Industrial Production in Nigeria decreased 9.70 percent in the second quarter of 2023 over the same quarter in the previous year. Industrial Production in Nigeria averaged 0.36 percent from 2007 until 2023, reaching an all time high of 27.60 percent in the first quarter of 2011 and a record low of -16.80 percent in the fourth quarter of 2016. source: Central Bank of Nigeria

Industrial Production in Nigeria is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Industrial Production is projected to trend around 3.50 percent in 2024 and 5.00 percent in 2025, according to our econometric models.

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Nigeria Industrial Production

Related Last Previous Unit Reference
Business Confidence -15.20 -1.50 points Dec 2020
Industrial Production -9.70 15.20 percent Jun 2023
Manufacturing Production 2.20 8.00 percent Jun 2023
Services PMI 51.10 52.70 points Aug 2023
Manufacturing PMI 42.80 49.40 points Aug 2023
Capacity Utilization 54.90 56.40 percent Jun 2023
Mining Production -8.00 -4.80 percent Sep 2022
Leading Economic Index 45.90 45.50 percent Mar 2016

Nigeria Industrial Production
In Nigeria, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities.
Actual Previous Highest Lowest Dates Unit Frequency
-9.70 15.20 27.60 -16.80 2007 - 2023 percent Quarterly