The commercial industrial gas market in Macedonia produced $20.2 million in revenues in 2018. This was up from $7.6 million in 2008, indicating an average annual growth rate of 10.9% p.a.
Macedonia’s GDP grew by an average of 4.3% on a yearly basis until the 2008 economic crisis, when its economy contracted with the rest of the world.
Within the 2018-2023 timeframe, gasworld business intelligence predict growth from 2.3% p.a. in a low scenario to 4.6% p.a. in a high scenario. Accordingly, the industry in Macedonia is expected to achieve revenues of between $24m to $28.3m by 2023.
Published: 2020
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