Nigeria Economic Chart Park

Real GDP Growth Rate

Real GDP Growth Rate (%) at 1990 Base (y/y)

Last recession in 2004Q1, recovery in 2004Q3

Real GDP Growth Rate (%) at 2010 Base (y/y)

Current recession in 2016Q2, recovery?

On average, Nigerias GDP growth rate has averaged about 5 percent; attaining an unusual trough of nearly -10 percent in 2003Q4 and a peak of nearly 20 percent in 2004Q4. However, the Nigerian economy recently slipped into a recession recording a negative GDP growth rate of -0.36 in 2016Q1 and -2.06 in 2016Q2. This is attributable to prolonged low crude oil price and production shortages and the attendant foreign exchange (FOREX) scarcity.




Related

 

Capital Importation And Budgetary Allocation (Transport Sector)

Capital Importation: Since the dramatic decline in 2013, private and government sector investments in the sector have remained low in 2016. Budgetary Allocation: Budgetary allocations to the transpo

Capital Importation And Budgetary Allocation (Oil And Gas)

Capital Importation: Investment in the oil and gas sector has remained low since 2009. However, investments into the sector fell more deeply in 2015, on the account of persistent global and domestic c

Business Confidence Index

Business Confidence Index: After its peak in 2011, business confidence fell sizeably in 2012 as well as 2015Q2. Most recently, BCI has declined to a negative levels in 2016Q1 and Q2. The recent declin

Real GDP Growth Rate- Nigeria And Selected African Economies

Real GDP Growth Rate- Nigeria and selected African Economies: While GDP growth in selected African economies have generally declined at different magnitudes with the slump in commodity prices, other e