The Agriculture sector grew by 3.42% in real terms in Q4 2020 compared to a growth of 1.39% recorded in Q3 2020.
This is even as analysts say the economy is really not out of the woods yet since the growth is not inclusive.
This is even as analysts say the economy is really not out of the woods yet since the growth is not inclusive.
According to them, with inflation at 16.4 percent, the economy may be witnessing growth without development with purchasing power diminishing rapidly with the attendant impoverishment.
However, the Agriculture sector grew by 3.42% in real terms in Q4 2020 compared to a growth of 1.39% (year-on-year) recorded in the previous quarter (Q3 2020).This was disclosed in the Q4 GDP report, released by the National Bureau of Statistics (NBS) on Thursday. The 2020 Agric GDP grew by 2.17% compared to 2.36% recorded in 2019.
However, the Agriculture sector grew by 3.42% in real terms in Q4 2020 compared to a growth of 1.39% (year-on-year) recorded in the previous quarter (Q3 2020).This was disclosed in the Q4 GDP report, released by the National Bureau of Statistics (NBS) on Thursday. The 2020 Agric GDP grew by 2.17% compared to 2.36% recorded in 2019.
The NBS disclosed that Crop Production grew by 3.68% compared to 1.38% in Q3 2020 & 2.52% in Q4 2019. The total 2020 GDP for Crop Production grew 2.24% compared to 2.51% in 2019
Livestock grew by 2.38% in the quarter under review compared to 2.29% in Q3 2020 & -0.20% in Q4 2019. It also grew by 1.91% in 2020 full year compared to 0.16% in 2019
Forestry grew by 1.24% in Q4 2020 compared to 2.55% in Q3 2020 & 1.26% in the corresponding period of 2019. Forestry also grew by 1.62% compared to 2.59% recorded in 2019
Fishing however contracted by 3.60% compared to a similar contraction of 2.07% recorded in Q3 2020 & a positive growth of 2.33% in Q4 2019. Fishing grew 0.26% compared to 3.33% in 2019
