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Home Economy Macro-Economic News GDP

Latest Nigeria Real GDP Growth Rate (Updated 2018 Q2)

Research Team by Research Team
August 30, 2018
in GDP, Macro-Economic News
Nigerian Bustop Photo by Dami Akinbode on Unsplash

Nigerian Bustop Photo by Dami Akinbode on Unsplash

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Nigeria’s Real Gross Domestic Product (GDP) growth rate for the quarter ending June 2018 was 1.50%. This compares to a real GDP growth rate of 1.95% for the immediate past quarter ended March 2018.

This is according to data recently published by the National Bureau of Statistics.

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About Real GDP

Real GDP Growth rate represents the growth in the total value of goods and services produced by a country after adjusting for inflation. A positive Real GDP Growth rate indicates that an economy is growing faster than its inflation rate.

Countries with consecutive quarters of negative Real GDP Growth rate are said to be in recession.

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