Economy of Andhra Pradesh
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The economy of the Indian state of Andhra Pradesh is primarily dependent on agriculture, which directly and indirectly employs 62% of the population.[9] GSDP as per the first revised estimate, for the year 2023-24 is ₹15,90,242 crore.[10][failed verification] The state is ranked 1st in the country for the year 2021-22 in terms of the Gross State Domestic Product (GSDP) growth at constant prices with growth rate of 11.43%. [11]
Quick Facts Fiscal year, Statistics ...
1 April – 31 March | |
Statistics | |
GDP | ₹14.49 lakh crore (US$181 billion) (2023–24 AE) [1] |
GDP rank | 8th |
GDP growth | 16.22%(2022–23 AE)[2] |
GDP per capita | ₹270,295 (US$3,385) (2023–2024 AE)[3] |
GDP per capita rank | 16th |
GDP by sector | Agriculture 40% Industry 19% Services 41% (2020–21)[4] |
Population below poverty line | 2.2% in poverty (2022-23)[5] |
0.650 medium (2018) (27th)[6] | |
Labour force by occupation | Agriculture 55% Industry 10% Services 35% (2015)[7] |
Unemployment | 6.0% (Nov 2020)[8] |
Public finances | |
32.79% of GSDP (2022–23 est.)[4] | |
₹−48,724 crore (US$−6.1 billion) (3.64% of GSDP) (2022–23 est.)[4] | |
Revenues | ₹1.91 lakh crore (US$24 billion) (2022–23 est.)[4] |
Expenses | ₹2.40 lakh crore (US$30 billion) (2022–23 est.)[4] |
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The state achieved overall 4th rank in SDG India Report for the year 2020-21, with first rank in SDG-7 (affordable energy) & second rank in Goal-14 (Life below water).[2]
The state has been ranked the best state in ease of doing business in the country for the year 2016 by the World Bank.[12]