World Bank technical assistance improves measurement of Nepal’s GDP
On March 4, 2021, the Central Bureau of Statistics of Nepal (CBS) released a new, revamped series of estimates for its Gross Domestic Product (GDP). Data quality improvements reflect a comprehensive “rebasing” exercise for Nepal’s national accounts to overhaul measures of economic activity, supported by technical assistance from the World Bank. International standards recommend these rebasing processes be undertaken regularly, to reflect the most complete and accurate data sources available, update estimation methods and align with the latest international concepts and standards.
Establishing a periodic benchmark year via a rebasing exercise helps ensure a country’s economic structure is accurately measured. Along with other elements in the standard national accounts framework, this statistical overhaul is achieved through a