NGR's GDP grows 5.01% YoY in 2Q (1Q: +0.51%)
This publication provides data on Quarterly Gross Domestic Product (GDP) estimates for the four quarters of 2020, the annual figure for 2020, the first quarter of 2021 as well as the second quarter of 2021 which is the main focus.
Quarterly National Accounts (QNA) are integrated system of macroeconomic accounts designed to describe the entire system of production in a nation on a quarterly basis. They provide a picture of the current economic status of the economy that is timelier and more frequent than that provided by Annual National Accounts (ANA). The key attribute of QNA is that they provide a reasonable level of detail of the economy that help government to assess, analyse, and monitor economic growth on a regular basis.
QNA adopts the same concepts, definitions and structure as ANA. In principle QNA covers the entire sequence of accounts and balance sheets as reflected in the 2008 System of National Accounts (2008 SNA).
Data for this analysis were obtained from the Quarterly Establishment Survey (QES) conducted by the National Bureau of Statistics (NBS). This series covers major aggregates of quarterly GDP by kind of economic activities at current and constant (2010) prices.
We are grateful to the various agencies and establishments that made their data available as input to the estimates.