Annex to the Budget Guideline 2015-2016

Abstract

The Government through the National Bureau of Statistics (NBS) has updated the national GDP from 2001 base to 2007 consistent with the results of major household based surveys such as Household Budget Survey of 2007, Integrated Labour Force Survey 2006, Agriculture Sample Census 2007/08, Annual Industrial Surveys 2007 and Foreign Direct Investment Surveys 2007. Other data were sourced from administrative records which include imports and exports of goods and services, Government Finance Statistics and Value-Added Tax. In general, the national GDP need to be up dated overtime on the list of products in order to reflect reality in economic activities, as continuous developments and innovations lead to new products and activities to appear in the market while obsolescence causes old products to disappear from the market. New products resulting from changes in science and technology include money transaction using mobile phones, natural gas and art and entertainment.