The National Institute of Statistics of Rwanda (NISR) has concluded the rebasing of the country’s Gross Domestic Product (GDP). This is an internationally recommended practice done to reflect changes in the economy over time.
The 2024 GDP rebasing is built on NISR’s ongoing commitment to maintain updated and reliable national accounts. Since 2006, Rwanda has systematically updated its GDP base year on a periodic basis as follows: the base year was updated to 2006 (implemented in 2009), then to 2011(in 2014), followed by 2014 (in 2017), 2017 (in 2020) and recently to 2025 (in 2025).
What is GDP rebasing?
GDP rebasing refers to the process of updating the reference year used to calculate real GDP and the structure of the economy. This process ensures that GDP estimates reflect the current state of the economy rather than relying on outdated price structures and industry weights.
In Rwanda, rebasing has involved the development of Supply and use tables (SUT) for the base year. These tables provide a basis for incorporating more detailed and comprehensive data on production, trade, and consumption beyond what is available through routine collection. Further details are provided in Section B.
Why rebasing matters
Quarterly and annual GDP estimates are compiled by extrapolating “benchmark values” using value and quantity indicators. This approach is essential because the surveys and data required for accurate GDP estimation take time to collect and analyze, and can be costly to produce on a frequent basis. However, these indicators may gradually become less accurate over time.
Therefore, the rebasing exercise should be undertaken:
- To consider structural economic changes, to reflect price changes, take into accounts shifts in the relative importance of goods and services, to include new economic activities, and shift in production technologies.
- To include into the compilation data and information that are available less frequently than on a quarterly or annual basis, such as Household budget surveys, Census etc.;
- To adopt international best practices and methodological improvements, ensuring better alignment and valuation of economic structural change (SNA).