Nonrenewable natural capital, oil in Australia
Australia: Nonrenewable natural capital, oil was 57.87 billion real chained 2019 US$ in 2020. ▼ Falling
Nonrenewable natural capital, oil in Australia, 1995–2020
Source: World Bank. 2021. The Changing Wealth of Nations 2021: Managing Assets for the Future. Washington, DC: World Bank. doi:10.1596/978-1-4648-1590-4. Measured in real chained 2019 US$.
Analysis
The most recent figure for nonrenewable natural capital, oil in Australia is 57.87 billion real chained 2019 US$, measured in 2020.
That represents a change of down 26.3% over ten years.
Over the whole period, nonrenewable natural capital, oil in Australia peaked at 82.81 billion real chained 2019 US$ in 2002 and was at its lowest, 28.23 billion real chained 2019 US$, in 2015.
Australia ranks 24th of 145 countries on this measure, in the top quarter.
The long-run direction has been consistently falling across the 26 years of available data.
Nonrenewable natural capital, oil in Australia, year by year
| Year | real chained 2019 US$ | Change |
|---|---|---|
| 1995 | 38.20 billion real chained 2019 US$ | — |
| 1996 | 36.91 billion real chained 2019 US$ | -3.4% |
| 1997 | 42.59 billion real chained 2019 US$ | +15.4% |
| 1998 | 42.59 billion real chained 2019 US$ | +0.0% |
| 1999 | 68.49 billion real chained 2019 US$ | +60.8% |
| 2000 | 68.49 billion real chained 2019 US$ | +0.0% |
| 2001 | 68.49 billion real chained 2019 US$ | +0.0% |
| 2002 | 82.81 billion real chained 2019 US$ | +20.9% |
| 2003 | 82.81 billion real chained 2019 US$ | +0.0% |
| 2004 | 82.81 billion real chained 2019 US$ | +0.0% |
| 2005 | 35.28 billion real chained 2019 US$ | -57.4% |
| 2006 | 34.00 billion real chained 2019 US$ | -3.6% |
| 2007 | 37.66 billion real chained 2019 US$ | +10.8% |
| 2008 | 35.49 billion real chained 2019 US$ | -5.8% |
| 2009 | 35.49 billion real chained 2019 US$ | +0.0% |
| 2010 | 78.50 billion real chained 2019 US$ | +121.2% |
| 2011 | 78.50 billion real chained 2019 US$ | +0.0% |
| 2012 | 33.73 billion real chained 2019 US$ | -57.0% |
| 2013 | 33.91 billion real chained 2019 US$ | +0.5% |
| 2014 | 33.91 billion real chained 2019 US$ | +0.0% |
| 2015 | 28.23 billion real chained 2019 US$ | -16.8% |
| 2016 | 28.23 billion real chained 2019 US$ | +0.0% |
| 2017 | 43.08 billion real chained 2019 US$ | +52.6% |
| 2018 | 57.87 billion real chained 2019 US$ | +34.3% |
| 2019 | 57.87 billion real chained 2019 US$ | +0.0% |
| 2020 | 57.87 billion real chained 2019 US$ | +0.0% |
Australia compared with similar countries
- Australia's 57.87 billion real chained 2019 US$ is above the median for high income countries, which is 354.16 million real chained 2019 US$, 163.4× the median. (49 countries reporting)
- Australia's 57.87 billion real chained 2019 US$ is above the median for East Asia & Pacific, which is 3.28 billion real chained 2019 US$, 17.7× the median. (15 countries reporting)
Biggest year-on-year movements
Years where Nonrenewable natural capital, oil in Australia changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2010 | +121.2% | 35.49 billion real chained 2019 US$ | 78.50 billion real chained 2019 US$ |
| 1999 | +60.8% | 42.59 billion real chained 2019 US$ | 68.49 billion real chained 2019 US$ |
| 2005 | -57.4% | 82.81 billion real chained 2019 US$ | 35.28 billion real chained 2019 US$ |
| 2012 | -57.0% | 78.50 billion real chained 2019 US$ | 33.73 billion real chained 2019 US$ |
| 2017 | +52.6% | 28.23 billion real chained 2019 US$ | 43.08 billion real chained 2019 US$ |
