Oil rents in Latin America & the Caribbean (IDA & IBRD countries)
Latin America & the Caribbean (IDA & IBRD countries): Oil rents was 2.0% in 2021. ◆ Volatile
Oil rents in Latin America & the Caribbean (IDA & IBRD countries), 1970–2021
Source: The Changing Wealth of Nations, World Bank (WB). Measured in % of GDP.
Analysis
In 2021, oil rents in Latin America & the Caribbean (IDA & IBRD countries) stood at 2.0%.
That represents a change of up 137.0% on the previous year and down 53.7% over ten years.
Over the whole period, oil rents in Latin America & the Caribbean (IDA & IBRD countries) peaked at 7.1% in 1980 and was at its lowest, 0.5%, in 1970.
That places Latin America & the Caribbean (IDA & IBRD countries) 19th out of 47 groups with data for 2021, putting it 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 & the Caribbean (IDA & IBRD countries), year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 0.5% | — |
| 1971 | 0.7% | +33.2% |
| 1972 | 0.7% | -0.8% |
| 1973 | 1.0% | +41.7% |
| 1974 | 4.0% | +306.2% |
| 1975 | 3.3% | -17.6% |
| 1976 | 3.3% | -0.5% |
| 1977 | 2.6% | -20.4% |
| 1978 | 2.7% | +2.5% |
| 1979 | 6.6% | +145.9% |
| 1980 | 7.1% | +8.9% |
| 1981 | 5.6% | -22.0% |
| 1982 | 3.8% | -32.1% |
| 1983 | 5.8% | +53.4% |
| 1984 | 5.8% | -0.0% |
| 1985 | 5.4% | -7.2% |
| 1986 | 2.3% | -56.8% |
| 1987 | 3.6% | +54.4% |
| 1988 | 2.5% | -31.6% |
| 1989 | 3.4% | +38.0% |
| 1990 | 4.4% | +29.5% |
| 1991 | 2.3% | -46.9% |
| 1992 | 2.3% | -0.6% |
| 1993 | 2.0% | -15.7% |
| 1994 | 1.7% | -15.3% |
| 1995 | 1.8% | +11.7% |
| 1996 | 2.3% | +26.4% |
| 1997 | 2.0% | -15.7% |
| 1998 | 1.1% | -45.7% |
| 1999 | 2.0% | +87.9% |
| 2000 | 3.3% | +65.4% |
| 2001 | 2.6% | -22.4% |
| 2002 | 3.0% | +18.3% |
| 2003 | 3.3% | +8.5% |
| 2004 | 3.9% | +17.7% |
| 2005 | 4.9% | +27.0% |
| 2006 | 5.1% | +3.2% |
| 2007 | 4.4% | -14.3% |
| 2008 | 5.1% | +17.5% |
| 2009 | 2.6% | -48.5% |
| 2010 | 3.0% | +14.7% |
| 2011 | 4.3% | +40.8% |
| 2012 | 4.0% | -6.4% |
| 2013 | 3.3% | -16.6% |
| 2014 | 2.8% | -14.7% |
| 2015 | 1.1% | -60.8% |
| 2016 | 0.9% | -22.8% |
| 2017 | 1.1% | +30.3% |
| 2018 | 1.8% | +58.5% |
| 2019 | 1.5% | -17.0% |
| 2020 | 0.8% | -43.4% |
| 2021 | 2.0% | +137.0% |
Biggest year-on-year movements
Years where Oil rents in Latin America & the Caribbean (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 |
|---|---|---|---|
| 1974 | +306.2% | 1.0% | 4.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2.5% | 0.5% | 6.6% | 10 |
| 1980s | 4.5% | 2.3% | 7.1% | 10 |
| 1990s | 2.2% | 1.1% | 4.4% | 10 |
| 2000s | 3.8% | 2.6% | 5.1% | 10 |
| 2010s | 2.4% | 0.9% | 4.3% | 10 |
| 2020s | 1.4% | 0.8% | 2.0% | 2 |
Countries ranked near Latin America & the Caribbean (IDA & IBRD countries)
More energy & mining data for Latin America & the Caribbean (IDA & IBRD countries)
- Fuel imports 10.9% (2024)
- Ores and metals imports 2.3% (2024)
- Ores and metals exports 10.5% (2025)
- Fuel exports 6.9% (2025)
- Electric power transmission and distribution losses 13.6% (2024)
- Mineral rents 3.7% (2021)
- Natural gas rents 0.2% (2021)
- Total natural resources rents 6.3% (2021)
- Alternative and nuclear energy 12.8% (2024)
- Electric power consumption 2,804 kWh per capita (2024)
All data for Latin America & the Caribbean (IDA & IBRD countries) →
Frequently asked questions
- What is oil rents in Latin America & the Caribbean (IDA & IBRD countries)?
- Oil rents in Latin America & the Caribbean (IDA & IBRD countries) was 2.0% in 2021, according to The Changing Wealth of Nations, World Bank (WB).
- What is the highest oil rents recorded in Latin America & the Caribbean (IDA & IBRD countries)?
- The highest recorded value was 7.1% in 1980.
- What is the lowest oil rents recorded in Latin America & the Caribbean (IDA & IBRD countries)?
- The lowest recorded value was 0.5% in 1970.
- How does Latin America & the Caribbean (IDA & IBRD countries) rank for oil rents?
- Latin America & the Caribbean (IDA & IBRD countries) ranks 19th out of 47 groups with data for 2021.
- Is oil rents rising or falling in Latin America & the Caribbean (IDA & IBRD countries)?
- Over the last ten years it is down 53.7%. The long-run trend across the full record is volatile.
- Where does this Latin America & the Caribbean (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.