Nigeria Industrial Production Index Growth

2011 - 2023 | Quarterly | % | CEIC Data

Key information about Nigeria Industrial Production Index Growth

  • Nigeria Industrial production fell 3.1 % YoY in Jun 2023, following a drop of 0.5 % YoY in the previous quarter.
  • Nigeria Industrial production index growth rate YoY data is updated quarterly, available from Mar 2011 to Jun 2023, with an average rate of -0.9 %.
  • The data reached an all-time high of 27.6 % in Mar 2011 and a record low of -16.9 % in Dec 2016.

CEIC calculates quarterly Industrial Production Index Growth from quarterly Industrial Production Index. The Central Bank of Nigeria provides Industrial Production Index with base 2010=100.

View Nigeria's Industrial Production Index Growth from Mar 2011 to Jun 2023 in the chart:

Nigeria Industrial Production Index Growth

What was Nigeria's Industrial Production Index Growth in Jun 2023?

Nigeria Industrial production fell 3.1 % YoY in Jun 2023, following a drop of 0.5 % YoY in the previous quarter. See the table below for more data.

Last Previous Min Max Unit Frequency Range
-3.1 Jun 2023 -0.5 Mar 2023 -16.9 Dec 2016 27.6 Mar 2011 % quarterly Mar 2011 - Jun 2023

