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.
National Bureau of Statistics.
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