In 2016, the North African industrial gases business – incorporating Algeria, Egypt, Libya, Morocco and Tunisia – generated revenues of $330m, up from $150m in 2006, indicating an average annual growth rate of just over 8%.
Egypt is by far the largest gases market in the region, generating revenues of around $125m, or 38% of the regional business.
The political unrest that engulfed the region in 2011 (which led to new governments in Tunisia, Libya and Egypt) depressed economic growth markedly in that year. Since the ‘Arab Spring’, a period of economic instability has continued for Tunisia and Libya. Egypt, however, has experienced year-on-year growth since.
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