The average share of GDP generated from oil rents in Russia increased by five percentage points (+106.16 percent) in 2021 in comparison to the previous year. Therefore, 2021 was a significant increase in the average share. The estimates of natural resource rents are calculated as the difference between the price of a commodity and the average cost of producing it. For oil rents, this is estimated by subtracting the total costs of crude oil production from the value of production at regional prices.
The source added the following information: 'Oil rents are the difference between the value of crude oil production at world prices and total costs of production.' Figures have been rounded.
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World Bank. (June 28, 2024). Oil rents as percentage of gross domestic product (GDP) in Russia from 2011 to 2021 [Graph]. In Statista. Retrieved July 27, 2024, from https://www.statista.com/statistics/1026640/russia-oil-rents-share-of-gdp/
World Bank. "Oil rents as percentage of gross domestic product (GDP) in Russia from 2011 to 2021." Chart. June 28, 2024. Statista. Accessed July 27, 2024. https://www.statista.com/statistics/1026640/russia-oil-rents-share-of-gdp/
World Bank. (2024). Oil rents as percentage of gross domestic product (GDP) in Russia from 2011 to 2021. Statista. Statista Inc.. Accessed: July 27, 2024. https://www.statista.com/statistics/1026640/russia-oil-rents-share-of-gdp/
World Bank. "Oil Rents as Percentage of Gross Domestic Product (Gdp) in Russia from 2011 to 2021." Statista, Statista Inc., 28 Jun 2024, https://www.statista.com/statistics/1026640/russia-oil-rents-share-of-gdp/
World Bank, Oil rents as percentage of gross domestic product (GDP) in Russia from 2011 to 2021 Statista, https://www.statista.com/statistics/1026640/russia-oil-rents-share-of-gdp/ (last visited July 27, 2024)
Oil rents as percentage of gross domestic product (GDP) in Russia from 2011 to 2021 [Graph], World Bank, June 28, 2024. [Online]. Available: https://www.statista.com/statistics/1026640/russia-oil-rents-share-of-gdp/