over ten years.
Over the whole period, oil rents in Africa Western and Central peaked at 27.4% in 1979 and was at its lowest, 0.3%, in 1971.
That places Africa Western and Central 6th out of 47 groups with data for 2021, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Oil rents in Africa Western and Central, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1971 | 0.3% | — |
| 1972 | 1.0% | +232.7% |
| 1973 | 1.7% | +59.3% |
| 1974 | 18.8% | +1028.9% |
| 1975 | 12.7% | -32.4% |
| 1976 | 11.9% | -6.3% |
| 1977 | 14.1% | +18.3% |
| 1978 | 10.8% | -23.1% |
| 1979 | 27.4% | +153.0% |
| 1980 | 16.5% | -40.0% |
| 1981 | 3.8% | -76.7% |
| 1982 | 1.6% | -58.7% |
| 1983 | 4.4% | +177.5% |
| 1984 | 6.9% | +58.2% |
| 1985 | 8.1% | +15.9% |
| 1986 | 2.8% | -64.6% |
| 1987 | 5.6% | +96.0% |
| 1988 | 4.7% | -15.4% |
| 1989 | 11.0% | +133.1% |
| 1990 | 12.8% | +16.2% |
| 1991 | 8.3% | -35.3% |
| 1992 | 9.3% | +12.6% |
| 1993 | 14.4% | +55.2% |
| 1994 | 12.7% | -12.3% |
| 1995 | 12.3% | -3.1% |
| 1996 | 13.0% | +6.0% |
| 1997 | 11.8% | -9.4% |
| 1998 | 5.8% | -51.1% |
| 1999 | 6.3% | +8.9% |
| 2000 | 15.0% | +138.6% |
| 2001 | 9.8% | -34.3% |
| 2002 | 7.9% | -19.5% |
| 2003 | 7.9% | -0.0% |
| 2004 | 10.0% | +26.3% |
| 2005 | 14.7% | +46.7% |
| 2006 | 13.5% | -8.2% |
| 2007 | 12.5% | -7.3% |
| 2008 | 14.0% | +12.1% |
| 2009 | 7.5% | -46.2% |
| 2010 | 10.7% | +42.3% |
| 2011 | 13.7% | +28.0% |
| 2012 | 12.1% | -12.0% |
| 2013 | 9.0% | -25.4% |
| 2014 | 6.6% | -26.2% |
| 2015 | 2.7% | -59.8% |
| 2016 | 2.4% | -8.6% |
| 2017 | 4.6% | +88.7% |
| 2018 | 6.6% | +42.3% |
| 2019 | 5.9% | -10.6% |
| 2020 | 3.0% | -49.1% |
| 2021 | 5.4% | +81.8% |
Biggest year-on-year movements
Years where Oil rents in Africa Western and Central changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1974 | +1028.9% | 1.7% | 18.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 11.0% | 0.3% | 27.4% | 9 |
| 1980s | 6.5% | 1.6% | 16.5% | 10 |
| 1990s | 10.7% | 5.8% | 14.4% | 10 |
| 2000s | 11.3% | 7.5% | 15.0% | 10 |
| 2010s | 7.4% | 2.4% | 13.7% | 10 |
| 2020s | 4.2% | 3.0% | 5.4% | 2 |
Countries ranked near Africa Western and Central
More energy & mining data for Africa Western and Central
- Fuel imports 27.6% (2023)
- Ores and metals imports 0.9% (2023)
- Ores and metals exports 3.9% (2023)
- Fuel exports 61.6% (2023)
- Electric power transmission and distribution losses 15.6% (2023)
- Mineral rents 1.5% (2021)
- Natural gas rents 0.9% (2021)
- Total natural resources rents 9.7% (2021)
- Alternative and nuclear energy 1.9% (2023)
- Electric power consumption 207.97 kWh per capita (2023)
Frequently asked questions
- What is oil rents in Africa Western and Central?
- Oil rents in Africa Western and Central was 5.4% in 2021, according to The Changing Wealth of Nations, World Bank (WB).
- What is the highest oil rents recorded in Africa Western and Central?
- The highest recorded value was 27.4% in 1979.
- What is the lowest oil rents recorded in Africa Western and Central?
- The lowest recorded value was 0.3% in 1971.
- How does Africa Western and Central rank for oil rents?
- Africa Western and Central ranks 6th out of 47 groups with data for 2021.
- Is oil rents rising or falling in Africa Western and Central?
- Over the last ten years it is down 60.4%. The long-run trend across the full record is volatile.
- Where does this Africa Western and Central data come from?
- The figures come from The Changing Wealth of Nations, World Bank (WB), published as part of Oil rents (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 51 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.