Nigeria Economy | |
Nigeria Economy | |
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Monday, February 25, 2019 07:20 PM / NBS
GDP By Expenditure
The Gross Domestic Product (GDP) can be derived as the value of all goods and services available for final uses and export. GDP at market prices includes net taxes on products; taxes are subtracted to obtain basic price GDP.
The expenditure approach measures the final uses of the produced output as the sum of Final consumption, Gross Capital Formation and Exports less Imports, which are considered in turn in this report. Consumption of fixed capital—a measure of depreciation of assets—comprises the difference between Gross Domestic Product (GDP) and Net Domestic Product (NDP) and is also considered in this report.
Basic price GDP grew in real terms by 0.82% year-on-year in 2017. This was a significant improvement compared to a decline of -1.58% decline in real GDP growth rate in 2016.
Household Final Consumption
Household final consumption in real terms in Q1 2018 quarter grew by –0.25% compared to the corresponding quarter in 2017 where it grew by 5.41%. This implies a decline of 5.66% points. In the second quarter, consumption grew by 0.78% compared to 0.97% in the previous year, implying that consumption growth slowed by 0.20% points from Q2 2017. On a quarter on quarter basis, the second quarter of 2018 was an improvement over the first, as growth was recorded at 4.55% compared to –11.44%.
In nominal terms, household final consumption grew by 7.65% in the first quarter of 2018. This growth was lower than the 11.11% recorded in Q1 of 2017. In the second quarter of 2018, growth was slower than recorded in the corresponding quarter of 2017 by 13.02% points. Compared to 2017, the relatively subdued growth in household consumption reflects prevailing pressure on households’ purchasing power during the period.
Household final consumption component accounted for 60.1% and 61.1% of
real GDP in 2018 Q1 and Q2 respectively.
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Here to Download Q1 and Q2 2018 GDP By Expenditure PDF Report
Latest 2019 NBS Reports
Q1 2019
1.
1.67m
Customers Metered As At Q4 2018 - NBS
2.
N298.01bn
Generated as VAT in Q4 2018 - NBS
3.
Total
Value of Credit Allocated By Banks Stood At N15.13trn As At Q4 2018 - NBS
4.
Average Price of
1kg of Tomato Decreased By 2.39% YoY To N265.49 in January 2019 - NBS
5.
FAAC
Disburses N649.19bn in January 2019
6.
Average
Intercity Bus Fare Decreased By -13.90% MoM To N1,541.38 in January 2019
7.
Headline
Inflation Increases By 11.37% YoY in January 2019; 0.07% Lower Than December
2018 Rate
8.
Average
Prices of PMS, AGO, HHK and Cooking Gas – January 2019
9.
Total
Value of Capital Importation into Nigeria Stood at $16,812.47m in 2018 – NBS
10. Nigeria’s
GDP Grew By 2.38% YoY in Real Terms in Q4 2018 and 1.93% in Full Year
11.
828,502
Employees Employed By 1,110 Registered Private Guard Companies in 2018 - NBS
12. States
Generate N264.38bn as IGR in Q3 2018 - NBS
13. NBS
Publishes Drug Use in Nigeria 2018 Survey Report
14. FAAC
Disburses N3.19trn To FG in 2018 - NBS
15.
FAAC
Disburses N2.38trn To FG in 2017 - NBS
16. FAAC
Disburses N812.76bn in December 2018 - NBS
17.
Average
Price of 1kg of Tomato Decreased By -7.76% MoM To N294.36
18. Average
Within City Bus Journey Fare Decreased By -5.64% MoM To N181.61
19. Headline
Inflation Increases By 11.44% YoY in December 2018; 0.16% Higher Than November
2018 Rate
20. Average
Prices of PMS, AGO, HHK and Cooking Gas – December 2018