Nigeria Economic Outlook

The economy expanded based on Nigeria leading indicators. Nigeria composite pmi increased to 56.1 in August 2018 from 56 on a Monthly basis, rising by 0.18%. Nigeria manufacturing pmi increased to 57.1 in August 2018 from 56.8 on a Monthly basis, rising by 0.53%. Nigeria services pmi increased to 58 in August 2018 from 57.7 on a Monthly basis, rising by 0.52%.

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Nigeria Data

Economic Variable Type Last Previous Return
Nigeria composite pmi Composite PMI 56,10 56 0,00
Nigeria manufacturing pmi Manufacturing PMI 57,10 56.8 0,00
Nigeria services pmi Services PMI 58,00 57.7 0,00
Nigeria Industrial Production YoY industrial production -3,30 -4.2
Nigeria capacity utilization capacity utilization
Nigeria consumer price index cpi consumer price index cpi 266,20 263.4
Nigeria money supply m2 money supply m2 24.971.100,00 24814000
Nigeria government debt to gdp government debt to gdp
Nigeria exports Exports 1.482.220,00 1556490
Nigeria unemployment rate Unemployment rate 18,80 16.2
Nigeria youth unemployment rate Youth Unemployment rate 33,10 29.5
Nigeria gdp GDP 375,77 404.7
Nigeria balance of trade balance of trade 887.641,00 768265
Nigeria current account Current account
Nigeria government budget Government budget
Nigeria government budget value Government budget value -2.007,72 -1396.83
nigeria interest rate interest rate 14,00 14
nigeria imports Imports 594.582,00 788224

Nigeria Overview

Nigeria Leading Indicators remained stable to .Nigeria composite pmi in Nigeria averaged 53.25 from 2014 until 2018, reaching an all time high of 59.1 Monthly in 2018-05-01 and a record low of 46.3 Monthly in 2016-08-01.Nigeria manufacturing pmi in Nigeria averaged 50.72 from 2014 until 2018, reaching an all time high of 59.3 Monthly in 2017-12-01 and a record low of 41.9 Monthly in 2016-06-01.Nigeria services pmi in Nigeria averaged 51.56 from 2014 until 2018, reaching an all time high of 62.1 Monthly in 2017-12-01 and a record low of 41 Monthly in 2016-09-01.

Nigeria Industrial Production Nigeria Industrial Production YoY decreased to -3.3 in October 2017 from -4.2 on a Quarterly basis, falling by -21.43%. Nigeria Industrial Production YoY in Nigeria averaged 0.96 from 2007 until 2017, reaching an all time high of 20.1 % in 2011-01-01 and a record low of -20.4 % in 2016-01-01.

Nigeria Inflation Nigeria consumer price index cpi increased to 266.2 in August 2018 from 263.4 on a Monthly basis, rising by 1.06%. Nigeria consumer price index cpi in Nigeria averaged 92.61 from 1995 until 2018, reaching an all time high of 266.2 Index Points in 2018-08-01 and a record low of 14.36 Index Points in 1995-01-01.

Nigeria Trade Nigeria exports decreased to 1.48222e+006 in June 2018 from 1.55649e+006 on a Monthly basis, falling by -4.77%. Nigeria balance of trade increased to 887641 in June 2018 from 768265 on a Monthly basis, rising by 15.54%. nigeria imports decreased to 594582 in June 2018 from 788224 on a Monthly basis, falling by -24.57%. Nigeria exports in Nigeria averaged 508307 from 1988 until 2018, reaching an all time high of 2.64888e+006 NGN Millions in 2011-12-01 and a record low of 2285.35 NGN Millions in 1988-10-01. Nigeria balance of trade in Nigeria averaged 255052 from 1988 until 2018, reaching an all time high of 2.17755e+006 NGN Millions in 2011-10-01 and a record low of -592201 NGN Millions in 2011-03-01. nigeria imports in Nigeria averaged 253256 from 1988 until 2018, reaching an all time high of 1.55473e+006 NGN Millions in 2011-03-01 and a record low of 1105.64 NGN Millions in 1988-07-01.

Nigeria Labor Market Nigeria unemployment rate increased to 18.8 in July 2017 from 16.2 on a Quarterly basis, rising by 16.05%. Nigeria youth unemployment rate increased to 33.1 in July 2017 from 29.5 on a Quarterly basis, rising by 12.2%. Nigeria unemployment rate in Nigeria averaged 10.63 from 2006 until 2017, reaching an all time high of 19.7 % in 2009-10-01 and a record low of 5.1 % in 2010-10-01. Nigeria youth unemployment rate in Nigeria averaged 21.72 from 2014 until 2017, reaching an all time high of 33.1 % in 2017-07-01 and a record low of 11.7 % in 2014-10-01.

Nigeria Economic Policy Nigeria money supply m2 increased to 2.49711e+007 in July 2018 from 2.4814e+007 on a Monthly basis. Nigeria balance of trade increased to 887641 in June 2018 from 768265 on a Monthly basis. Nigeria government budget value increased to -2007.72 in October 2017 from -1396.83 on a Quarterly basis. nigeria interest rate remained stable at 14 in May 2018. Nigeria money supply m2 in Nigeria averaged 9.78318e+006 from 2000 until 2018, reaching an all time high of 2.5169e+007 NGN Million in 2018-05-01 and a record low of 648507 NGN Million in 2000-01-01. Nigeria balance of trade in Nigeria averaged 255052 from 1988 until 2018, reaching an all time high of 2.17755e+006 NGN Millions in 2011-10-01 and a record low of -592201 NGN Millions in 2011-03-01. Nigeria government budget value in Nigeria averaged -435.86 from 2010 until 2017, reaching an all time high of 38.36 NGN Billion in 2010-07-01 and a record low of -2007.72 NGN Billion in 2017-10-01. nigeria interest rate in Nigeria averaged 10.75 from 2007 until 2018, reaching an all time high of 14 % in 2016-07-25 and a record low of 6 % in 2009-07-31.

Nigeria Market Data

Market Variable Type Last Previous Close Return 1 Week Return
NSE All Share (NGSEINDEX) Stock Market Index
Global X MSCI Nigeria ETF Stock Market ETF
Nigerian naira FX 361,50 -0,08

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