The commercial industrial gas market in Spain generated revenues of approximately $1.6 billion in 2014. This is up from $1.3 billion in 2004, indicating an average annual growth rate of 2.1% p.a.
Spanish GDP grew by 1.2% p.a. on average over the past decade (2004-2014). The country suffered from the global financial crisis – Spain has been in recession for four of the past six years. Economic conditions have improved in the past year and the outlooks for the next few years looks more positive.
Industrial production in the country has also suffered – to such an extent that the average annual growth for the decade posted at -1.8%. Although, like GDP, industrial production is set to rebound in the coming years.
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