Economy of Andhra Pradesh
Visakhapatnam, the financial capital of Andhra Pradesh | |
| 1 April – 31 March | |
| Statistics | |
| Population | 53,448,000 (2024) |
| GDP | ₹18.3 lakh crore (US$216 billion) (2025-26 est.) |
| GDP rank | 8th |
GDP growth | 8.21%(2024–25) |
GDP per capita |
|
GDP per capita rank | 15th |
GDP by sector | Agriculture 37% Industry 23% Services 40% (2023–24) |
Population below poverty line | 2.2% in poverty (2022-23) |
| 0.679 medium (2022) | |
| Unemployment | 6.0% (Nov 2020) |
| Public finances | |
| 35% of GSDP (2025–26 est.) | |
| ₹−48,724 crore (US$−5.8 billion) (3.64% of GSDP) (2022–23 est.) | |
| Revenues | ₹1.91 lakh crore (US$23 billion) (2022–23 est.) |
| Expenses | ₹2.40 lakh crore (US$28 billion) (2022–23 est.) |
All values, unless otherwise stated, are in US dollars. | |
The economy of the Indian state of Andhra Pradesh is primarily dependent on agriculture, which directly and indirectly employs 62% of the population. GSDP as per the first revised estimate, for the year 2023-24 is ₹15,40,000 crore. 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%. The state GSDP is expected to grow at a rate of 17% for the year 2023-24.
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).
The state has been ranked the best state in ease of doing business in the country for the year 2016 by the World Bank. The state is undertaking the construction of large scale infrastructure projects, the Andhra Pradesh state government is also approving various new infrastructure projects.