Progress report on the implementation of the 2008 system of national accounts in Africa.
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This report serves to update and inform the Statistical Commission for Africa on the progress of the implementation of the 2008 System of National Accounts in Africa during the period since the previous session of the Commission, namely, from the end of 2016 to the time of writing. This report is not comprehensive owing to limited coverage, notwithstanding the efforts made to be inclusive. GDP is the key component and the most commonly used indicator for measuring the size and the growth of an economy. While constant price data have the advantage of being additive, over time the pattern of relative prices in the base period tends to become progressively less relevant owing to changes in the structure and patterns of production, consumption and investment in an economy. It is necessary to update the base period to adopt weights that are more consistent with and better account for current economic conditions. International statistical standards and recommendations require countries to update their GDP at least once every five years.