The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: Despite the fact that World Bank considers Gabon an upper-middle-income country, its retail
sector is small and underdeveloped. Over the near term, Gabon's oil-dependent economy will continue to
suffer from lower export revenues, which will weigh on public spending and overall business confidence.
While low inflation and government subsidies for basic food product will provide some respite, we expect
household spending levels to remain subdued over the next few quarters.
Key Views & Developments
- Headline household spending is forecast to grow by an annual average of 8.5% during 2016-2020. This
will lift the total spending figure from an estimated USD5.5bn in 2015 to USD8.3bn in 2020.
Essential goods and services will increase their share in the total household spending from 76.0% in 2015
to 76.6% in 2020. Food & drink will remain by far the largest spending category, accounting for more
than 33% of total household spending.