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Nigeria real GDPNigeria real GDPNigeria real GDP

Nigeria real GDP

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Key data points


Last release
—
Observation period
Q3 2024
Next release
—
Forecast
—
Highest
‪21.77 T‬ NGN on Dec 31, 2023
Lowest
‪12.58 T‬ NGN on Mar 31, 2010

About Nigeria real GDP


Category
GDP
Source
National Bureau of Statistics
Frequency
Quarterly
Units
NGN

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Full Year GDP Growth
NGGDP
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GDP From Agriculture
NGGDPC
GDP From Construction
NGGDPMAN
GDP From Manufacturing
NGGDPMIN
GDP From Mining
NGGDPPA
GDP From Public Administration
NGGDPPC
GDP Per Capita
NGGDPPCP
GDP Per Capita PPP
NGGDPQQ
GDP Growth Rate
NGGDPS
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NGGDPT
GDP From Transport
NGGDPU
GDP From Utilities
NGGDPYY
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NGGFCF
Gross Fixed Capital Formation

Frequently Asked Questions


Real GDP is calculated using a GDP price deflator, which is the difference in prices between the current year and the base year. Then nominal GDP (GDP adjusted for inflation) is divided by this deflator, yielding real GDP. Nominal GDP is usually higher than real GDP because inflation is typically a positive number.
Since GDP measures an economy's output, it is subject to inflationary pressure. So real GDP is a measure of an economy's output adjusted for inflation.
Last quarter Nigeria real GDP was 20.12 T NGN, and the quarter before that it reached 18.29 T NGN.