The commercial industrial gases market in Serbia is estimated to have generated revenues of $54 million in 2015. This is up from $37 million in 2005, indicating an average annual growth rate of 4.0% for the decade.
During the period of 2005 to 2015 average (nominal) GDP growth came to 0.3% p.a. however there was a decline of -2.1% when adjusted for inflation. Economic growth in the country has suffered in the last two years, with declines of -6.6% and -9.9% in 2014 and 2015 respectively. This is partly due to the current conflict in the Crimea.
Report Data: 2015
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