Nigerian Gross Domestic Product Report (Expenditure and Income Approach) Q3 2016
1. In real terms, market price GDP declined year on year by 2.4% in the third quarter of 2016, which was the lowest year on year growth rate in the rebased period (2010 onwards).
2. In the third quarter, all components recorded year on year declines in real terms other than Changes in Inventories and Exports.
3. National Disposable Income recorded stronger growth than GDP in the third quarter of 2016, both in real and nominal terms. This was largely as a result of Other Current Transfers (net) which increased substantially year on year.
4. Year on year growth in domestic Compensation of Employees was sill negative, but recovered significantly relative to the rate in the previous quarter, which was the lowest on record.
Data source: National Bureau of Statistics