Oil rents in Europe & Central Asia (IDA & IBRD countries)
Europe & Central Asia (IDA & IBRD countries): Oil rents was 4.8% in 2021. ◆ Volatile
Oil rents in Europe & Central Asia (IDA & IBRD countries), 1970–2021
Source: The Changing Wealth of Nations, World Bank (WB). Measured in % of GDP.
Analysis
Europe & Central Asia (IDA & IBRD countries) recorded 4.8% for oil rents in 2021.
The figure is up 110.5% on the previous year and down 24.1% over ten years.
Over the whole period, oil rents in Europe & Central Asia (IDA & IBRD countries) peaked at 6.8% in 2008 and was at its lowest, 0.0%, in 1970.
Europe & Central Asia (IDA & IBRD countries) ranks 7th of 47 groups on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Oil rents in Europe & Central Asia (IDA & IBRD countries), year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 0.0% | — |
| 1971 | 0.1% | +251.8% |
| 1972 | 0.1% | +17.0% |
| 1973 | 0.1% | +49.9% |
| 1974 | 0.4% | +315.8% |
| 1975 | 0.3% | -30.1% |
| 1976 | 0.2% | -21.6% |
| 1977 | 0.2% | -3.4% |
| 1978 | 0.2% | -7.7% |
| 1979 | 0.4% | +84.8% |
| 1980 | 0.4% | +10.6% |
| 1981 | 0.3% | -20.6% |
| 1982 | 0.2% | -32.9% |
| 1983 | 0.3% | +31.7% |
| 1984 | 0.4% | +47.1% |
| 1985 | 0.4% | -7.1% |
| 1986 | 0.1% | -61.6% |
| 1987 | 1.0% | +545.9% |
| 1988 | 3.6% | +281.1% |
| 1989 | 5.8% | +59.5% |
| 1990 | 6.5% | +11.9% |
| 1991 | 2.9% | -55.4% |
| 1992 | 2.8% | -1.4% |
| 1993 | 2.5% | -11.2% |
| 1994 | 2.3% | -9.1% |
| 1995 | 2.2% | -4.6% |
| 1996 | 2.9% | +33.9% |
| 1997 | 2.3% | -23.4% |
| 1998 | 0.8% | -65.6% |
| 1999 | 2.6% | +236.9% |
| 2000 | 5.6% | +113.6% |
| 2001 | 4.3% | -22.4% |
| 2002 | 4.4% | +1.5% |
| 2003 | 4.6% | +4.9% |
| 2004 | 5.2% | +13.4% |
| 2005 | 6.4% | +21.7% |
| 2006 | 6.3% | -1.1% |
| 2007 | 5.6% | -10.4% |
| 2008 | 6.8% | +20.5% |
| 2009 | 4.7% | -30.3% |
| 2010 | 4.7% | -1.0% |
| 2011 | 6.4% | +36.0% |
| 2012 | 5.9% | -7.4% |
| 2013 | 5.3% | -11.0% |
| 2014 | 5.2% | -1.1% |
| 2015 | 2.9% | -45.0% |
| 2016 | 2.3% | -18.6% |
| 2017 | 3.2% | +37.9% |
| 2018 | 5.0% | +56.7% |
| 2019 | 4.4% | -12.4% |
| 2020 | 2.3% | -47.7% |
| 2021 | 4.8% | +110.5% |
Biggest year-on-year movements
Years where Oil rents in Europe & Central Asia (IDA & IBRD countries) 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 |
|---|---|---|---|
| 1987 | +545.9% | 0.1% | 1.0% |
| 1974 | +315.8% | 0.1% | 0.4% |
| 1988 | +281.1% | 1.0% | 3.6% |
| 1971 | +251.8% | 0.0% | 0.1% |
| 1999 | +236.9% | 0.8% | 2.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.2% | 0.0% | 0.4% | 10 |
| 1980s | 1.3% | 0.1% | 5.8% | 10 |
| 1990s | 2.8% | 0.8% | 6.5% | 10 |
| 2000s | 5.4% | 4.3% | 6.8% | 10 |
| 2010s | 4.5% | 2.3% | 6.4% | 10 |
| 2020s | 3.6% | 2.3% | 4.8% | 2 |
Countries ranked near Europe & Central Asia (IDA & IBRD countries)
- 4 Angola 28.3% compare
- 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
More energy & mining data for Europe & Central Asia (IDA & IBRD countries)
- Fuel imports 8.9% (2024)
- Ores and metals imports 4.5% (2024)
- Ores and metals exports 6.6% (2021)
- Fuel exports 22.7% (2021)
- Electric power transmission and distribution losses 7.8% (2024)
- Mineral rents 1.9% (2021)
- Natural gas rents 2.8% (2021)
- Total natural resources rents 10.1% (2021)
- Alternative and nuclear energy 11.3% (2024)
- Electric power consumption 4,571 kWh per capita (2023)
Frequently asked questions
- What is oil rents in Europe & Central Asia (IDA & IBRD countries)?
- Oil rents in Europe & Central Asia (IDA & IBRD countries) was 4.8% in 2021, according to The Changing Wealth of Nations, World Bank (WB).
- What is the highest oil rents recorded in Europe & Central Asia (IDA & IBRD countries)?
- The highest recorded value was 6.8% in 2008.
- What is the lowest oil rents recorded in Europe & Central Asia (IDA & IBRD countries)?
- The lowest recorded value was 0.0% in 1970.
- How does Europe & Central Asia (IDA & IBRD countries) rank for oil rents?
- Europe & Central Asia (IDA & IBRD countries) ranks 7th out of 47 groups with data for 2021.
- Is oil rents rising or falling in Europe & Central Asia (IDA & IBRD countries)?
- Over the last ten years it is down 24.1%. The long-run trend across the full record is volatile.
- Where does this Europe & Central Asia (IDA & IBRD countries) 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 — 52 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.