| 2018 | +34.3% | 43.08 billion real chained 2019 US$ | 57.87 billion real chained 2019 US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 45.76 billion real chained 2019 US$ | 36.91 billion real chained 2019 US$ | 68.49 billion real chained 2019 US$ | 5 |
| 2000s | 56.33 billion real chained 2019 US$ | 34.00 billion real chained 2019 US$ | 82.81 billion real chained 2019 US$ | 10 |
| 2010s | 47.38 billion real chained 2019 US$ | 28.23 billion real chained 2019 US$ | 78.50 billion real chained 2019 US$ | 10 |
| 2020s | 57.87 billion real chained 2019 US$ | 57.87 billion real chained 2019 US$ | 57.87 billion real chained 2019 US$ | 1 |
Countries ranked near Australia
- 21 Malaysia 72.02 billion real chained 2019 US$ compare
- 22 Congo 68.27 billion real chained 2019 US$ compare
- 23 United Kingdom 63.06 billion real chained 2019 US$ compare
- 25 Colombia 48.55 billion real chained 2019 US$ compare
- 26 Ecuador 47.25 billion real chained 2019 US$ compare
- 27 Gabon 30.34 billion real chained 2019 US$ compare
More reference data data for Australia
- Emission Totals - Indirect emissions (N2O) - Manure applied to Soils 1.21 (2050)
- Emission Totals - Indirect emissions (N2O) - Manure left on Pasture 28.02 (2050)
- Emission Totals - Indirect emissions (N2O) - IPCC Agriculture 38.41 (2050)
- Emission Totals - Indirect emissions (N2O) - Crop Residues 2.55 (2050)
- Emission Totals - Indirect emissions (N2O) - Agricultural Soils 38.41 (2050)
- Emission Totals - Emissions (N2O) - Manure applied to Soils 4.07 (2050)
- Emission Totals - Emissions (N2O) - Manure Management 6.14 (2050)
- Emission Totals - Emissions (N2O) - Manure left on Pasture 118.71 (2050)
- Emission Totals - Emissions (N2O) - IPCC Agriculture 170.29 (2050)
- Emission Totals - Emissions (N2O) - Crop Residues 13.9 (2050)
Frequently asked questions
- What is nonrenewable natural capital, oil in Australia?
- Nonrenewable natural capital, oil in Australia was 57.87 billion real chained 2019 US$ in 2020, according to World Bank. 2021. The Changing Wealth of Nations 2021: Managing Assets for the Future. Washington, DC: World Bank. doi:10.1596/978-1-4648-1590-4.
- What is the highest nonrenewable natural capital, oil recorded in Australia?
- The highest recorded value was 82.81 billion real chained 2019 US$ in 2002.
- What is the lowest nonrenewable natural capital, oil recorded in Australia?
- The lowest recorded value was 28.23 billion real chained 2019 US$ in 2015.
- How does Australia rank for nonrenewable natural capital, oil?
- Australia ranks 24th out of 145 countries with data for 2020.
- Is nonrenewable natural capital, oil rising or falling in Australia?
- Over the last ten years it is down 26.3%. The long-run trend across the full record is falling.
- Where does this Australia data come from?
- The figures come from World Bank. 2021. The Changing Wealth of Nations 2021: Managing Assets for the Future. Washington, DC: World Bank. doi:10.1596/978-1-4648-1590-4, published as part of Nonrenewable natural capital, oil (real chained 2019 US$). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 26 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Natural capital includes the valuation of renewable and nonrenewable natural capital. Renewable natural capital includes agricultural land (cropland and pastureland), forests (timber, and three ecosystem services: water, recretion and non-wood forest products), protected areas, mangroves and fisheries. Nonrenewable natural capital includes fossil fuel energy (oil, gas, hard and soft coal) and minerals (bauxite, copper, gold, iron ore, lead, nickel, phosphate, silver, tin, and zinc),Values are measured at market exchange rates in constant 2018 US dollars, using a country-specific GDP deflator.