The commercial industrial gases market in Myanmar was estimated to have generated revenues of $35m in 2016. This was up from just over $10m in 2006, indicating an average annual growth rate of 13.7% p.a. for the decade.
Between 2006 and 2016 nominal GDP grew by an average of 14.8% p.a. or 6.9% p.a. when adjusted for inflation. The economy in Myanmar has developed rapidly over the course of the last decade, with GDP consistently posting double digit growth. There were declines in both 2012 and 2015, however the rate of GDP growth has since recovered quickly.
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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