Within the 2018-2023 timeframe, our forecast models predict growth from 6.4% p.a. in a low scenario to 10.2% p.a. in a high scenario. Accordingly, the industry in Estonia is expected to achieve revenues of between $36 million to $43 million by 2023.
The commercial industrial gas market in Estonia generated revenues of $26.6 million in 2018. This is up from $17.1 million in 2008, indicating an average annual growth rate of 4.9% p.a.
Over the past decade to 2018 GDP increased by approximately 4.1% on average annually. In 2008 and 2009, the global financial crisis stalled growth falling to -14.4% in the worst year of the crisis. However, the economy recovered quickly and has since posted high growth rates over the last 10 years. The rate was measured at 7.8% in 2018.
Published: 2020
Report Data: 2019
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