Australia: Oil rents (% of GDP)
In , Australia's Oil rents (% of GDP) was 0.26.
That's up 144.2% from 2020, the highest value since .
The global average for this indicator in 2021 was 2.59 . Australia ranks #65 globally out of 190 reporting countries. Within East Asia & Pacific, it ranks #10 of 31.
Source: World Bank Open Data (NY.GDP.PETR.RT.ZS) • Data as of 2021
Trend (2002–2021)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
Highlights
- Peak
- 0.94
- Trough
- 0.11
- 1-year change
- +144.2%
- 5-year change
- +52.6%
- +8.8% / yr
- 10-year change
- -69.9%
- -11.3% / yr
Historical Data — Last 10 Years
| Year | Oil rents (% of GDP) |
|---|---|
| 0.2642 | |
| 0.1082 | |
| 0.2292 | |
| 0.2647 | |
| 0.1987 | |
| 0.1732 | |
| 0.1979 | |
| 0.4889 | |
| 0.5385 | |
| 0.6794 |
About Oil rents (% of GDP)
Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.
Indicator code: NY.GDP.PETR.RT.ZS • Category: Economy
Frequently asked questions
- What was Australia's Oil rents (% of GDP) in 2021?
- In 2021, Australia's Oil rents (% of GDP) was 0.26, according to World Bank Open Data.
- Is Australia's Oil rents (% of GDP) rising or falling?
- Australia's Oil rents (% of GDP) rose 144.2% from 2020 to 2021.
- How does Australia rank globally on Oil rents (% of GDP)?
- In 2021, Australia ranked #65 out of 190 countries reporting Oil rents (% of GDP).
- How does Australia's Oil rents (% of GDP) compare to the world average?
- The global average for Oil rents (% of GDP) in 2021 was 2.59, so Australia is below the world average. Within East Asia & Pacific, it ranks #10 of 31.
- What is Oil rents (% of GDP) and how is it measured?
- Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.
Source: World Bank Open Data (NY.GDP.PETR.RT.ZS), CC BY 4.0.