Within the 2018-2023 timeframe, accordingly, our forecast models predict growth from 6.8% p.a. in a low scenario to 8.6% p.a. in a high scenario. This should see the industry in Belarus achieve revenues of between $30 million to $33 million by 2023.
The commercial industrial gas market in Belarus generated revenues of $25 million in 2018. This is up from $4 million in 2008, indicating an impressive average annual growth rate of 20.6% p.a.
Belarus is currently under the control of a dictatorial government, which is stunting the economy and growth in a number of areas. Over the past decade (2008-2018), GDP increased by approximately 2.8% on average annually (inflation adjusted). Since 2011, growth has been erratic in Belarus, with a low GDP rate of 2.3% in 2018.
Published: 2020
Report Data: 2019
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