Oil rents in Caribbean Small States
Caribbean Small States: Oil rents was 4.3% in 2021. ◆ Volatile
Oil rents in Caribbean Small States, 1980–2021
Source: The Changing Wealth of Nations, World Bank (WB). Measured in % of GDP.
Analysis
Caribbean Small States recorded 4.3% for oil rents in 2021.
That represents a change of up 188.1% on the previous year and down 17.0% over ten years.
Over the whole period, oil rents in Caribbean Small States peaked at 17.8% in 1980 and was at its lowest, 0.9%, in 2016.
That places Caribbean Small States 8th 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 Caribbean Small States, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1980 | 17.8% | — |
| 1981 | 15.2% | -14.2% |
| 1982 | 6.2% | -59.5% |
| 1983 | 7.6% | +22.6% |
| 1984 | 7.8% | +3.3% |
| 1985 | 7.8% | -0.8% |
| 1986 | 3.7% | -51.9% |
| 1987 | 5.4% | +44.5% |
| 1988 | 3.9% | -27.4% |
| 1989 | 5.9% | +49.9% |
| 1990 | 7.4% | +26.2% |
| 1991 | 4.0% | -45.4% |
| 1992 | 3.9% | -3.7% |
| 1993 | 3.8% | -3.1% |
| 1994 | 3.5% | -8.3% |
| 1995 | 3.9% | +13.4% |
| 1996 | 4.5% | +15.1% |
| 1997 | 3.3% | -26.4% |
| 1998 | 1.6% | -50.7% |
| 1999 | 2.8% | +67.8% |
| 2000 | 3.8% | +38.5% |
| 2001 | 2.6% | -32.4% |
| 2002 | 3.2% | +24.6% |
| 2003 | 3.2% | +0.3% |
| 2004 | 3.7% | +13.4% |
| 2005 | 5.4% | +47.3% |
| 2006 | 5.7% | +5.2% |
| 2007 | 4.6% | -17.8% |
| 2008 | 5.4% | +16.1% |
| 2009 | 3.1% | -42.6% |
| 2010 | 3.7% | +19.6% |
| 2011 | 5.2% | +40.2% |
| 2012 | 4.3% | -18.0% |
| 2013 | 3.7% | -14.0% |
| 2014 | 3.2% | -13.3% |
| 2015 | 1.2% | -62.3% |
| 2016 | 0.9% | -22.4% |
| 2017 | 1.3% | +43.4% |
| 2018 | 1.8% | +38.1% |
| 2019 | 1.4% | -24.7% |
| 2020 | 1.5% | +7.8% |
| 2021 | 4.3% | +188.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 8.1% | 3.7% | 17.8% | 10 |
| 1990s | 3.9% | 1.6% | 7.4% | 10 |
| 2000s | 4.1% | 2.6% | 5.7% | 10 |
| 2010s | 2.7% | 0.9% | 5.2% | 10 |
| 2020s | 2.9% | 1.5% | 4.3% | 2 |
Countries ranked near Caribbean Small States
- 5 Kuwait 27.6% compare
- 6 Saudi Arabia 23.7% compare
- 7 Oman 23.5% compare
- 8 Guyana 22.1% compare
- 9 Azerbaijan 21.0% compare
- 10 Iran, Islamic Republic of 18.3% compare
- 11 Chad 16.8% compare
More energy & mining data for Caribbean Small States
- Fuel imports 15.4% (2024)
- Ores and metals imports 3.3% (2024)
- Ores and metals exports 1.8% (2024)
- Fuel exports 29.7% (2024)
- Electric power transmission and distribution losses 5.5% (2023)
- Mineral rents 1.2% (2021)
- Natural gas rents 2.0% (2021)
- Total natural resources rents 7.9% (2021)
- Alternative and nuclear energy 0.7% (2023)
- Combustible renewables and waste 0.2% (2023)
Frequently asked questions
- What is oil rents in Caribbean Small States?
- Oil rents in Caribbean Small States was 4.3% in 2021, according to The Changing Wealth of Nations, World Bank (WB).
- What is the highest oil rents recorded in Caribbean Small States?
- The highest recorded value was 17.8% in 1980.
- What is the lowest oil rents recorded in Caribbean Small States?
- The lowest recorded value was 0.9% in 2016.
- How does Caribbean Small States rank for oil rents?
- Caribbean Small States ranks 8th out of 47 groups with data for 2021.
- Is oil rents rising or falling in Caribbean Small States?
- Over the last ten years it is down 17.0%. The long-run trend across the full record is volatile.
- Where does this Caribbean Small States 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 — 42 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.