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Gross Domestic Products (GDP)
Gross Domestic Products (GDP) of Zanzibar is calculated by summing up values (Value Added) for all goods and services produced within economic area of Zanzibar for particular periods normally year or quarter.
Office of Chief Government Statistician Zanzibar as government agency mandated to all official statistics is very responsible for production of GDP estimates yearly and quarterly. The GDP estimates are produced in both current and constant prices with 2007 base year prices.
Methods of Compilation:
As other countries, Zanzibar compiles GDP using the concepts and guidelines of System of National Accounts of 1993 and 2008 in small portion.
There are three methods recommended internationally for compilation of GDP; however in Zanzibar two methods are used namely Production and Expenditure methods but not ready for income method.
The production method measures the level of economy basing to production activities for goods and services in particular period. This includes production in agriculture, forestry, livestock and fishing; industrial productions, and provision of all services such as transportation, education, health, trade etc. This method demands the production output (Gross Outputs) and production costs (Intermediate Consumption) to get GDP.
The expenditure estimates measures the level of economy basing to expenditures incurred (final consumption expenditures by government, NGOs, households); gross fixed capital formation (Construction, Transport equipment, Other machinery and equipment, working livestock); changes in inventories; acquisition less disposal of valuables; and level of export and imports.
Government Finance Statistics (GFS)
The GFS are the statistics based on accounting information which enable policymakers and analysts to analyze the financial operations and financial position of government, institutional sector or transaction level and to assess the impact of policy decisions on the economy. GFS also enable the government to make international comparisons of financial performance.
The GFS system covers all activities of government that can be measured in financial terms. The system distinguishes between transactions and other economic flows that impact of movements in assets and liabilities held by government. The statistics also include information about the value of government’ investments and debt.
Currently, the Zanzibar GFS unit is controlled by the Ministry of Finance through the Office of Chief Government Statistician (OCGS) under the National Account section. The GFS unit collects data from three areas, namely Budgetary Cental Government (IFMIS), Local Government and Extra Budgetary Units. For the extension of its coverage, the unit is in the process to collect data from Public Corporations and Financial Institutions.
Data collected from the above areas includes revenues, expenditures and small part of assets and liabilities. The data are collected by requesting the responsible institutions to provide itemized data for the reference period. Currently, the data compilation is done by using GFS Manual 2001, and the unit is in the process of migrating to GFS Manual 2014.
The Zanzibar GFS success to provide the statement of government total revenue and expenditure, cash flow statements and government balance (surplus/deficit).