Other Services real GDP grew by -2.67% (year-on-year) in Q3 2022. This growth was lower by 3.40% points than the growth recorded in the same period of the previous year, and lower by 5.72% points from Q2 2022.
Nominal GDP growth of the Manufacturing sector in the third quarter of 2022 was recorded at 2.20% (year-on-year), 30.53% points lower than the figure recorded in the corresponding period of 2021 (32.73%) and 3.01% points lower than the preceding quarter figure of 5.21%.
In real terms, the Public Administration sector recorded a growth rate of 2.33% (year-on-year) in Q3 2022, higher by 2.47% points and higher by 0.32% points from the Q3 2021 rate and the Q2 2022 rate respectively. On Quarter-on-Quarter, the sector grew by 3.62% in Q3 2022.
Nominal growth in the Education sector in the third quarter of 2022 was 5.31% (year-on-year), down by 2.44% points from the growth of 7.75% reported in the corresponding quarter of 2021, and down by 0.91% points when compared to Q2 2022 growth rate of 6.23%.
Quarter-on-Quarter growth stood at 46.07% in the third quarter of 2022. Agriculture contributed 27.55% to nominal GDP in the third quarter of 2022. This figure was higher than the rate recorded for the third quarter of 2021 and higher than the second quarter of 2022 which recorded 26.57% and 21.90% respectively.
The non-oil sector grew by 4.27% in real terms during the reference quarter (Q3 2022). This rate was lower by 1.18% points compared to the rate recorded same quarter of 2021 and 0.50% points lower than the second quarter of 2022.
In the third quarter of 2022, Nigeria recorded an average daily oil production of 1.20 million barrels per day (mbpd), lower than the daily average production of 1.57mbpd recorded in the same quarter of 2021 by 0.37mbpd and lower than the second quarter of 2022 production volume of 1.43 mbpd by 0.24mbpd.
The total value of capital importation into Nigeria in the first quarter of 2022 stood at US$1,573.14 million from US$2,187.63 million in the preceding quarter showing a decrease of 28.09%. When compared to the corresponding quarter of 2021, capital importation decreased by 17.46% from US$1,905.89 million.
National Bureau of Statistics.
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