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GDP By Income and Expenditure Approach – Basic Price GDP Declines by 2.3% in Q3’16 - NBS

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Wednesday, June 21, 2017 10:00 AM /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; this is 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 chapter. 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 chapter. 

Basic price GDP declined by 2.3% in real terms in the third quarter of 2016,, considerably lower than the declines of 0.7% and 1.5% in the first and second quarter respectively.  Market price GDP declined even more, by 2.4%, as a result of slower growth in net taxes on products of 5.0%. 

Household Final Consumption Expenditure
This consists of expenditure, including imputed expenditure, incurred by resident households on individual consumption goods and services. 

General Government Final Consumption Expenditure
This consists of expenditure, including imputed expenditure, incurred by government at all levels on both individual and collective consumption goods and services. Individual consumption items are those that are provided to individual households, such as education and health services. Collective consumption items relate to goods and services utilised by society as a whole, such as security and infrastructure. 

Not for Profit Institutions Serving Households Final Consumption Expenditure
This consists of expenditure, including imputed expenditure, incurred by government at all levels on both individual and collective consumption goods and services. Individual consumption items are those that are provided to individual households, such as education and health services. 

Gross Fixed Capital Formation
This is measured as the total value of producer’s acquisitions, less disposals, of fixed assets during the accounting period, plus certain additions to the value of non-produced assets (such as improvements to natural assets) realised by the productive activity of institutional units. 

Change in Inventories
is the consist of changes in; stocks of outputs that are still held by units that produced them prior to their being further processed , sold, delivered to other units or used in other ways, measure by the value of the entries into inventories less the value of withdrawals and the value of any recurrent losses of goods held in inventories.

Exports of Goods and Services
Consists of sales of goods and services to residents abroad, to residents within Nigeria.

Imports of Goods and Services
Consists of sales of goods and services from residents abroad, to residents within Nigeria.

Consumption of Fixed Capital
This represents the reduction in value of the fixed assets used in production during the period, that results from physical deterioration, normal obsolescence or normal accidental damage. 

Click Here to Download Q3’16 GDP By Income and Expenditure Approach (PDF) Report

 

 

 

 

 

 

 

