Value Added (Total Manufacturing) — Value US$ in Nigeria
Nigeria: Value Added (Total Manufacturing) — Value US$ was 57,612 million USD in 2023. ◆ Volatile
Value Added (Total Manufacturing) — Value US$ in Nigeria, 1970–2023
Source: Food and Agriculture Organization of the United Nations. Measured in million USD.
Analysis
In 2023, value added (total manufacturing) — value us$ in Nigeria stood at 57,612 million USD.
That represents a change of down 10.8% on the previous year and up 25.3% over ten years.
Over the whole period, value added (total manufacturing) — value us$ in Nigeria peaked at 64,577 million USD in 2022 and was at its lowest, 4,399 million USD, in 1970.
Nigeria ranks 43rd of 236 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Value Added (Total Manufacturing) — Value US$ in Nigeria, year by year
| Year | million USD | Change |
|---|---|---|
| 1970 | 4,399 million USD | — |
| 1971 | 4,694 million USD | +6.7% |
| 1972 | 6,106 million USD | +30.1% |
| 1973 | 7,814 million USD | +28.0% |
| 1974 | 10,786 million USD | +38.0% |
| 1975 | 18,576 million USD | +72.2% |
| 1976 | 24,333 million USD | +31.0% |
| 1977 | 26,060 million USD | +7.1% |
| 1978 | 29,817 million USD | +14.4% |
| 1979 | 35,836 million USD | +20.2% |
| 1980 | 45,617 million USD | +27.3% |
| 1981 | 45,700 million USD | +0.2% |
| 1982 | 45,000 million USD | -1.5% |
| 1983 | 46,236 million USD | +2.7% |
| 1984 | 38,376 million USD | -17.0% |
| 1985 | 44,247 million USD | +15.3% |
| 1986 | 23,725 million USD | -46.4% |
| 1987 | 11,444 million USD | -51.8% |
| 1988 | 14,622 million USD | +27.8% |
| 1989 | 10,339 million USD | -29.3% |
| 1990 | 10,943 million USD | +5.8% |
| 1991 | 11,608 million USD | +6.1% |
| 1992 | 9,247 million USD | -20.3% |
| 1993 | 10,470 million USD | +13.2% |
| 1994 | 10,359 million USD | -1.1% |
| 1995 | 10,097 million USD | -2.5% |
| 1996 | 10,235 million USD | +1.4% |
| 1997 | 10,772 million USD | +5.2% |
| 1998 | 10,157 million USD | -5.7% |
| 1999 | 9,652 million USD | -5.0% |
| 2000 | 9,677 million USD | +0.3% |
| 2001 | 10,309 million USD | +6.5% |
| 2002 | 11,267 million USD | +9.3% |
| 2003 | 12,653 million USD | +12.3% |
| 2004 | 14,814 million USD | +17.1% |
| 2005 | 17,721 million USD | +19.6% |
| 2006 | 20,902 million USD | +18.0% |
| 2007 | 23,156 million USD | +10.8% |
| 2008 | 27,527 million USD | +18.9% |
| 2009 | 22,882 million USD | -16.9% |
| 2010 | 23,810 million USD | +4.1% |
| 2011 | 29,425 million USD | +23.6% |
| 2012 | 35,485 million USD | +20.6% |
| 2013 | 45,981 million USD | +29.6% |
| 2014 | 54,780 million USD | +19.1% |
| 2015 | 46,631 million USD | -14.9% |
| 2016 | 35,122 million USD | -24.7% |
| 2017 | 32,848 million USD | -6.5% |
| 2018 | 40,693 million USD | +23.9% |
| 2019 | 54,676 million USD | +34.4% |
| 2020 | 54,457 million USD | -0.4% |
| 2021 | 64,130 million USD | +17.8% |
| 2022 | 64,577 million USD | +0.7% |
| 2023 | 57,612 million USD | -10.8% |
Nigeria compared with similar countries
- Nigeria's 57,612 million USD is above the median for lower middle income countries, which is 2,374 million USD, 24.3× the median. (44 countries reporting)
- Nigeria's 57,612 million USD is above the median for Sub-Saharan Africa, which is 1,532 million USD, 37.6× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 16,842 million USD | 4,399 million USD | 35,836 million USD | 10 |
| 1980s | 32,531 million USD | 10,339 million USD | 46,236 million USD | 10 |
| 1990s | 10,354 million USD | 9,247 million USD | 11,608 million USD | 10 |
| 2000s | 17,091 million USD | 9,677 million USD | 27,527 million USD | 10 |
| 2010s | 39,945 million USD | 23,810 million USD | 54,780 million USD | 10 |
| 2020s | 60,194 million USD | 54,457 million USD | 64,577 million USD | 4 |
Countries ranked near Nigeria
- 40 Philippines 70,896 million USD compare
- 41 Czechia 68,700 million USD compare
- 42 Denmark 64,968 million USD compare
- 44 United Arab Emirates 55,762 million USD compare
- 45 Israel 54,694 million USD compare
- 46 Puerto Rico 53,769 million USD compare
More economy & growth data for Nigeria
- 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.19 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0041 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 5 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 4.01 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 148.16 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0138 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 16.86 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 13.91 % change on previous year (2025)
Frequently asked questions
- What is value added (total manufacturing) — value us$ in Nigeria?
- Value added (total manufacturing) — value us$ in Nigeria was 57,612 million USD in 2023, according to Food and Agriculture Organization of the United Nations.
- What is the highest value added (total manufacturing) — value us$ recorded in Nigeria?
- The highest recorded value was 64,577 million USD in 2022.
- What is the lowest value added (total manufacturing) — value us$ recorded in Nigeria?
- The lowest recorded value was 4,399 million USD in 1970.
- How does Nigeria rank for value added (total manufacturing) — value us$?
- Nigeria ranks 43rd out of 236 countries with data for 2023.
- Is value added (total manufacturing) — value us$ rising or falling in Nigeria?
- Over the last ten years it is up 25.3%. 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 US$. Statizoid updates them automatically from the source API.
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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).