Nigerian Gross Domestic Product Report (Expenditure and Income approach) Q1, Q2 2016

Nigerian Gross Domestic Product Report (Expenditure and Income approach) Q1, Q2 2016

  •  In real terms, market price GDP declined year on year by 0.42%, and 2.22% in the first and second quarters of 2016, the first two negative growth rates in the rebased period (2010 onwards). 
  • In the first quarter, all components recorded a year on year fall other than NPISH and Net exports. In the second, a large fall in household consumption was the main driver of the decline in GDP.
  • National Disposable Income recorded stronger growth than GDP in the first half of 2016, both in real and nominal terms. In real terms, it was largely as a result of an increase in “other net transfers from the rest of the world”.
  • Year on year growth in domestic Compensation of Employees declined significantly in both real and nominal terms. Operating surplus growth remained positive, but lower than in recent years.

Data source: National Bureau of Statistics

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