Agricultural sector contributed 23.92% to nominal GDP in Q2, greater than 19.39% first quarter of 2020

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The Agricultural sector comprising four sub-activities, namely: Crop Production, Livestock, Forestry and Fishing. The NBS report disclosed that the sector grew by 19.90% year-on-year in nominal terms in Q2 2020, showing an increase of 2.14% points from the same quarter of 2019.

Looking at the preceding quarter’s growth rate of 22.47%, this quarter’s growth rate represented a decline of –2.57% points.

 

Nevertheless, according to the National Bureau of Statistics (NBS) report, the Crop Production remained the major growth driver of the sector, as it accounted for 87.34% of nominal GDP in the sector in Q2 2020.

 

Compare on Quarter on Quarter, the growth stood at 9.36% in the second quarter of 2020.Agriculture contributed 23.92% to nominal GDP, higher than the rates recorded for the second quarter of 2019 and the first quarter of 2020 which recorded 19.39% and 20.88% respectively.

 

In real terms, the agricultural sector grew by 1.58% (year-on-year) in the second quarter of 2020, a decrease of –0.21% points from the corresponding period of 2019, and –0.62% points from the preceding quarter. On a quarter on quarter basis, the sector grew at 6.57%. Further, the sector contributed 24.65% to aggregate real GDP in Q2 2020, higher than the contributions in the second quarter of 2019 and the first quarter of 2020 which stood at 22.78% and 21.96% respectively.

Agriculture: Q1 2019 – Q2 202015GDP REPORT Q2 2020Agriculture sector Agricultural sector grew by 1.58% in Q2 2020 from 2.22% in Q1 2020 and 1.79% in Q2 2019.

 

Crop Production under agriculture sector grew by 1.44% in Q2 2020 from 2.38% in Q1 2020 and 1.94% in Q2 2019

 

The breakdown showed that the Livestock under agriculture sector grew by 2.26% in Q2 2020 from 0.63% in Q1 2020 and -0.01% in Q2 2019, while Forestry under agriculture sector grew by 1.08% in Q2 2020 from 1.71% in Q1 2020 and 3.23% in Q2 2019 and Fishing under agriculture sector grew by 5.68% in Q2 2020 from 1.49% in Q1 2020 and 1.09% in Q2 2019

 


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