Industrial Production Index Growth by Country Comparison

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country/region Last Frequency Range
Albania (%) -13.5 Jun 2023 quarterly Mar 2006 - Jun 2023
Algeria (%) 5.6 Mar 2023 quarterly Mar 1996 - Mar 2023
Argentina (2004=100) 133.0 Sep 2023 monthly Jan 2016 - Sep 2023
Armenia (%) -4.3 Sep 2023 monthly Jan 2008 - Sep 2023
Australia (%) 1.7 Jun 2023 quarterly Sep 1975 - Jun 2023
Austria (%) 1.1 Apr 2023 monthly Jan 1958 - Apr 2023
Azerbaijan (%) -5.5 Sep 2023 monthly Dec 2009 - Sep 2023
Bangladesh (%) 12.3 May 2023 monthly Jul 1974 - May 2023
Belarus (%) 9.7 Sep 2023 monthly Jan 2002 - Sep 2023
Belgium (%) -3.8 Apr 2023 monthly Jan 1956 - Apr 2023
Bolivia (%) -0.5 2019 yearly 1991 - 2019
Bosnia and Herzegovina (%) -1.5 Sep 2023 monthly Jan 2007 - Sep 2023
Brazil (%) 0.3 Aug 2023 monthly Jan 1986 - Aug 2023
Bulgaria (%) -10.8 Apr 2023 monthly Jan 2001 - Apr 2023
Canada (%) -1.0 Sep 2023 monthly Jan 1958 - Sep 2023
Chile (%) 0.3 Aug 2023 monthly Jan 2010 - Aug 2023
China (%) 4.6 Oct 2023 monthly Jan 1995 - Oct 2023
Colombia (%) -2.8 Sep 2023 monthly Jan 1981 - Sep 2023
Croatia (%) 0.4 May 2023 monthly Jan 1999 - May 2023
Cyprus (%) 3.0 Aug 2023 monthly Jan 2001 - Aug 2023
Czech Republic (%) -2.5 Aug 2023 monthly Jan 1999 - Aug 2023
Denmark (%) 11.3 Apr 2023 monthly Jan 2001 - Apr 2023
Ecuador (%) 30.3 Sep 2020 monthly Jan 2017 - Sep 2020
Egypt (%) -0.7 Sep 2023 monthly Jan 2021 - Sep 2023
Estonia (%) -15.1 Apr 2023 monthly Jan 1999 - Apr 2023
European Union (%) 0.6 Apr 2023 monthly Jan 1992 - Apr 2023
Finland (%) -2.4 Apr 2023 monthly Jan 1955 - Apr 2023
France (%) 2.6 May 2023 monthly Jan 1991 - May 2023
Georgia (%) -3.2 Jun 2023 quarterly Mar 2002 - Jun 2023
Germany (%) -3.9 Sep 2023 monthly Jan 1959 - Sep 2023
Greece (%) 4.2 Apr 2023 monthly Jan 1991 - Apr 2023
Hong Kong SAR, China (%) 2.8 Jun 2023 quarterly Mar 1983 - Jun 2023
Hungary (%) -4.6 May 2023 monthly Jan 1986 - May 2023
Iceland (%) 11.7 2018 yearly 2008 - 2018
India (%) 5.8 Sep 2023 monthly Apr 2006 - Sep 2023
Indonesia (%) -1.3 Jun 2023 monthly Jan 1999 - Jun 2023
Iran (%) 12.7 Mar 2017 monthly Jan 1958 - Mar 2017
Ireland (%) 27.4 Apr 2023 monthly Jul 1976 - Apr 2023
Israel (%) 7.3 Aug 2023 monthly Jan 2005 - Aug 2023
Italy (%) -7.0 Apr 2023 monthly Jan 1954 - Apr 2023
Ivory Coast (%) 4.2 Jul 2023 monthly Feb 2022 - Jul 2023
Japan (%) -3.4 Sep 2023 monthly Jan 1954 - Sep 2023
Jordan (%) 0.4 Sep 2023 monthly Jan 2003 - Sep 2023
Kazakhstan (%) 7.4 Oct 2023 monthly Feb 2001 - Oct 2023
Kenya (%) 5.9 2021 yearly 2002 - 2021
South Korea (%) 2.0 Sep 2023 monthly Jan 1958 - Sep 2023
Kuwait (%) -10.0 Mar 2017 monthly Jan 1966 - Mar 2017
Kyrgyzstan (%) 2.6 Sep 2023 monthly Jan 1999 - Sep 2023
Latvia (%) -8.7 May 2023 monthly Jan 2001 - May 2023
