In the CSB databases GDP is expressed at constant prices of 2010
Starting with September 30, Central Statistical Bureau (CSB) starts publishing data on Gross Domestic Product (GDP) at constant prices of 2010, changing the reference year from 2000 to 2010.
Reference year is a year in prices of which GDP and time series of its indicators is recalculated, thus gaining opportunity to compare changes of GDP and volume of its indicators over any year of time series.
The new time series allow analyzing processes taking place in economics better because proximity of the base period to the reference year reduces the impact of structural changes to the total amounts.
Taking into account that for data users the most significant are GDP data for the last years, the reference year is changed to the latest in order to decrease mathematical discrepancy which result from summing up indicators to a higher level, for example, summing data on value added in each sector to obtain total value added. The further the base period is from reference year, the larger adjustments between total of separate lower level indicator and higher level indicator arise.
A year ending with “0” or “5” is usually taken as a reference year. Next change of the reference year is foreseen in 2019, when data will be published at prices of 2015.
Annual National Accounts Section
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