• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Nigeria’s trade sector contracts by 2.43% in Q1 2021

4 years ago
in Business, Economy, Editor's pick, highlights, Home, home-news, latest News, Trade
1 min read
0 0
0
57
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

AfCFTA Secretary-General Mourns Ghana Helicopter Crash Victims

15% US Tariff on Ghanaian Exports Takes Effect Today

President Mahama Reassigns Defence and Environment Ministerial Portfolios Following Fatal Helicopter Crash That Killed Two Ministers

Nigeria’s trade sector contracted by 2.43% in real terms in the first quarter of 2021. This is according to the recently published GDP report by the National Bureau of Statistics (NBS).

Its recorded growth rate represents 0.39% points higher than the 2.82% contraction recorded in the corresponding period of 2020 and 0.77% points higher than -3.2% recorded in the previous quarter (Q4 2020).

Quarter-on-quarter growth stood at -13.10%, which is higher than the quarter-on-quarter growth recorded in the first quarter of 2020 at -13.79%.

However, in nominal terms which do not take into account the impact of inflation, the trade sector’s year-on-year growth stood at 0.13%. This indicates an increase of 0.4% points when compared to the contraction of 0.27% recorded in Q1 2020.

A cursory look at the trend shows that the last time the trade sector recorded positive real term growth was Q1 2019 when it posted a 0.85% real GDP growth. This implies that the sector’s negative performances in recent times might not be attributed to the pandemic.

What you should know
  • Nigeria’s economy recorded a tepid growth of 0.51% in the first quarter of 2021, marking two consecutive quarters of growth following the economic recession recorded in 2020.
  • The oil sector accounted for 9.25% of the quarterly GDP, while the non-oil sector accounted for 90.75% of the total GDP.
  • Real GDP stood at N16.83 trillion in the period, while nominal GDP was estimated at N40.14 trillion.
  • Trade’s contribution to GDP was 15.61%, which is lower than the 16.08% recorded in Q1 2020, but higher than the 15.46% recorded in the fourth quarter of 2020.
  • The trade sector real GDP was estimated at N2.63 trillion in Q1 2021, with nominal GDP standing at N5.39 trillion.

Source: nairametrics
Via: norvanreports
Tags: inflationNational Bureau of Statistics (NBS).Nigeria’s trade sector contracted by 2.43%real GDP growth
No Result
View All Result

Highlights

GOC Suspends King’s Baton Relay in Response to Tragic Helicopter Crash Claiming Eight Lives, Including Two Ministers

Kopa Trophy 2025: Yamal, Doue, and Agyemang Lead Nominees for Best Young Player

Letshego Ghana Delivers Strong and Stable H1 2025 Results, Driven by Solid Business Fundamentals

Ghana Chamber of Mines Pays Tribute to Omane-Boamah, Dr Murtala Mohammed and Six Others in Helicopter Crash

FirstBank Ghana Equips Graduate Trainees 

GRTCC Suspends 20% Transport Fare Hike Following Talks with Transport Ministry

Trending

Features

AfCFTA Secretary-General Mourns Ghana Helicopter Crash Victims

August 7, 2025

AfCFTA Secretary-General Mourns Ghana Helicopter Crash Victims The Secretary-General of the African Continental Free Trade Area (AfCFTA),...

15% US Tariff on Ghanaian Exports Takes Effect Today

August 7, 2025

President Mahama Reassigns Defence and Environment Ministerial Portfolios Following Fatal Helicopter Crash That Killed Two Ministers

August 7, 2025

GOC Suspends King’s Baton Relay in Response to Tragic Helicopter Crash Claiming Eight Lives, Including Two Ministers

August 7, 2025

Kopa Trophy 2025: Yamal, Doue, and Agyemang Lead Nominees for Best Young Player

August 7, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.