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?Information about rebasing and implementation of the 2008 SNA on Indonesia's GDP can be found in the booklet "
Rebasing Indonesia’s GDP Based On The 2008 SNA".
