GDP by Income and Expenditure Approach – Basic Price GDP Declined by 1.73% Real Term in Q4’16

Household Final Consumption Expenditure:

This consists of expenditure, including imputed expenditure, incurred by resident households on individual consumption goods and services. This is calculated as a residual.

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 Not-for-Profit-Institutions-Serving-Households, which consist of organisations such as charities and non-government organisations.

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, from 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.

Growth in Consumption Components in 2016

Real

Nominal

Q3

 Q4

Q3

 Q4

Y on Y

Households

-2.39

-14.59

14.74

12.54

NPISH

-6.90

-3.18

9.43

12.83

Government

-19.56

-17.83

-5.45

-4.25

            individual

-10.68

8.22

-9.77

-2.02

            collective

-23.90

-28.62

-3.94

-4.96

Q on Q

Households

14.58

-7.19

21.39

4.45

NPISH

38.38

24.08

44.34

29.42

Government

-3.49

6.54

0.66

11.12

            individual

11.38

12.76

1.22

11.21

            collective

-10.35

2.97

0.48

11.09