The National Bureau of Statistics (NBS) under the Ministry of Finance, is pleased to announce the forthcoming release of improved and rebased estimates of Gross Domestic Product (GDP) for the base year 2007 on Friday, October 31, 2014. The NBS is currently finalizing the dissemination materials for the event.
The revision is aimed at enhancing the quality of National Accounts estimates to better portray the economic activities in the country and ensure international comparability by using concepts, definition and method describe in United Nations System of National Accounts 1993 (SNA 1993) and partly 2008 SNA.
The GDP estimates for 2005 onwards have been rebased to the new 2007 base year, reflecting the more contemporary structure of the economy in 2007. The constant price estimates are expressed in 2007 prices compared to the 2001 prices in the previous series. The 2007 benchmark estimates have been produced using more current and comprehensive administrative and survey data, as well as using "Commodity Flow Method" - supply and use table framework.
The quarterly and annual current and constant 2007 price estimates of GDP by activity are now classified according to the International Standard Industry Classification (ISIC) Revision 4 compared to ISIC Revision 3.1 for the 2001 base series. The annual estimates of GDP by expenditure have also been rebased and improved.
In addition to the use of improved indicator and prices data, a number of methodological improvements consistent with the United Nations System of National Accounts 2008 recommendations have been implemented.
The compilation of the 2007 base year GDP estimates was done by the National accounts Staff of the NBS with Technical Assistance from the Statistics Denmark, International Monetary Fund (IMF) - East AFRITAC and the World Bank following the United Nations recommended guidelines.
Once released to all stakeholders simultaneously, the 2007 series will be official GDP estimates for Tanzania Mainland instead of the current 2001 base year GDP.
