The commercial industrial gases market in the Czech Republic was estimated to have generated revenues of $401m in 2016. This was up from $129m in 2006, indicating an average annual growth rate of 12% p.a. for the decade.
Between 2006 and 2016 GDP grew by an average of 2.2% p.a., or 1.6% p.a. when adjusted for inflation. The country has thus recorded reasonably stable growth during the last decade and has benefited from its integration into the EU since 2004. The onset of the global financial crisis in 2008-09 did have a marked impact on the economy, with exports especially to parts of Western Europe plunging. As a result, GDP in 2009 contracted by 4.8% (inflation-adjusted).
Report Data: 2016