Lebanon (%) 10.6 2010 yearly 1998 - 2010
Lithuania (%) -2.6 Sep 2023 monthly Jan 1999 - Sep 2023
Luxembourg (%) -4.9 Aug 2023 monthly Jan 2011 - Aug 2023
Macau SAR, China (%) 13.5 Jun 2023 quarterly Mar 2001 - Jun 2023
North Macedonia (%) 4.5 Sep 2023 monthly Jan 2004 - Sep 2023
Malawi (%) -27.7 Dec 2020 monthly Jan 2014 - Dec 2020
Malaysia (%) -0.6 Sep 2023 monthly Jan 2011 - Sep 2023
Malta (%) 14.5 Apr 2023 monthly Jan 2001 - Apr 2023
Mauritius (%) -0.7 Dec 2021 quarterly Mar 2015 - Dec 2021
Mexico (%) 4.5 Sep 2023 monthly Jan 1981 - Sep 2023
Moldova (%) -0.1 Aug 2023 monthly Jan 2004 - Aug 2023
Mongolia (%) 105.6 May 2023 monthly Jan 2010 - May 2023
Montenegro (%) -13.7 Oct 2022 monthly Jan 2001 - Oct 2022
Morocco (%) -3.5 Jun 2023 quarterly Mar 1979 - Jun 2023
Mozambique (%) -11.4 Mar 2023 monthly Jun 2012 - Mar 2023
Nepal (%) 7.9 Jul 2018 quarterly Oct 2016 - Jul 2018
Netherlands (%) -12.4 Apr 2023 monthly Jan 2001 - Apr 2023
New Zealand (%) -6.6 Dec 2022 quarterly Jun 1978 - Dec 2022
Nigeria (%) -3.1 Jun 2023 quarterly Mar 2011 - Jun 2023
Norway (%) -5.1 Apr 2023 monthly Jan 1991 - Apr 2023
Oman (%) -1.9 Apr 2017 monthly Jul 1968 - Apr 2017
Pakistan (%) 1.0 Sep 2023 monthly May 1998 - Sep 2023
Palestinian Territory (%) -0.7 Sep 2023 monthly Jan 2012 - Sep 2023
Panama (%) 0.8 Dec 2021 monthly Jan 2004 - Dec 2021
Peru (%) -9.3 Sep 2023 monthly Jan 1994 - Sep 2023
Philippines (%) 9.1 Sep 2023 monthly Jan 2002 - Sep 2023
Poland (%) -2.4 May 2023 monthly Jan 1998 - May 2023
Portugal (%) -3.7 Jun 2023 monthly Jan 1996 - Jun 2023
Qatar (%) -11.2 Mar 2017 monthly Jan 1958 - Mar 2017
Romania (%) -4.7 Apr 2023 monthly Jan 2006 - Apr 2023
Russia (%) 5.6 Sep 2023 monthly Jan 2014 - Sep 2023
Saudi Arabia (%) -11.2 Sep 2023 monthly Jan 2019 - Sep 2023
Serbia (%) 0.6 May 2023 monthly Jan 2001 - May 2023
Singapore (%) -2.0 Sep 2023 monthly Jan 1984 - Sep 2023
Slovakia (%) -2.0 Apr 2023 monthly Jan 1999 - Apr 2023
Slovenia (%) -8.8 Apr 2023 monthly Dec 1992 - Apr 2023
South Africa (%) -3.5 Sep 2023 monthly Jan 1962 - Sep 2023
Spain (%) -0.1 May 2023 monthly Jan 1962 - May 2023
Sri Lanka (%) -8.2 Apr 2023 monthly Jan 2016 - Apr 2023
Sweden (%) 2.4 Apr 2023 monthly Jan 1981 - Apr 2023
Switzerland (%) -2.6 Jun 2023 monthly Oct 2010 - Jun 2023
Syria (%) -10.0 2021 yearly 1966 - 2021
Taiwan (%) -6.6 Sep 2023 monthly Jan 1997 - Sep 2023
Tajikistan (%) 7.5 Aug 2023 monthly Jan 2000 - Aug 2023
Thailand (%) -4.7 Sep 2023 monthly Jan 2012 - Sep 2023
Tunisia (%) -7.7 Jun 2023 monthly Jan 2001 - Jun 2023
Turkey (%) -0.9 Apr 2023 monthly Jan 1987 - Apr 2023
Ukraine (%) 13.7 Jun 2023 monthly Dec 2000 - Jun 2023
United Arab Emirates (%) 2.2 Mar 2017 monthly Jan 1975 - Mar 2017
United Kingdom (%) -1.8 Apr 2023 monthly Jan 1949 - Apr 2023
United States (%) 0.1 Sep 2023 monthly Jan 1920 - Sep 2023

