Real GDP Growth | Data | chart | Visual



Period Agriculture Manufacturing Information & Communication Finance & Insurance Real Estate
Aug 2020 2.36 0.77 11.08 2.56 -2.36
Aug 2020 2.12 2.09 9.65 2.03 -4.74
Aug 2020 3.45 -0.21 -1.04 1.26 -4.27
Aug 2020 4.11 -4.32 1.95 -4.54 -6.86
Aug 2020 3.72 -1.46 6.22 7.12 2.11




Insight

In 2019, Nigeria’s GDP grew by 2.27% in 2019. The value was up by 1.09% points when compared to 1.91% recorded in 2018. Meanwhile, comparing the 2019 growth to the negative growth of -1.62% slump of 2016, it implies a 3.89% point increase in the nation’s economy.

Nigeria’s economy has witnessed a cyclical trend. Specifically, in 2015, GDP grew by 6.31%, a height the economy has struggled to replicate. However, in 2016, Nigeria’s GDP contracted, posting 2.65% growth, which implies a contraction of 3.66% within the year. In 2016, GDP posted a negative growth rate of -1.62%, the first time the economy posted negative growth since 1995. When GDP recorded growth rate of -0.07%.

 

 

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