Uses Of National Income Statistics In Kenya

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In kenya,the national income statistics is charged with the following responsibilities of ensuring that the income benerated by the public is put to good use and that it will not have a negative impact on the lives of kenyans.Therefore from the above,the following are some of the major uses of the natinal income statistics in the country.

Economic Planning

It helps the government in conomic planning by simply outlining the more productive areas as well as showing the ones that perormed the worst.The body helps to manage this by showing the major trends in consumption of the products.

Measures the living standards of people

Improvement in the national income of the public shows high rates of economic growth in the country hence one should use it to show some trends of growth by the of life displayed by people in the country.It is of mutual benefit to the government and the citizens in general.

Assessing the performance of economy overtime

The process is achieved by using the number of periods used to obtain the results of a particluar place.The performance in seasons is then compared and the data obtained will determine what period was unprofitable to the government in order for them to make the needed challenges.

Investment desicion making

provides investors with numerous opportunities of getting the needed information about the common market trends that is crucial in saving the time used in cost carrying the market research of a place.

Comparing the economic performance of kenya with other countries

A country with a high national income will be said to be perfroming better than the ones that lack.The kenyan government uses the above income to check and ompare how kenya is with regard to other nations.

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