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Nigeria Key Series

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Includes 200 key indicators for Nigeria, curated by CEIC analysts. Instant access to full history data in excel.
Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -4.5 Jun 2023 quarterly Dec 2010 - Jun 2023
Consolidated Fiscal Balance (USD mn) -3,119.933 Mar 2023 quarterly Mar 2005 - Mar 2023
National Government Debt (USD mn) 105,874.7 Jun 2023 quarterly Dec 2006 - Jun 2023
Government Debt: % of GDP (%) 38.4 Jun 2023 quarterly Dec 2010 - Jun 2023
Forecast: Government Expenditure (NGN bn) 69,308.370 2028 yearly 1990 - 2028
Forecast: Government Net Debt (NGN bn) 205,772.042 2028 yearly 1990 - 2028
Forecast: Government Revenue (NGN bn) 42,354.643 2028 yearly 1990 - 2028
Federal Govt Expenditure: Recurrent (NGN bn) 3,727.570 Jun 2023 quarterly Mar 2005 - Jun 2023
Gross Federation Account Revenue: Oil (NGN bn) 809.020 Jun 2023 quarterly Mar 2005 - Jun 2023
Federal Govt Balance (NGN bn) -2,778.020 Jun 2023 quarterly Mar 2005 - Jun 2023
Federal Govt Expenditure (NGN bn) 4,511.090 Jun 2023 quarterly Mar 2005 - Jun 2023
Gross Federation Account Revenue (NGN bn) 3,417.450 Jun 2023 quarterly Mar 2005 - Jun 2023
Federal Govt Expenditure: Capital (NGN bn) 577.610 Jun 2023 quarterly Mar 2005 - Jun 2023
Federal Govt Revenue (NGN bn) 1,733.060 Jun 2023 quarterly Mar 2005 - Jun 2023
Government Debt: Domestic (NGN bn) 21,551.925 Sep 2022 quarterly Dec 2005 - Sep 2022
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 2,864.8 Jun 2023 monthly Jan 2003 - Jun 2023
Total Exports (USD mn) 4,980.1 Jun 2023 monthly Jan 2003 - Jun 2023
Total Exports Growth (%) 20.8 Jun 2023 monthly Jan 2004 - Jun 2023
Aluminum: Exports (USD th) 165,096.506 2022 yearly 1995 - 2022
Exports: Medicament (USD th) 2,876.353 2022 yearly 1995 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 480.530 2022 yearly 1995 - 2022
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) -51.0 Jun 2023 monthly Jan 2004 - Jun 2023
Imports: Medicament (USD th) 755,360.705 2022 yearly 1995 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 508,406.689 2022 yearly 1995 - 2022
Total Exports to USA (USD mn) 572.559 Jun 2023 monthly Jan 2003 - Jun 2023
Total Imports from USA (USD mn) 152.825 Jun 2023 monthly Dec 2009 - Jun 2023
Total Exports to China (USD mn) 95.340 Jun 2023 monthly Jan 2007 - Jun 2023
Total Imports from China (USD mn) 789.577 Jun 2023 monthly Jan 2007 - Jun 2023
Exports: Crude Oil (NGN mn) 2,414,082.844 Jun 2023 monthly Jan 2003 - Jun 2023
Total Trade (NGN mn) 4,312,166.584 Jun 2023 monthly Jan 2003 - Jun 2023
Exports: America: ow USA (NGN mn) 347,972.110 Jun 2023 monthly Jan 2003 - Jun 2023
Exports: Europe: ow Netherlands (NGN mn) 211,211.147 Jun 2023 monthly Jan 2003 - Jun 2023
Exports (NGN mn) 3,026,626.316 Jun 2023 monthly Jan 2003 - Jun 2023
Exports: Europe: ow UK (NGN mn) 261,128.427 Jun 2023 monthly Jan 2003 - Jun 2023
Exports: Mineral Products (NGN mn) 24,389,951.388 2022 yearly 2003 - 2022
Exports: Vegetable Products (NGN mn) 316,546.604 2022 yearly 2003 - 2022
Imports: Europe: ow Netherlands (NGN mn) 65,817.881 Jun 2023 monthly Jan 2003 - Jun 2023
Imports: Europe: ow Germany (NGN mn) 28,945.326 Jun 2023 monthly Jan 2003 - Jun 2023
Imports: America: ow USA (NGN mn) 92,879.196 Jun 2023 monthly Jan 2003 - Jun 2023
Imports: Europe: ow UK (NGN mn) 22,052.326 Jun 2023 monthly Jan 2003 - Jun 2023
Imports: Asia: ow China (NGN mn) 479,864.758 Jun 2023 monthly Jan 2007 - Jun 2023
Imports: Chemicals and Chemical Products (NGN mn) 209,078.730 Jun 2023 monthly Jan 2003 - Jun 2023
Imports (NGN mn) 1,285,540.268 Jun 2023 monthly Jan 2003 - Jun 2023
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 103,084.916 Jun 2023 monthly Jan 2003 - Jun 2023
Imports: Manufactured Goods (NGN mn) 154,179.230 Jun 2023 monthly Jan 2003 - Jun 2023
Imports: Food and Live Animals (NGN mn) 260,951.755 Jun 2023 monthly Jan 2003 - Jun 2023
Imports: Machinery and Transport Equipment (NGN mn) 456,731.551 Jun 2023 monthly Jan 2003 - Jun 2023
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 274.7 Dec 2022 quarterly Mar 2008 - Dec 2022
Current Account Balance (USD mn) 2,348.3 Dec 2022 quarterly Mar 2008 - Dec 2022
Current Account Balance: % of GDP (%) 1.8 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Direct Investment (USD mn) 752.7 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Direct Investment: % of GDP (%) 0.6 Dec 2022 quarterly Mar 2010 - Dec 2022
Foreign Portfolio Investment (USD mn) 337.399 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Portfolio Investment: % of GDP (%) 0.3 Dec 2022 quarterly Mar 2010 - Dec 2022
