In the third quarter of 2018, the nominal year on year growth rate of Trade stood at 3.78%. This indicates an increase by 3.34% points when compared to the third quarter of 2017 and 3.79% points higher than the previous quarter.
In nominal terms, Public Administration activity expanded by 1.80% in Q3 2018, higher by 0.32% points from the corresponding quarter of 2017 and by 4.94% points relative to Q2 2018. Quarter-on-Quarter, the sector grew by –3.18%.
The contribution of Education to nominal GDP in Q3 2018 was 2.13%; down from 2.27% estimated in Q3 2017 but up from 1.75% in Q2 2018. Real growth in Education year-on-year stood at -0.42% in Q3 2018; an increase of 0.80% points from the corresponding quarter of 2017 which was estimated at –1.22%. When compared with the previous quarter’s rate of -0.67%, the sector increased by 0.25% points
In the third quarter of 2018, Agriculture contributed 25.52% to nominal GDP. This figure is higher than the rates recorded for the third quarter of 2017 and higher than the second quarter of 2018 which recorded 24.50% and 18.78% respectively.
The nation in the third quarter of 2018 recorded an average daily oil production of 1.94million barrels per day (mbpd), lower than the daily average production of 2.02mbpd recorded in the same quarter of 2017 by 0.08mbpd but higher than that of the second quarter of 2018 production volume of 1.84mbpd by 0.10mbpd.
The total value of capital importation into Nigeria stood at $ 5,513.55 million in the second quarter of 2018. This was a decrease of 12.53% compared to Q1 2018, but a 207.62% increase compared to the second quarter of 2017.