The nation’s Gross Domestic Product (GDP) grew by 3.46% (year-on-year) in real terms in the fourth quarter of 2023, according to the latest report from the National Bureau of Statistics (NBS).
NBS revealed that the growth rate was lower than the 3.52% recorded in the fourth quarter of 2022, but higher than the third quarter of 2023 growth of 2.54%.
The Bureau said, the performance of the GDP in the fourth quarter of 2023 was driven mainly by the Services sector, which recorded a growth of 3.98% and contributed 56.55% to the aggregate GDP.
According to the report, the agriculture sector grew by 2.10%, from the growth of 2.05% recorded in the fourth quarter of 2022.
The report put the growth of the industry sector at 3.86%, an improvement from -0.94% recorded in the fourth quarter of 2022.
NBS said, in terms of share of the GDP, industry, and the services sectors contributed more to the aggregate GDP in the fourth quarter of 2023 compared to the fourth quarter of 2022.
It however, said, on an annual basis, the GDP grew by 2.74% in 2023 relative to 3.10% in 2022.
