Value Added (Total Manufacturing) — Value Standard Local Currency in Nigeria
Nigeria: Value Added (Total Manufacturing) — Value Standard Local Currency was 36.02 million million SLC in 2023. ◆ Volatile
Value Added (Total Manufacturing) — Value Standard Local Currency in Nigeria, 1970–2023
Source: Food and Agriculture Organization of the United Nations. Measured in million SLC.
Analysis
Nigeria recorded 36.02 million million SLC for value added (total manufacturing) — value standard local currency in 2023. That is the highest value across all 54 years on record.
That represents a change of up 30.9% on the previous year and up 397.9% over ten years.
Over the whole period, value added (total manufacturing) — value standard local currency in Nigeria peaked at 36.02 million million SLC in 2023 and was at its lowest, 3,142 million SLC, in 1970.
Nigeria ranks 13th of 231 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Value Added (Total Manufacturing) — Value Standard Local Currency in Nigeria, year by year
| Year | million SLC | Change |
|---|---|---|
| 1970 | 3,142 million SLC | — |
| 1971 | 3,346 million SLC | +6.5% |
| 1972 | 4,017 million SLC | +20.0% |
| 1973 | 5,141 million SLC | +28.0% |
| 1974 | 6,798 million SLC | +32.2% |
| 1975 | 11,434 million SLC | +68.2% |
| 1976 | 15,247 million SLC | +33.3% |
| 1977 | 16,801 million SLC | +10.2% |
| 1978 | 18,942 million SLC | +12.7% |
| 1979 | 21,645 million SLC | +14.3% |
| 1980 | 24,943 million SLC | +15.2% |
| 1981 | 28,230 million SLC | +13.2% |
| 1982 | 30,306 million SLC | +7.4% |
| 1983 | 33,494 million SLC | +10.5% |
| 1984 | 29,416 million SLC | -12.2% |
| 1985 | 39,547 million SLC | +34.4% |
| 1986 | 41,626 million SLC | +5.3% |
| 1987 | 45,960 million SLC | +10.4% |
| 1988 | 66,341 million SLC | +44.3% |
| 1989 | 76,144 million SLC | +14.8% |
| 1990 | 87,960 million SLC | +15.5% |
| 1991 | 115,030 million SLC | +30.8% |
| 1992 | 159,955 million SLC | +39.1% |
| 1993 | 231,022 million SLC | +44.4% |
| 1994 | 370,156 million SLC | +60.2% |
| 1995 | 619,852 million SLC | +67.5% |
| 1996 | 780,483 million SLC | +25.9% |
| 1997 | 848,327 million SLC | +8.7% |
| 1998 | 838,527 million SLC | -1.2% |
| 1999 | 891,287 million SLC | +6.3% |
| 2000 | 984,081 million SLC | +10.4% |
| 2001 | 1.15 million million SLC | +16.5% |
| 2002 | 1.36 million million SLC | +18.5% |
| 2003 | 1.64 million million SLC | +20.4% |
| 2004 | 1.97 million million SLC | +20.4% |
| 2005 | 2.33 million million SLC | +18.2% |
| 2006 | 2.69 million million SLC | +15.6% |
| 2007 | 2.91 million million SLC | +8.3% |
| 2008 | 3.26 million million SLC | +12.0% |
| 2009 | 3.41 million million SLC | +4.4% |
| 2010 | 3.58 million million SLC | +5.0% |
| 2011 | 4.53 million million SLC | +26.5% |
| 2012 | 5.59 million million SLC | +23.4% |
| 2013 | 7.23 million million SLC | +29.4% |
| 2014 | 8.69 million million SLC | +20.1% |
| 2015 | 8.97 million million SLC | +3.3% |
| 2016 | 8.90 million million SLC | -0.8% |
| 2017 | 10.04 million million SLC | +12.8% |
| 2018 | 12.46 million million SLC | +24.0% |
| 2019 | 16.78 million million SLC | +34.7% |
| 2020 | 19.54 million million SLC | +16.4% |
| 2021 | 25.73 million million SLC | +31.7% |
| 2022 | 27.51 million million SLC | +6.9% |
| 2023 | 36.02 million million SLC | +30.9% |
Nigeria compared with similar countries
- Nigeria's 36.02 million million SLC is above the median for lower middle income countries, which is 183,468 million SLC, 196.3× the median. (44 countries reporting)
- Nigeria's 36.02 million million SLC is above the median for Sub-Saharan Africa, which is 756,855 million SLC, 47.6× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 10,651 million SLC | 3,142 million SLC | 21,645 million SLC | 10 |
| 1980s | 41,600 million SLC | 24,943 million SLC | 76,144 million SLC | 10 |
| 1990s | 494,260 million SLC | 87,960 million SLC | 891,287 million SLC | 10 |
| 2000s | 2.17 million million SLC | 984,081 million SLC | 3.41 million million SLC | 10 |
| 2010s | 8.68 million million SLC | 3.58 million million SLC | 16.78 million million SLC | 10 |
| 2020s | 27.20 million million SLC | 19.54 million million SLC | 36.02 million million SLC | 4 |
Countries ranked near Nigeria
More economy & growth data for Nigeria
- Real gdp growth, annual growth rate 22.77 % change on previous year (2024)
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.04 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.32 Percent per annum (2029)
- SDRs holdings, US dollar, annual growth rate 3.99 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0148 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 18.13 units per person (2025)
- SDRs holdings, SDR, annual growth rate -0.9704 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0108 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 13.24 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -17.26 % change on previous year (2025)
Frequently asked questions
- What is value added (total manufacturing) — value standard local currency in Nigeria?
- Value added (total manufacturing) — value standard local currency in Nigeria was 36.02 million million SLC in 2023, according to Food and Agriculture Organization of the United Nations.
- What is the highest value added (total manufacturing) — value standard local currency recorded in Nigeria?
- The highest recorded value was 36.02 million million SLC in 2023.
- What is the lowest value added (total manufacturing) — value standard local currency recorded in Nigeria?
- The lowest recorded value was 3,142 million SLC in 1970.
- How does Nigeria rank for value added (total manufacturing) — value standard local currency?
- Nigeria ranks 13th out of 231 countries with data for 2023.
- Is value added (total manufacturing) — value standard local currency rising or falling in Nigeria?
- Over the last ten years it is up 397.9%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Value Added (Total Manufacturing) — Value Standard Local Currency. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 54 observations, free to reuse under CC BY-NC-SA 3.0 IGO (FAO).
About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).