Latest 2017 NBS Reports  

Q2 2017

1.       Average Price Watch of PMS, AGO, HHK and Cooking Gas - May 2017

2.    Average Intercity Transport Fare Decreases to N1,5865. in May’17 from N1,587.04 in Apr’17

3.      Average Price Of 1kg Of Yam Tuber Increased YoY by 52.69% in May 2017 - NBS

4.      CPI Drops to 16.25% in May 2017, 0.99% Lower Than 17.24% April Rate

5.      N204.77bn Generated as VAT in Q1 2017 - NBS

6.      125,790 Cases of Reported Offences Recorded in 2016 - NBS

7.      Labour Productivity Rose to N684.43 in 2016 - NBS

8.     Merchandise Trade Grew By 0.1% - Positive Trade Balance Due to Rising Exports & Falling Imports

9.      Unemployment Rate Rises to 14.2% in Q4’16 from 13.9% in Q3’16 - NBS

10.  Lagos Airport Accounted for 76.5% of International Passengers in Q1 2017 - NBS

11.   FAAC Disburses N496.39bn in April 2017 - NBS

12.  Banking Sector Records 304.31 mln Volume of Transaction in Q1 2017 - NBS

13.  Total Value of Capital Imported into Nigeria in Q1 2017 Estimated at $908.27m - NBS

14.  GDP Contracts by -0.52% in Q1’17 from -1.73% in Q4’16; 5th Consecutive Quarter of Contraction

15.   Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch – April 2017

16.  Average Intercity Transport Fare Increases to N1,587.04 in Apr’17 from N1,466.46 in Mar’17

17.   Average Prices of 1kg of Yam Tubber Increased by 42.45% YoY in April 2017

18.  CPI Drops to 17.24% in April 2017, 0.02% Lower Than 17.26% March Rate

19.  Lagos, Rivers Top IGR for Full Year 2016

20. Telecoms Subscribers Dropped by 1.33% in Q1 2017 - NBS

21.  Nigeria Imports 4.05bn Litres of PMS in Q1 2017 - NBS

22. Lagos State has the highest domestic and foreign debt profile in 2016 - NBS

23. 2,556 Road Traffic Crashes Recorded in Q1 2017 - NBS

24. FAAC Disburses N466.93bn in March 2017

25.  Daily Energy Generation Attained a Peak of 5,846 MW in Q1 2017 - NBS

26. Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch - March 2017

27.  Average Intercity Transport Fare Increases to N1,466.46 in Mar’17 from N1,411.87 in Feb’17

28. Average Prices of 1kg of Yam Tubber Increased by 63.4% YoY in March 2017

29. CPI Drops to 17.26% in March 2017, 0.52% Lower Than 17.78% February Rate

30. 7.49m Nigerians Are Registered Under the National Pension Scheme As At Q1 2017 - NBS

31.  Lagos Airport Accounted for 69.1% of International Passengers in 2016 - NBS

Q1 2017

32. 11,363 Road Traffic Crashes Recorded in 2016 - NBS

33. FAAC Disburses N514.15bn in February 2017

34. FAAC Disburses N430.16bn in January 2017

35.  Average Intercity Transport Fare Decreases to N1,411.87 in Feb’17 from N1430.63 in Jan’17

36. Average Price of 1kg of Rice Increased by 68% YoY in February 2017

37.  Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch - February 2017

38. CPI Drops to 17.78% in February 2017, 0.94% Lower Than 18.72% January Rate

39. Nigeria Produced 43.49m Tons of Solid Minerals in 2016 - NBS

40. NIPOST Generates N8.84bn Revenue in 2016 - NBS

41.  Q4 2016 Merchandise Trade Intensity - Total Trade Grows by 6.5% in 2016

42. Merchandise Trade Grows in Q4 2016 - Records First Quarterly Positive Trade Balance Since Q4 2015

43. GDP Contracts by -1.30% in Q4 and -1.51% for Full Year 2016; Is Nigeria on Its Way Out of Recession?

44. JAMB Received 11.7m Applications Between 2010 and 2016

45.  Average Kerosene Price Increases to N433.84 in Jan'17 from N231.85 in Dec'16

46. Average Intracity Transport Fare Increases to N122 in Jan'17 from N84.29 in Dec'16

47.  Average Cooking Gas Price Increases to N2,567.56 in Jan’17 from N2,002.16 in Dec’16

48. Average Diesel Price Increases to N240.52 in Jan’17 from N196.20 in Dec’16

49. Average Petrol Price Increases to N148.7 in Jan'17 from N146.7 in Dec'16

50. CPI Rises to 18.72% in January 2017, 0.17% Higher Than 18.55% December 2016 Rate

51.   GENCOs Issued Total Invoice of N331bn to DISCOs in 2016

52.  Nigeria Produced 5.79 mln Tonnes of Fish Between 2010 and 2015

53.  4,296 Applications Were Received by NAFDAC for New Products Registration in 2016 - NBS

54.  19,833 Vessels Berthed At Nigerian Ports Between 2013 and 2016 - NBS

55.  Total Value of Capital Imported into Nigeria in Q4 2016 Estimated at $1,548.88mln - NBS

56.  Telecoms Sector Contributes N1,399bn to GDP in Q3 2016 - NBS

57.  FAAC Disburses N426.88bn in December 2016 - NBS

58. Banking Sector Records 910.18m Volume of Transaction in 2016 on Electronic Payment Channels - NBS

59.  Daily Energy Generation Attained a Peak of 3,859.59MW in Q4 2016 - NBS

60. 10.8% of Nigeria's Total Working Population Are Registered Under The National Pension Scheme - NBS

61.  Nigeria Imports 4.83 bn Litres of PMS in Q4 2016 - NBS

62. 72.53% of Nigeria’s Prison Population in 2015 were Un-sentenced - NBS

63. Lagos, Ogun Top IGR for H1 2016

 

 

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