Helgi's Point - Oil Rents As % Of GDP

Oil rents are the difference between the value of crude oil production at world prices and total costs of production.

Depending on the market price, oil rents account for a staggering 50% of GDP in Azerbaijan. There are a couple of countries where oil rents represent 20-30% of GDP, such as Algeria, Nigeria, Iran, or Kazakhstan, as seen over the last five years.