The commercial industrial gas market generated revenues of just under $1.15bn in 2016. This is up from just under $1.07bn in 2006, indicating an average annual growth rate of 0.7% p.a.
The Spanish economy was hit hard by a prolonged recession in the wake of the global financial crisis that began in 2008. However, GDP growth rates in the last two years look promising, with growth rates of 3.2% in 2015 and 2016, respectively.
Industrial production (as measured by IPI) has experienced several periods of decline over the course of the last decade. The most notable period of decline was experienced during the 2008-09 financial crisis, where industrial production fell by 2.3% and 10.2% in 2008 and 2009 respectively. The IPI rate also declined in 2013 and 2014, but has begun to recover, with a growth rate of 2% in 2015, and 2% in 2016.
Inflation rates have varied over the last decade but has remained virtually flat of the course of the last 2 years.
Report Data: 2017
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