The commercial industrial gases market in Bahrain is estimated to have generated revenues of $35 million in 2016. This is an increase from $17 million in 2006, indicating an average annual growth rate of 7.3% p.a.
Bahrain is an oil-based economy but for some years now it has been reducing investment in its petrochemical sector so it can focus on becoming a service led industry (e.g. banking). GDP growth has experienced extended periods of strong growth over the course of the last decade. However, there was a sharp decline during the financial crisis. Furthermore, the rate of GDP declined by -8.7% in 2015, but recovered sslightly by 2.5% in 2016.
Report Data: 2016
Economic modernisation, the arrival of the multinationals, and the emergence of new industrial gas trends and technologies are driving change in the Middle East. What better time to explore the dynamics of the Iranian, Iraqi and GCC markets as part of a wider new industrial gas frontier?
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