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Unsold Inventory Dips By 33.4% In 2021
Available data obtained from the Manufacturers Association of Nigeria shows that the inventory of finished but unsold manufactured products dropped by 33.4 percent to N384.58 billion in 2021 from N577.61 billion recorded in 2020. MAN said that manufacturing inventory of unsold finished products in key segments dipped to N169.75 billion in the second half of…
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Manufacturing Sector GDP Rises 3.35%
Analysis of the Q4 2021 Gross Domestic Product report of the National Bureau of Statistics has shown that the manufacturing sector bounced back to growth with N6.5 trillion in 2021, representing 3.35 per cent growth from N6.29 trillion in 2020. The sector had recorded a contraction of 2.75 per cent in 2020 from N6.47 trillion…
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Nigeria Imports N13.7tn Manufactured Goods In Nine Months
Data from the National Bureau of Statistics showed that Manufactured goods valued at N13.7tn were imported into Nigeria from January to September this year. The country exported N757bn worth of manufactured goods in the nine-month period, accounting for 0.06 per cent of the total trade of N14.3tn. Manufactured goods imported into the country included antibiotics,…
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Manufacturing Output Hits N7tn In Q3′ 2021
According to data contained in the latest Gross Domestic Product report released by the Nigerian Bureau of Statistics, in the third quarter of the year, the manufacturing sector recorded a total output of N7.1tn. The N7.1tn is higher than N5.4tn recorded in the second quarter of 2021. The output of N7.1tn for Q3 2021 also…
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Manufactured Imports Exceed Exports By N4.3tn
Figures obtained from the National Bureau of Statistics has shown that the value of manufactured goods imported into the country exceeded exports by N4.37tn in the second quarter of 2021 NBS stated that the value of manufactured goods trade in Q2, 2021 stood at N4.51tn representing 37.50 percent of total trade. “Out of this, the…
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Manufacturing Sector Records N12.2tn In 6 Months
According to the National Bureau of Statistics, the manufacturing sector recorded a total output of N12.2tn in the first half of the year. Data obtained from the Gross Domestic Product report show that aggregate manufacturing output in the first and second quarters stood at N6.1tn each. The total output of N12.2tn for H1 2021 represents…
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Manufacturing Sector Records N6.99tn Growth
The aggregate monetary value of the manufacturing sector’s output rose from N12.45 trillion to N19.44 trillion between December 2018 and December 2020. This showed an increase of N6.99trillion or 34.78 percent in total manufacturing output within the two-years period. The figures were obtained from the National Bureau of Statistics after analysing the Gross Domestic Product…
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Manufacturing Sector Grew Slightly In April
The Central Bank of Nigeria has disclosed in its Monetary Policy Committee report that the manufacturing sector recorded marginal growth as the Purchasing Managers’ Index rose to 49.0 index points in April from 48.8 index points in March 2021. It said, “The committee noted the marginal growth in the Manufacturing Purchasing Managers’ Index to 49.0…