The commercial gas market in Croatia reached revenues of $67 million in 2018. This was up from $58 million in 2008. However due to rises and falls in the market the market experienced a 1.8% p.a. YoY growth rate for the decade.
Prior to the global financial crisis, GDP growth was steady and positive, at around 3% and 6% p.a. between 2000 and 2007. The economic crisis hit the country hard, with negative growth rates in GDP up until 2015. In 2015, Croatia experienced its first growth rate since the crisis, with a rate of 2.3% YoY. In 2018 the rate remained at a stable 2.8%.
Within the 2018-2023 timeframe, gasworld business intelligence predict growth from 2.8% p.a. in a low scenario to 4.0% p.a. in a high scenario. Accordingly, the industry in Croatia is expected to achieve revenues of between $79m to $85m by 2023.
Report Data: 2018
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