This report uses the National Accounts from Statistics Norway to investigate whether there have been resource rents in the natural resource-based industries in the period 1984-2021. These industries include power generation, aquaculture, forestry, fishing, agriculture, mining and oil and gas extraction. If we exclude agriculture, total average resource rent for the last five years in the period 1984-2021 is almost 260 billion 2021-kroner above the total average for the first five years. If we also exclude the oil and gas sector, the annual resource rent is over 60 billion kroner higher towards the end compared to the beginning of the period. It is primarily power generation, aquaculture and fishing that have contributed to this development.
The resource rent in the natural resource-based industries in the period 1984-2021
Norway is a country rich in natural resources. Extraordinarily high returns in a sector based on the extraction of a natural resource are referred to as resource rents.
Published: 9 June 2022