Business GDP Rebasing Lowers 2013 Economic Growth To 5.49%- Leadership



Nigeria’s actual gross domestic product (GDP) growth rate for 2013 has been revised to 5.49 per cent at the conclusion of the rebasing exercise from down from the 7.41 growth previously, the National Bureau of Statistics (NBS) announced on Friday.

The final GDP rebasing results by output for 2010 to 2013, released by the NBS yesterday, indicated that GDP growth for 2012 had been revised down to 4.21 per cent from a previous estimate of 6.5 per cent.

Nigeria overtook South Africa as Africa’s largest economy in April, after a rebasing calculation in April almost doubled its gross domestic product to more than $500 billion.

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Source: #Leadership