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Home Spotlight

GDP: Information and Communication sector grows by 5.5% in Q2 2021

Janet John by Janet John
August 26, 2021
in Spotlight, Tech News
Information and Communication sector
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According to the Gross Domestic Product Report, released by the National Bureau of Statistics (NBS) on Thursday, the information and communication sector grew by 5.5% in Q2 2021 from 6.31% in Q1 2020 and 16.52% in Q2 2020.

The Information and Communication sector is composed of the four activities of Telecommunications and Information Services; Publishing; Motion Picture, Sound Recording, and Music Production; and Broadcasting.

In nominal terms, the sector’s growth stood at -0.07% (year-on-year), a 1.08% point increase compared to the rate of -1.15% recorded in the corresponding quarter of 2020, but -7.93% points lower than the rate recorded in the preceding quarter.

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Of total real GDP, the sector contributed 17.92% in the second quarter of 2021, slightly higher than in the same quarter of the previous year in which it represented 17.83% and the preceding quarter in which it represented 14.91%.

Key highlights

  • Telecommunications & Information Services grew by 5.90% in Q1 2021 from 7.69% in Q1 2021 and 18.10% in Q2 2020.
  • Publishing under Information and Communication grew by 2.39% in Q2 2021 from 1.45% decline in Q1 202 and -18.35% in Q2 2020.
  • Motion Pictures, Sound recording, and Music production grew by 5.02% in Q2 2021 from 2.21% in Q1 2021 and -4.60% in Q2 2020.
  • Broadcasting grew by 3.84% in Q2 2021 from 2.45% in Q1 2021 and 8.78% in Q2 2020.
  • The sector also contributed 12.22% to total Nominal GDP, lower than 14.06% recorded in the same quarter of 2020 but higher than the 9.91% contributed in the preceding quarter.
  • While the sector contributed 17.92% in real terms in the second quarter of 2021, slightly higher than in the same quarter of the previous year in which it represented 17.83% and the preceding quarter in which it represented 14.91%.
Tags: Communication sectorInformation sectorNational Bureau of Statistics (NBS)Nigeria GDP
Janet John

Janet John

Janet John is a graduate of Chemical Engineering from the University of Uyo. She specializes in technical writing where she creates easy to read documentation, articles to clearly and efficiently explain highly complex processes. When she is not writing, she works as a freelance front-end developer

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