The commercial industrial gases market in Laos was estimated to have generated revenues of $6m in 2016. This was up from $2m in 2006, indicating an average annual growth rate of 10.6% p.a. for the decade.
In the 2006-2016 timeframe the GDP of Laos has grown by 14.5% p.a., or 7.7% p.a. when adjusted for inflation. The rate of growth was high at the beginning of the decade, but did slow during the worst year of the financial crisis. In 2015 and 2016 the country experienced good economic growth, resulting in growth rates of 6.0% and 9.8% in 2015 and 2016 respectively.
Report Data: 2017
As our lead feature this month explains, the gases industry has always been a supplier of important welding gases, process gases, welding supplies, cutting machines, and other hardgoods. Here we explore the market drivers for welding gases and hardgoods.
The commercial industrial gases market in the Philippines estimated to have generated revenues of $300 million in 2016. This is up from $110 million in 2006, indicating an impressive average annual growth rate of 11% for the decade.
The commercial industrial gases market in Cambodia is estimated to have generated revenues of over $15 million in 2016. This is up from just less than $6 million in 2006, indicating an average annual growth rate of 10.8% for the decade.
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