Oil rents in Latin America & Caribbean
Latin America & Caribbean: Oil rents was 1.9% in 2021. ◆ Volatile
Oil rents in Latin America & Caribbean, 1970–2021
Source: The Changing Wealth of Nations, World Bank (WB). Measured in % of GDP.
Analysis
Latin America & Caribbean recorded 1.9% for oil rents in 2021.
That represents a change of up 142.0% on the previous year and down 53.6% over ten years.
Over the whole period, oil rents in Latin America & Caribbean peaked at 6.8% in 1980 and was at its lowest, 0.5%, in 1970.
Latin America & Caribbean ranks 21st of 47 groups on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Oil rents in Latin America & Caribbean, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 0.5% | — |
| 1971 | 0.7% | +33.2% |
| 1972 | 0.7% | -0.9% |
| 1973 | 0.9% | +42.2% |
| 1974 | 3.9% | +308.2% |
| 1975 | 3.2% | -17.8% |
| 1976 | 3.2% | -0.3% |
| 1977 | 2.5% | -20.3% |
| 1978 | 2.6% | +2.3% |
| 1979 | 6.4% | +146.0% |
| 1980 | 6.8% | +7.2% |
| 1981 | 5.3% | -21.7% |
| 1982 | 3.6% | -32.5% |
| 1983 | 5.5% | +52.0% |
| 1984 | 5.5% | -0.3% |
| 1985 | 5.1% | -7.3% |
| 1986 | 2.2% | -57.0% |
| 1987 | 3.4% | +54.4% |
| 1988 | 2.3% | -31.6% |
| 1989 | 3.2% | +38.7% |
| 1990 | 4.1% | +29.7% |
| 1991 | 2.2% | -46.5% |
| 1992 | 2.2% | -0.1% |
| 1993 | 1.9% | -15.2% |
| 1994 | 1.6% | -15.1% |
| 1995 | 1.8% | +11.6% |
| 1996 | 2.3% | +27.0% |
| 1997 | 1.9% | -15.7% |
| 1998 | 1.0% | -45.8% |
| 1999 | 1.9% | +86.5% |
| 2000 | 3.2% | +65.7% |
| 2001 | 2.5% | -22.8% |
| 2002 | 2.9% | +17.2% |
| 2003 | 3.1% | +8.3% |
| 2004 | 3.7% | +18.2% |
| 2005 | 4.7% | +27.7% |
| 2006 | 4.9% | +3.5% |
| 2007 | 4.2% | -13.8% |
| 2008 | 5.0% | +18.1% |
| 2009 | 2.6% | -48.6% |
| 2010 | 2.9% | +15.5% |
| 2011 | 4.2% | +41.1% |
| 2012 | 3.9% | -6.4% |
| 2013 | 3.2% | -16.6% |
| 2014 | 2.8% | -14.8% |
| 2015 | 1.1% | -61.1% |
| 2016 | 0.8% | -23.0% |
| 2017 | 1.1% | +30.8% |
| 2018 | 1.7% | +58.4% |
| 2019 | 1.4% | -17.3% |
| 2020 | 0.8% | -43.9% |
| 2021 | 1.9% | +142.0% |
Biggest year-on-year movements
Years where Oil rents in Latin America & Caribbean 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 | +308.2% | 0.9% | 3.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2.4% | 0.5% | 6.4% | 10 |
| 1980s | 4.3% | 2.2% | 6.8% | 10 |
| 1990s | 2.1% | 1.0% | 4.1% | 10 |
| 2000s | 3.7% | 2.5% | 5.0% | 10 |
| 2010s | 2.3% | 0.8% | 4.2% | 10 |
| 2020s | 1.4% | 0.8% | 1.9% | 2 |
Countries ranked near Latin America & Caribbean
- 18 Venezuela, Bolivarian Republic of 11.3% compare
- 19 Bahrain 10.9% compare
- 20 South Sudan 10.4% compare
- 21 Brunei Darussalam 10.4% compare
- 22 Russian Federation 9.7% compare
- 23 Suriname 7.9% compare
- 24 Ecuador 6.4% compare
More energy & mining data for Latin America & Caribbean
- Fuel imports 10.9% (2024)
- Ores and metals imports 2.3% (2024)
- Ores and metals exports 10.4% (2024)
- Fuel exports 9.8% (2024)
- Electric power transmission and distribution losses 13.6% (2024)
- Mineral rents 3.6% (2021)
- Natural gas rents 0.1% (2021)
- Total natural resources rents 6.1% (2021)
- Alternative and nuclear energy 12.8% (2024)
- Electric power consumption 2,804 kWh per capita (2024)
Frequently asked questions
- What is oil rents in Latin America & Caribbean?
- Oil rents in Latin America & Caribbean was 1.9% in 2021, according to The Changing Wealth of Nations, World Bank (WB).
- What is the highest oil rents recorded in Latin America & Caribbean?
- The highest recorded value was 6.8% in 1980.
- What is the lowest oil rents recorded in Latin America & Caribbean?
- The lowest recorded value was 0.5% in 1970.
- How does Latin America & Caribbean rank for oil rents?
- Latin America & Caribbean ranks 21st out of 47 groups with data for 2021.
- Is oil rents rising or falling in Latin America & Caribbean?
- Over the last ten years it is down 53.6%. The long-run trend across the full record is volatile.
- Where does this Latin America & Caribbean 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.