Nigeria Real GDP Growth
The Gross Domestic Product (GDP) in Nigeria contracted 3.6 % YoY in Sep 2020, following a negative growth of 6.1 % in the previous quarter. Real GDP Growth YoY data in Nigeria is updated quarterly, available from Mar 2011 to Sep 2020, with an average rate of 2.4 %. The data reached an all-time high of 6.9 % in Mar 2011 and a record low of -6.1 % in Jun 2020. CEIC calculates Real GDP Growth from quarterly Real GDP. The National Bureau of Statistics of the Federal Republic of Nigeria provides Real GDP in local currency, at basic 2010 prices.
In the latest reports, Nominal GDP of Nigeria reached 105.0 USD bn in Sep 2020. Its GDP deflator (implicit price deflator) increased 3.5 % in Jun 2020. GDP Per Capita in Nigeria reached 2,341.9 USD in Dec 2019. Its Gross Savings Rate was measured at 20.6 % in Dec 2019.
View Nigeria's Real GDP Growth from Mar 2011 to Sep 2020 in the chart:
What was Nigeria's Real GDP Growth in Sep 2020?
| Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|
| -3.6 Sep 2020 | -6.1 Jun 2020 | -6.1 Jun 2020 | 6.9 Mar 2011 | % | quarterly | Mar 2011 - Sep 2020 |
Real GDP Growth by Country Comparison
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| country/region | Last | Frequency | Range |
|---|---|---|---|
| Albania (%) | -11.0 Jun 2020 | quarterly | Mar 2010 - Jun 2020 |
| Algeria (%) | -3.9 Mar 2020 | quarterly | Mar 2012 - Mar 2020 |
| Argentina (%) | -19.8 Jun 2020 | quarterly | Mar 2005 - Jun 2020 |
| Armenia (%) | -9.1 Sep 2020 | quarterly | Mar 2001 - Sep 2020 |
| Australia (%) | -6.3 Jun 2020 | quarterly | Sep 1960 - Jun 2020 |
| Austria (%) | -14.5 Jun 2020 | quarterly | Mar 1989 - Jun 2020 |
| Azerbaijan (%) | 0.2 Mar 2020 | quarterly | Mar 2001 - Mar 2020 |
| Bahrain (%) | -8.9 Jun 2020 | quarterly | Mar 2009 - Jun 2020 |
| Bangladesh (%) | 5.2 2020 | yearly | 2007 - 2020 |
| Belarus (%) | -3.3 Jun 2020 | quarterly | Mar 2006 - Jun 2020 |
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| Government and Public Finance | Last | Frequency | Range |
|---|---|---|---|
| Consolidated Fiscal Balance: % of GDP (%) | -3.2 Mar 2020 | quarterly | Dec 2010 - Mar 2020 |
| Consolidated Fiscal Balance (USD mn) | -4,673.639 Mar 2020 | quarterly | Mar 2005 - Mar 2020 |
| National Government Debt (USD mn) | 73,740.7 Sep 2020 | quarterly | Dec 2006 - Sep 2020 |
| Government Debt: % of GDP (%) | 18.2 Jun 2020 | quarterly | Dec 2010 - Jun 2020 |
| Forecast: Government Expenditure (NGN bn) | 34,920.128 2025 | yearly | 1990 - 2025 |
| Forecast: Government Net Debt (NGN bn) | 109,473.696 2025 | yearly | 1990 - 2025 |
| Forecast: Government Revenue (NGN bn) | 21,509.034 2025 | yearly | 1990 - 2025 |
| Gross Federation Account Revenue (NGN bn) | 2,268.700 Sep 2020 | quarterly | Mar 2005 - Sep 2020 |
| Federal Govt Balance (NGN bn) | -1,289.030 Sep 2020 | quarterly | Mar 2005 - Sep 2020 |
| Gross Federation Account Revenue: Oil (NGN bn) | 953.900 Sep 2020 | quarterly | Mar 2005 - Sep 2020 |
| Federal Govt Revenue (NGN bn) | 842.090 Sep 2020 | quarterly | Mar 2005 - Sep 2020 |
| Federal Govt Expenditure (NGN bn) | 2,131.120 Sep 2020 | quarterly | Mar 2005 - Sep 2020 |
| Federal Govt Expenditure: Recurrent (NGN bn) | 1,650.430 Sep 2020 | quarterly | Mar 2005 - Sep 2020 |
| Government Debt: Domestic (NGN bn) | 15,846.231 Sep 2020 | quarterly | Dec 2005 - Sep 2020 |
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