Within the 2018-2023 timeframe, our forecast models predict growth from 4.0% p.a. in a low scenario to 4.2% p.a. in a high scenario. This should see the industry in Laos achieve revenues of between $4.1m to $4.2m by 2023.
The commercial industrial gases market in Laos was estimated to have generated revenues of $3.1m in 2018. This was up from $1.6m in 2008, indicating an average annual growth rate of 6.7% p.a. for the decade.
In the 2008-2018 timeframe the GDP of Laos has grown by 13.1% p.a. The rate of growth was high at the beginning of the decade, but did slow during the worst year of the financial crisis. In 2017 and 2018 the country experienced good economic growth, resulting in growth rates of 7.2% and 6.2% in 2017 and 2018 respectively.
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