Nigerian Gross Domestic Product Report 2017
In 2017, real GDP turned to positive growth in the second quarter and sustained its acceleration on a yearon-year basis. Annual real GDP growth rate in 2017 was recorded at 0.82%, signifying economic recovery when compared to –1.58% in 2016.
· Real Household Consumption and Government Consumption Expenditures generally declined in 2017 at –0.99% but improved compared to 2016 (-5.71%). Domestic demand was still weak.
· Net Exports grew significantly in real terms in 2017, which was mainly driven by the strong performance in the third quarter. However, this was slower than 2016 (22%).
· National Disposable Income declined by 1.52% in 2017, majorly due to the continuous decline in the largest component— Operating Surplus which recorded a negative annual growth rate, of –2.11%.
Data source: National Bureau of Statistics