Oil rents in Upper middle income
Upper middle income: Oil rents was 1.5% in 2021. ◆ Volatile
Oil rents in Upper middle income, 1970–2021
Source: The Changing Wealth of Nations, World Bank (WB). Measured in % of GDP.
Analysis
In 2021, oil rents in Upper middle income stood at 1.5%.
Compared with earlier readings it is up 96.9% on the previous year and down 62.8% over ten years.
Over the whole period, oil rents in Upper middle income peaked at 11.1% in 1980 and was at its lowest, 0.8%, in 2020.
Upper middle income ranks 29th 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 Upper middle income, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 0.9% | — |
| 1971 | 1.0% | +16.3% |
| 1972 | 1.3% | +23.7% |
| 1973 | 1.8% | +41.7% |
| 1974 | 7.0% | +288.2% |
| 1975 | 6.2% | -10.8% |
| 1976 | 6.8% | +10.1% |
| 1977 | 6.6% | -2.8% |
| 1978 | 6.5% | -1.7% |
| 1979 | 9.5% | +45.6% |
| 1980 | 11.1% | +17.2% |
| 1981 | 7.7% | -30.5% |
| 1982 | 5.8% | -24.8% |
| 1983 | 6.8% | +17.4% |
| 1984 | 6.8% | -0.3% |
| 1985 | 6.5% | -4.5% |
| 1986 | 3.0% | -54.0% |
| 1987 | 4.5% | +48.8% |
| 1988 | 3.4% | -22.7% |
| 1989 | 4.8% | +39.8% |
| 1990 | 5.9% | +21.7% |
| 1991 | 2.5% | -56.9% |
| 1992 | 2.5% | -1.9% |
| 1993 | 2.8% | +12.0% |
| 1994 | 2.3% | -15.9% |
| 1995 | 2.2% | -3.9% |
| 1996 | 2.6% | +18.0% |
| 1997 | 2.3% | -12.9% |
| 1998 | 1.4% | -39.2% |
| 1999 | 2.4% | +72.2% |
| 2000 | 4.1% | +71.5% |
| 2001 | 3.2% | -23.8% |
| 2002 | 3.2% | +1.0% |
| 2003 | 3.3% | +3.6% |
| 2004 | 4.1% | +23.5% |
| 2005 | 5.3% | +29.2% |
| 2006 | 5.4% | +2.6% |
| 2007 | 4.7% | -12.8% |
| 2008 | 5.5% | +16.4% |
| 2009 | 3.0% | -45.8% |
| 2010 | 3.4% | +14.7% |
| 2011 | 4.1% | +20.5% |
| 2012 | 3.9% | -6.2% |
| 2013 | 3.3% | -14.8% |
| 2014 | 2.9% | -12.7% |
| 2015 | 1.3% | -53.2% |
| 2016 | 1.1% | -16.1% |
| 2017 | 1.5% | +30.9% |
| 2018 | 2.1% | +40.0% |
| 2019 | 1.6% | -22.3% |
| 2020 | 0.8% | -51.5% |
| 2021 | 1.5% | +96.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4.8% | 0.9% | 9.5% | 10 |
| 1980s | 6.1% | 3.0% | 11.1% | 10 |
| 1990s | 2.7% | 1.4% | 5.9% | 10 |
| 2000s | 4.2% | 3.0% | 5.5% | 10 |
| 2010s | 2.5% | 1.1% | 4.1% | 10 |
| 2020s | 1.2% | 0.8% | 1.5% | 2 |
Countries ranked near Upper middle income
- 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
- 32 Colombia 3.4% compare
More energy & mining data for Upper middle income
- Fuel imports 16.2% (2024)
- Ores and metals imports 9.0% (2024)
- Ores and metals exports 4.0% (2024)
- Fuel exports 6.0% (2024)
- Electric power transmission and distribution losses 13.0% (2024)
- Mineral rents 1.1% (2021)
- Natural gas rents 0.5% (2021)
- Total natural resources rents 3.8% (2021)
- Alternative and nuclear energy 13.2% (2024)
- Electric power consumption 4,307 kWh per capita (2023)
Frequently asked questions
- What is oil rents in Upper middle income?
- Oil rents in Upper 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 Upper middle income?
- The highest recorded value was 11.1% in 1980.
- What is the lowest oil rents recorded in Upper middle income?
- The lowest recorded value was 0.8% in 2020.
- How does Upper middle income rank for oil rents?
- Upper middle income ranks 29th out of 47 groups with data for 2021.
- Is oil rents rising or falling in Upper middle income?
- Over the last ten years it is down 62.8%. The long-run trend across the full record is volatile.
- Where does this Upper 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.