Kenya: Telecommunications is an example of an industry that has been expanding with the popularity of mobile-phone money transfer and banking services and Internet usage, Mwangi said in an e-mailed statement today from the capital, Nairobi. Kenya will change its base year for measuring GDP to 2009 from 2001, he said, according to Bloomberg. Kenyas GDP was $40.7 billion in 2012, according to World Bank data. Its forecast by the government to grow about 5.5 percent this year and Kenya , East Africa s largest economy, plans to rebase its gross domestic product data to better reflect growing industries, said Zachary Mwangi, director general of the countrys statistics bureau. Kenyas announcement follows Nigeria s recalculation of its economic output, announced last week, which increased the countrys official figure for gross domestic product by about three-quarters to almost $500 billion, making it Africas biggest economy.
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Tagged under gross domestic product, banking services topics.