Gross Domestic Product And Contribution To GDP
Real GDP at 1990 Base Year
GDP growth in agric. sector relatively flat post-2004
Real GDP at 2010 Base Year
GDP growth in the agric. sector picks up in 2016Q1
Gross Domestic Product: Agriculture Gross Domestic Product growth rate recorded its highest point in 2006Q1 but fell sharply subsequently. Particularly, the slow growth recorded in 2015 and 2016Q1 is attributable to security challenges in the North Eastern part of Nigeria and slowdown of economic activities in the country.
Contribution to GDP: The agricultural sector contributed about 40 percent to overall GDP until the rebasing of the GDP in 2012 bringing the contribution of the agricultural sector below 30 percent. While the agricultural sector remains the second contributor to GDP, its contribution to GDP fell in 2016Q1 is attributable to the seasonal nature of farming.
Capital Importation: Foreign investment into the agricultural sector was relatively flat between 2007 and 2012 but gained unusual momentum in September 2015. The spike in 2015 is likely driven by the
External Reserve: External reserve picked up from its year-2000 level below $10,000 million to above $60,000 million in 2008. However, the external reserve fell deeply in 2010/11 and even further in 2
Capital Importation: Capital expenditure into the construction sector remained above 10 percent since 2005 until 2015. Similar to the manufacturing sector, overall capital imported into the constructi
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