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The state's Gross Domestic Product (GDP) stood at US$ 17.3 billion in 2003,
registering a growth of 6 per cent over the previous year. The services sector
accounts for three-fourths of the gross state domestic product.
The state has seen a marked improvement in the standard of living. The per
capita income at US$ 341.5 is higher than the national average and has grown at
a CAGR of 12.8 per cent during 1999-00 to 2002-03.
Kerala Economic Review: 2002-03
Agriculture and allied activities remain the dominant source of livelihood in
the state. A predominant feature of agriculture in the state is the cultivation
of cash crops. It is a leading producer of coconut, rubber, pepper, cardamom,
ginger, cocoa, cashew, areca nut and coffee. It is the largest producer of
rubber in the country, accounting for 85 per cent of the country's total land
under rubber cultivation. Providing employment to 1.73 million people, the state
is the third highest in the number of small-scale industries (258,000) in the
country, with a total investment of US$ 769.6 million. The predominance of cash
crop cultivation has led to the growth of a number of agro-based industries
engaged in food, rubber, cashew and coir processing. A recent phenomenon in the
state is the emergence of ayurvedic and biotech-based industries. The state's
traditional strength in tourism coupled with its emergence as an IT destination
has given a fillip to the services sector. The tourism sector accounted
Source: NCAER
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Kerala is the largest producer of:
- Coconut, accounting for 45 per cent of the
country's total production (2001-02)
- Rubber, accounting for 92 per cent (5.9 million tonnes) of the country's total production (2001-02)
- Pepper, accounting for 97 per cent of the
country's total production (1999-2000)
- Cocoa, accounting for 62.8 per cent of the
country's total production (2000-01)
- Areca nut, accounting for 24.1 per cent of the country's total production (2000-01)
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Second largest producer of tapioca, accounting for 37 per cent of the country's total production (2000-01)
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Cashew, accounting for 1 1 per cent of the country's total production
(1999-2000)
for 6.29 per cent of the state's GDP in 2002. The revenues of the state from
the tourism sector grew from US$ 71.6 million in 1998 to US$ 145.8 million in
2002.
The state has emerged as an attractive destination for services sector in the
country. Revenues from the IT sector totalled US$ 82 million with exports
amounting to US$ 65 million.
Source: Kerala Economic Review
2003
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