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Country Report Nigeria February 2011
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HTMLOutlook for 2011-15: Forecast summary
| Forecast summary | ||||||
| (% unless otherwise indicated) | ||||||
| 2010a | 2011b | 2012b | 2013b | 2014b | 2015b | |
| Real GDP growth | 7.9 | 5.7 | 6.6 | 6.9 | 7.1 | 6.9 |
| Industrial production growth | 4.4 | 3.2 | 2.4 | 3.2 | 3.8 | 3.7 |
| Gross agricultural production growth | 6.0 | 5.5 | 5.8 | 5.6 | 5.5 | 5.2 |
| Consumer price inflation (av) | 13.7 | 12.7 | 11.4 | 10.3 | 9.6 | 9.1 |
| Consumer price inflation (end-period) | 11.7 | 13.6 | 10.8 | 9.9 | 9.3 | 8.9 |
| Commercial lending rate | 17.5 | 16.0 | 14.0 | 14.0 | 14.0 | 13.5 |
| Government balance (% of GDP) | -5.9 | -4.6 | -4.4 | -4.3 | -4.2 | -4.5 |
| Exports of goods fob (US$ bn) | 83.1 | 98.8 | 95.2 | 98.1 | 100.9 | 108.5 |
| Imports of goods fob (US$ bn) | 42.2 | 50.2 | 55.1 | 62.0 | 66.5 | 71.3 |
| Current-account balance (US$ bn) | 27.4 | 33.7 | 25.4 | 21.6 | 19.6 | 22.0 |
| Current-account balance (% of GDP) | 11.0 | 11.8 | 8.4 | 6.8 | 5.8 | 6.0 |
| External debt (end-period; US$ bn) | 13.0 | 14.9 | 15.8 | 17.5 | 19.7 | 21.9 |
| Exchange rate N:US$ (av) | 150.0 | 154.7 | 160.0 | 165.0 | 170.0 | 177.0 |
| Exchange rate N:US$ (end-period) | 152.3 | 157.3 | 162.5 | 167.5 | 173.5 | 180.5 |
| Exchange rate N:¥100 (av) | 170.44 | 187.69 | 194.21 | 203.70 | 207.00 | 211.98 |
| Exchange rate N:€ (end-period) | 204.1 | 188.8 | 193.4 | 196.0 | 202.1 | 212.0 |
| a Economist Intelligence Unit estimates. b Economist Intelligence Unit forecasts. | ||||||
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