Nigeria’s GDP records decrease in Q3 and Q4 2016

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The National Bureau of Statistics ( NBS ) says the Gross Domestic Product( GDP ) in genuine terms dellined in the third and fourth quarters of 2016.

The NBS made this known in its “Nigerian Gross Domestic Product( GDP ) Report on Expenditure and Income Approach for the third and fourth quarter of 2016 discharged in Abuja.

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As indicated by the report, the decay took after the negative development drift from the first half of 2016.

It clarified that the family unit utilization and government utilization consumptions prompted the diminishing in GDP in both the third and fourth quarter of the year under survey.

The bureau, however, expressed that a solid recuperation in development in net export, especially in the fourth quarter stemmed the decrease.

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As per the report, the National Disposable Income recorded a solid development in contrast with the GDP in the second 50% of 2016 in genuine terms.

This it said was incompletely because of increments in other net transfers from whatever remains of the World .

The report expressed that Year on Year development in Domestic Compensation of Employees in genuine terms declined.

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The agency additionally said that the working surplus declined in the third and fourth quarters however developed generally speaking in genuine terms in 2016.


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