Oil rents in Least developed countries
Least developed countries: Oil rents was 2.1% in 2021. ◆ Volatile
Oil rents in Least developed countries, 1980–2021
Source: The Changing Wealth of Nations, World Bank (WB). Measured in % of GDP.
Analysis
Least developed countries recorded 2.1% for oil rents in 2021.
That represents a change of up 85.5% on the previous year and down 78.1% over ten years.
Over the whole period, oil rents in Least developed countries peaked at 13.8% in 2008 and was at its lowest, 0.5%, in 1982.
Least developed countries ranks 17th of 45 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 Least developed countries, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1980 | 1.9% | — |
| 1981 | 1.0% | -47.0% |
| 1982 | 0.5% | -48.2% |
| 1983 | 1.1% | +111.6% |
| 1984 | 1.4% | +27.2% |
| 1985 | 1.6% | +13.6% |
| 1986 | 0.6% | -64.0% |
| 1987 | 1.3% | +124.2% |
| 1988 | 1.1% | -16.7% |
| 1989 | 1.7% | +61.2% |
| 1990 | 4.0% | +130.4% |
| 1991 | 2.2% | -43.2% |
| 1992 | 3.3% | +46.8% |
| 1993 | 4.1% | +23.8% |
| 1994 | 7.6% | +87.5% |
| 1995 | 4.6% | -39.8% |
| 1996 | 3.2% | -30.7% |
| 1997 | 2.8% | -11.5% |
| 1998 | 1.6% | -43.8% |
| 1999 | 2.7% | +70.0% |
| 2000 | 5.2% | +92.9% |
| 2001 | 4.1% | -20.7% |
| 2002 | 4.6% | +10.8% |
| 2003 | 4.4% | -4.2% |
| 2004 | 6.0% | +37.6% |
| 2005 | 9.1% | +50.2% |
| 2006 | 10.0% | +10.1% |
| 2007 | 10.6% | +6.2% |
| 2008 | 13.8% | +29.9% |
| 2009 | 6.8% | -50.9% |
| 2010 | 8.5% | +25.7% |
| 2011 | 9.7% | +13.7% |
| 2012 | 7.4% | -22.9% |
| 2013 | 6.2% | -17.2% |
| 2014 | 4.6% | -25.1% |
| 2015 | 1.8% | -60.5% |
| 2016 | 1.5% | -19.2% |
| 2017 | 2.3% | +58.6% |
| 2018 | 3.0% | +29.4% |
| 2019 | 2.3% | -23.0% |
| 2020 | 1.1% | -51.0% |
| 2021 | 2.1% | +85.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 1.2% | 0.5% | 1.9% | 10 |
| 1990s | 3.6% | 1.6% | 7.6% | 10 |
| 2000s | 7.4% | 4.1% | 13.8% | 10 |
| 2010s | 4.7% | 1.5% | 9.7% | 10 |
| 2020s | 1.6% | 1.1% | 2.1% | 2 |
Countries ranked near Least developed countries
- 14 Qatar 15.3% compare
- 15 Equatorial Guinea 14.9% compare
- 16 Kazakhstan 14.8% compare
- 17 Algeria 14.5% compare
- 18 Venezuela 11.3% compare
- 19 Bahrain 10.9% compare
- 20 South Sudan 10.4% compare
More energy & mining data for Least developed countries
- Fuel imports 17.9% (2019)
- Ores and metals imports 1.6% (2019)
- Ores and metals exports 15.1% (2023)
- Fuel exports 37.4% (2023)
- Electric power transmission and distribution losses 11.5% (2023)
- Mineral rents 3.1% (2021)
- Natural gas rents 0.6% (2021)
- Total natural resources rents 8.5% (2021)
- Alternative and nuclear energy 4.1% (2023)
- Electric power consumption 287.82 kWh per capita (2023)
Frequently asked questions
- What is oil rents in Least developed countries?
- Oil rents in Least developed countries was 2.1% in 2021, according to The Changing Wealth of Nations, World Bank (WB).
- What is the highest oil rents recorded in Least developed countries?
- The highest recorded value was 13.8% in 2008.
- What is the lowest oil rents recorded in Least developed countries?
- The lowest recorded value was 0.5% in 1982.
- How does Least developed countries rank for oil rents?
- Least developed countries ranks 17th out of 45 groups with data for 2021.
- Is oil rents rising or falling in Least developed countries?
- Over the last ten years it is down 78.1%. The long-run trend across the full record is volatile.
- Where does this Least developed 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.
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About this data
Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.