Nigeria GDP Expands 7.67% in Q4 2013


According to Nigeria National Bureau of Statistics estimates, the country’s GDP advanced 7.67 percent year-on-year in the last quarter of 2013, higher than the revised figure of 6.81 and 6.99 percent recorded in the third quarter and the corresponding period of 2012, respectively. For 2013, growth rate was estimated at 6.87 percent, up from 6.58 percent in 2012.

The non-oil sector remained the major driver of growth, recording 8.73 per cent in the fourth quarter of 2013. The growth drivers in the non-oil sector remained agriculture; wholesale and retail trade; and services which contributed 1.64, 2.34, and 2.66 percent, respectively. 

The relatively robust growth performance despite sluggish global recovery reflected the continuing favorable climatic conditions for increased agricultural production, sustained outcome of banking sector reforms and macroeconomic stability.  

Nigeria GDP Expands 7.67% in Q4 2013


Central Bank of Nigeria | Joana Taborda | joana.taborda@tradingeconomics.com
1/22/2014 3:23:22 PM