The rebasing of Gross Domestic Product (GDP) is a common process
undertaken by a National Statistical Office (NSO) to describe the
current economic conditions. Badan Pusat Statistik (BPS) has rebased the
Indonesia’s GDP five times, which is 1960, 1973, 1983, 1993, and 2000.
Currently, BPS undertakes the rebasing process of GDP from base year
2000 to 2010. So, estimates of constant price GDP will be expressed in
the prices of 2010.
Rebasing GDP to reference year 2010 does not only changes the base year
prices, but also improve conceptual, scope, and methodological reviews
based on System of National Accounts 2008 (2008 SNA).
Why GDP needs to be rebased?
Over the past ten years, many changes in the structure of global and
local economy that influence in the national economy. The global
financial crisis or the implementation of free trade area is an example
of the refinement that needs to be adopted in the national statistical
recording mechanism.
The refinement process in the national statistical system has been
undertaken by rebasing the GDP to reference year 2010 and adopting the
three estimates of GDP from production, expenditure and income
approaches using Supply and Use Tables (SUT) as recommended in the SNA.
The rebasing also reveals a more accurate estimate of the size and
structure of the economy by incorporating the new economic activities
which were not previously captured in the computational framework.
During November and December 2014, BPS has already promoted the new
Indonesia’s GDP. It started within the BPS internally, then extended to
the stakeholders such as National Planning Board, Ministry of Finance,
the Central Bank of Indonesia, other ministries/agencies, practitioners
and academics, and the media. This was performed in order to build
awareness of the impact of new GDP that will effect to the users.
When will BPS release GDP (reference year 2010)?
BPS will release official GDP base year 2010 on February, 2015 at the
time of the release of quarterly GDP (the 4th Quarter of GDP 2014).
Where is information about rebasing Indonesia’s GDP available?
