Nigeria GDP Annual Growth Rate  1982-2017 | Data | Chart | Calendar

The Nigerian economy advanced 0.55 percent year-on-year in the second quarter of 2017, after shrinking an upwardly revised 0.91 percent in the previous period. It is the first expansion in five quarters as the oil sector rebounded. GDP Annual Growth Rate in Nigeria averaged 3.93 percent from 1982 until 2017, reaching an all time high of 19.17 percent in the fourth quarter of 2004 and a record low of -7.81 percent in the fourth quarter of 1983.

Nigeria GDP Annual Growth Rate
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Nigeria Returns to Growth in Q2


The Nigerian economy advanced 0.55 percent year-on-year in the second quarter of 2017, after shrinking an upwardly revised 0.91 percent in the previous period. It is the first expansion in five quarters as the oil sector rebounded.

The oil sector went up 1.64 percent year-on-year, the first expansion since the third quarter of 2015, following an upwardly revised 15.60 percent drop in the previous period. The country produced 1.84 million barrels of crude oil per day, up from 1.81 mbpd a year earlier. As a result, the oil sector accounted for 8.89 percent of GDP compared to 8.79 percent a year earlier.

The non-oil sector advanced 0.45 percent, easing from a 0.73 percent increase in the previous period. Output growth slowed for: manufacturing (0.64 percent vs 1.36 percent in Q1); construction (0.13 percent vs 0.15 percent); water supply, sewerage, waste management and remediation (3.45 percent vs 12.63 percent) and agriculture (3.01 percent vs 3.39 percent). In addition, production declined for: transport (-6.18 percent vs 10.55 percent); trade (-1.62 percent vs -3.08 percent); accomodation and food services (-4.05 percent vs -3.96 percent); information an communication (-1.15 percent vs 2.73 percent); arts, entertainment and culture (-0.62 percent vs 11.67 percent) and real estate activities (-3.53 percent vs -3.10 percent).

In contrast, electricity, gas, steam and air conditioning (35.50 percent vs -5.04 percent) and public administration (1.63 percent vs -2.07 percent) recovered, while finance and insurance rose sharply (10.45 percent vs 0.67 percent).

On a quarterly basis, the economy expanded 3.23 percent.

National Bureau of Statistics | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/5/2017 11:50:39 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-02-28 08:05 AM GDP Growth Rate YoY -1.3% -2.24% -1.1%
2017-05-23 09:00 AM GDP Growth Rate YoY -0.5% -1.7% 0.4%
2017-09-05 08:00 AM GDP Growth Rate YoY 0.55% -0.91% 1.55% 1.3%
2017-11-20 09:00 AM GDP Growth Rate YoY 0.55% 2.5%


Nigeria GDP Last Previous Highest Lowest Unit
GDP Growth Rate 3.23 -13.26 10.59 -13.98 percent [+]
GDP Annual Growth Rate 0.55 -0.91 19.17 -7.81 percent [+]
GDP 405.10 481.10 568.50 4.20 USD Billion [+]
GDP Constant Prices 16450432.89 15919656.99 18745360.19 56260.04 NGN Million [+]
Gross Fixed Capital Formation 2380379.81 2129446.84 2873296.49 17236.65 NGN Million [+]
GDP per capita 2457.80 2562.50 2563.10 1089.10 USD [+]
GDP per capita PPP 5438.90 5670.60 5671.90 2750.10 USD [+]
GDP From Agriculture 3745091.59 3385600.83 5035069.06 2594759.86 NGN Million [+]
GDP From Construction 694618.72 660920.64 740204.22 369190.91 NGN Million [+]
GDP From Manufacturing 1529172.70 1543187.49 1718985.30 875408.17 NGN Million [+]
GDP From Mining 2376109.16 2141964.14 3083257.13 887489.93 NGN Million [+]
GDP From Public Administration 400889.27 364765.95 614330.87 364765.95 NGN Millions [+]
GDP From Services 6076676.80 6031847.57 7087965.28 4564086.31 NGN Millions [+]
GDP From Transport 177693.89 211047.14 229523.14 144848.60 NGN Millions [+]
GDP From Utilities 102660.20 56502.08 114401.69 51342.43 NGN Million [+]


Nigeria GDP Annual Growth Rate

Nigeria is one of the most developed countries in Africa. Services is the largest sector of the economy, accounting for about 50 percent of total GDP. One of the fastest growing segments in Services are Information and Communication, which together account for about 10 percent of the total output. Agriculture, which in the past was the biggest sector, now weights around 23 percent. Crude Petroleum and Natural Gas constitute only 11 percent of total GDP, while being the main exports. Industry and Construction account for the remaining 16 percent of GDP. This page provides - Nigeria GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on November of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.55 -0.91 19.17 -7.81 1982 - 2017 percent Quarterly
Constant 2010 Prices




GDP annual growth rate by Country
Country Last
China 6.80 Sep/17
India 5.70 Jun/17
Turkey 5.10 Jun/17
Indonesia 5.06 Sep/17
Canada 3.70 Jun/17
South Korea 3.60 Sep/17
Spain 3.10 Sep/17
Netherlands 3.00 Sep/17
Germany 2.80 Sep/17
Euro Area 2.50 Sep/17
United States 2.30 Sep/17
France 2.20 Sep/17
Australia 1.80 Jun/17
Italy 1.80 Sep/17
Russia 1.80 Sep/17
Japan 1.70 Sep/17
Mexico 1.60 Sep/17
United Kingdom 1.50 Sep/17
Brazil 0.30 Jun/17
Switzerland 0.30 Jun/17