Oil rents in Low & middle income
Low & middle income: Oil rents was 1.5% in 2021. ◆ Volatile
Oil rents in Low & middle income, 1970–2021
Source: The Changing Wealth of Nations, World Bank (WB). Measured in % of GDP.
Analysis
Low & middle income recorded 1.5% for oil rents in 2021.
The figure is up 92.4% on the previous year and down 66.8% over ten years.
Over the whole period, oil rents in Low & middle income peaked at 10.7% in 1980 and was at its lowest, 0.8%, in 2020.
That places Low & middle income 28th 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 Low & middle income, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 0.8% | — |
| 1971 | 1.0% | +14.5% |
| 1972 | 1.2% | +21.0% |
| 1973 | 1.7% | +44.2% |
| 1974 | 7.1% | +320.0% |
| 1975 | 6.0% | -14.6% |
| 1976 | 6.6% | +9.4% |
| 1977 | 6.4% | -3.7% |
| 1978 | 6.1% | -4.4% |
| 1979 | 10.2% | +67.8% |
| 1980 | 10.7% | +4.4% |
| 1981 | 7.0% | -33.9% |
| 1982 | 5.1% | -27.9% |
| 1983 | 6.2% | +22.4% |
| 1984 | 6.4% | +3.3% |
| 1985 | 6.2% | -3.6% |
| 1986 | 2.8% | -55.1% |
| 1987 | 4.2% | +50.7% |
| 1988 | 3.2% | -22.7% |
| 1989 | 4.8% | +47.3% |
| 1990 | 5.9% | +24.8% |
| 1991 | 2.9% | -51.0% |
| 1992 | 2.9% | +0.5% |
| 1993 | 3.3% | +13.8% |
| 1994 | 3.0% | -11.3% |
| 1995 | 2.9% | -3.0% |
| 1996 | 3.3% | +16.3% |
| 1997 | 2.9% | -13.1% |
| 1998 | 1.7% | -42.2% |
| 1999 | 2.5% | +51.5% |
| 2000 | 4.4% | +73.7% |
| 2001 | 3.3% | -24.1% |
| 2002 | 3.4% | +0.6% |
| 2003 | 3.4% | +2.0% |
| 2004 | 4.3% | +24.0% |
| 2005 | 5.6% | +31.1% |
| 2006 | 5.7% | +2.6% |
| 2007 | 5.1% | -11.8% |
| 2008 | 6.0% | +19.6% |
| 2009 | 3.1% | -47.9% |
| 2010 | 3.7% | +17.5% |
| 2011 | 4.6% | +24.7% |
| 2012 | 4.2% | -8.9% |
| 2013 | 3.5% | -16.3% |
| 2014 | 2.9% | -16.2% |
| 2015 | 1.3% | -55.8% |
| 2016 | 1.1% | -17.6% |
| 2017 | 1.4% | +34.9% |
| 2018 | 2.0% | +40.4% |
| 2019 | 1.6% | -20.1% |
| 2020 | 0.8% | -51.0% |
| 2021 | 1.5% | +92.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4.7% | 0.8% | 10.2% | 10 |
| 1980s | 5.7% | 2.8% | 10.7% | 10 |
| 1990s | 3.1% | 1.7% | 5.9% | 10 |
| 2000s | 4.4% | 3.1% | 6.0% | 10 |
| 2010s | 2.6% | 1.1% | 4.6% | 10 |
| 2020s | 1.2% | 0.8% | 1.5% | 2 |
Countries ranked near Low & middle income
- 25 Nigeria 6.2% compare
- 26 Norway 6.1% compare
- 27 Turkmenistan 5.8% compare
- 28 Timor-Leste 5.3% compare
- 29 Yemen 4.8% compare
- 30 Ghana 4.1% compare
- 31 Syrian Arab Republic 4.0% compare
More energy & mining data for Low & middle income
- Fuel imports 18.2% (2024)
- Ores and metals imports 8.2% (2024)
- Ores and metals exports 4.2% (2024)
- Fuel exports 8.3% (2024)
- Electric power transmission and distribution losses 13.1% (2024)
- Mineral rents 1.2% (2021)
- Natural gas rents 0.5% (2021)
- Total natural resources rents 4.1% (2021)
- Alternative and nuclear energy 13.4% (2024)
- Electric power consumption 2,450 kWh per capita (2023)
Frequently asked questions
- What is oil rents in Low & middle income?
- Oil rents in Low & middle income was 1.5% in 2021, according to The Changing Wealth of Nations, World Bank (WB).
- What is the highest oil rents recorded in Low & middle income?
- The highest recorded value was 10.7% in 1980.
- What is the lowest oil rents recorded in Low & middle income?
- The lowest recorded value was 0.8% in 2020.
- How does Low & middle income rank for oil rents?
- Low & middle income ranks 28th out of 47 groups with data for 2021.
- Is oil rents rising or falling in Low & middle income?
- Over the last ten years it is down 66.8%. The long-run trend across the full record is volatile.
- Where does this Low & middle income 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.