TANZANIA REBASES GDP: Tanzania's Growth Domestic Product grows with over 30 percent

Tanzania's gross domestic product has expanded by 32 percent after the state rebased its calculation to incorporate new sectors in the economy, including big discoveries of natural gas. According to the national bureau of statistics, its gdp stood at 69.8 trillion tanzanian shillings after the rebasing, up from a previous estimate of 53 trillion shillings. Farming remains tanzania's economic mainstay, while tourism, mining, communications and financial services are the other key sectors. Tanzania has also made big natural gas discoveries, with revenues expected to give a boost to the economy by 2020. The base year for calculations was changed to 2007 from 2001 and the nbs said gdp growth for 2013 was subsequently revised up to 7.3 percent from 7 percent previously. The rebasing comes just months after Kenyan's rebasing efforts, which saw the country’s ecopnomy revised up by 25 percent to 53.4 billion dollars in 2013.

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