Foreign Portfolio Investment: Equity Securities (USD mn) -2.3 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Portfolio Investment: Debt Securities (USD mn) 339.714 Dec 2022 quarterly Mar 2008 - Dec 2022
External Debt (USD mn) 43,159.2 Jun 2023 quarterly Dec 2006 - Jun 2023
External Debt: % of GDP (%) 8.9 2022 yearly 1985 - 2022
External Debt: Short Term (USD mn) 1,005.6 2020 yearly 2008 - 2020
External Debt: Short Term: % of GDP (%) 0.2 2020 yearly 2008 - 2020
Forecast: Current Account Balance (USD bn) -1.502 2028 yearly 1980 - 2028
Net International Investment Position (USD mn) -77,562.105 2022 yearly 2005 - 2022
BoP: CA: Current Transfers (USD mn) 5,442.967 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Capital Account (USD mn) 0.000 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Reserves Assets (USD mn) 1,437.945 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Other Investment (USD mn) -1,699.632 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account: Assets: Portfolio Investment (USD mn) -182.419 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Liabilities: Portfolio Investment (USD mn) 1,000.946 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Direct Investment (USD mn) 94.452 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CA: Goods: Debit (USD mn) -11,787.111 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account: Assets (USD mn) -1,085.664 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Services: Debit (USD mn) -4,428.113 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account: Liabilities: Other Investment (USD mn) 848.311 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Services (USD mn) -3,132.845 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: Net Errors & Omission (USD mn) -3,201.073 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Current Transfers: Credit (USD mn) 5,452.430 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account: Liabilities (USD mn) 1,938.423 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Current Transfers: Debit (USD mn) -505.024 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Income: Debit (USD mn) -2,775.122 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Income (USD mn) -2,264.294 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Services: Credit (USD mn) 1,295.268 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account (USD mn) 852.759 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Goods: Credit (USD mn) 14,585.159 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Income: Credit (USD mn) 510.828 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Goods (USD mn) 2,798.047 Dec 2022 quarterly Mar 2008 - Dec 2022
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government (USD mn) 43,159.190 Jun 2023 quarterly Dec 2006 - Jun 2023
External Debt: Government: International Capital Market (USD mn) 15,618.350 Jun 2023 quarterly Mar 2011 - Jun 2023
Capital Inflow: Foreign Direct Investment (USD) 20,080,525.860 Nov 2022 monthly Jan 2007 - Nov 2022
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 6.1 2019 yearly 2003 - 2019
Non-Performing Loans (USD mn) 3,315.011 Mar 2021 quarterly Mar 2007 - Mar 2021
Money Supply M1 (USD mn) 32,984.407 Sep 2023 monthly Nov 1992 - Sep 2023
Money Supply M2 (USD mn) 86,392.467 Sep 2023 monthly Nov 1992 - Sep 2023
M2 Growth (%) 34.6 Sep 2023 monthly Nov 1993 - Sep 2023
Reserve Requirement Ratio (%) 32.5 Oct 2023 monthly Nov 2005 - Oct 2023
Foreign Exchange Reserves (USD mn) 34,390.0 May 2023 monthly Jan 1960 - May 2023
Foreign Exchange Reserves: % of GDP (%) 7.433 Mar 2023 quarterly Dec 2010 - Mar 2023
Foreign Exchange Reserves: Months of Import (NA) 15.9 Jun 2023 monthly Jan 2003 - Jun 2023
Gold Reserves (USD mn) 1,320.221 Jun 2023 monthly Dec 1950 - Jun 2023
Total Deposits (USD mn) 84,213.801 Dec 2019 monthly Nov 1992 - Dec 2019
Total Deposits Growth (%) 2.6 Dec 2019 monthly Nov 1993 - Dec 2019
Domestic Credit (USD mn) 120,607.0 Sep 2023 monthly Nov 1992 - Sep 2023
Domestic Credit Growth (%) 46.4 Sep 2023 monthly Nov 1993 - Sep 2023
Private Debt: % of Nominal GDP (%) 12.94 Dec 2022 quarterly Dec 2010 - Dec 2022
Monetary Survey: Liabilities: Base Money (NGN mn) 19,506,555.340 Sep 2023 monthly Jan 1993 - Sep 2023
Monetary Survey: Liabilities: M2: M1 (NGN mn) 25,357,092.620 Sep 2023 monthly Nov 1992 - Sep 2023
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 41,057,980.140 Sep 2023 monthly Nov 1992 - Sep 2023
Monetary Survey: Liabilities: M2 (NGN mn) 66,415,072.760 Sep 2023 monthly Nov 1992 - Sep 2023
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Non Performing Loans to Gross Loans (%) 4.210 Dec 2022 semiannually Dec 2003 - Dec 2022
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 7.0 May 2023 monthly Jul 2015 - May 2023

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