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Which Country Benefits the Most from Oil Extraction?

Oil Rents (As % of GDP) (%), 2020 or latest
Oil & Gas | February 1, 2023
$2.99
Excel Sheet

Based on a comparison of 105 countries in 2020, Iraq ranked the highest in oil rents as a percentage of GDP with 32.2% followed by Congo and Kuwait. On the other end of the scale was Honduras with < 0.001%, South Korea with < 0.001% and Spain with < 0.001%.

Average oil rents as a percentage of GDP reached 0.884% in 2020 in the World according to EIA. This is 54.2 % less than in the previous year and -139 % less than 10 years ago.

Historically, average oil rents as a percentage of GDP reached an all time high of 4.49% in 1980 and an all time low of 0.460% in 1970. The average annual growth amounted to 1.31 % since 1970.

Data for more countries are available at Oil Rents (As % of GDP) indicator page.

Oil Rents (As % of GDP) Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Angola % 23.4% 10.4% 10.3% 15.8% 26.3%
Azerbaijan % 20.5% 12.1% 13.2% 17.9% 25.3%
Chad % ... ... ... 17.4% 7.53% 6.75% 14.8% 20.5%
Congo % 28.4% 13.2% 13.6% 28.1% 42.3%
Equatorial Guinea % ... ... 23.9% 12.7% 12.1% 17.4% 23.0%
Gabon % 23.2% 9.95% 9.40% 16.2% 20.1%
Guyana % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Iran % 23.1% 12.8% 11.8% 15.8% 31.2%
Iraq % 45.6% 36.2% 31.7% 37.8% 44.3%
Kuwait % 51.0% 37.1% 32.5% 37.0% 45.1%
Libya % 39.7% 24.9% 20.2% 36.7% 42.5%
Oman % 36.1% 21.4% 18.3% 21.8% 26.7%
Qatar % 21.3% 12.5% 10.6% 12.9% 15.6%
Saudi Arabia % 40.4% 23.6% 19.6% 23.7% 29.3%
United Arab Emirates % 23.0% 13.1% 10.8% 13.0% 16.6%

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