Economy of West Bengal - Economic Indices

Economic Indices

In terms net state domestic product (NSDP), West Bengal has the sixth largest economy (2009–2010) in India, with an NSDP of 366,318 crore Indian rupees, behind Maharashtra (817,891 crores), Uttar Pradesh (453,020 crores), Andhra Pradesh (426,816 crores), Tamil Nadu (417,716 crores), and Gujarat (370,400 crores). In the period 2004–2005 to 2009–2010, the average gross state domestic product (GSDP) growth rate was 13.9% (calculated in Indian rupee term), lower than 15.5%, the average for all states of the country. According to data from India Brand Equity Foundation, at current prices, the GSDP of West Bengal was about US$ 84.4 billion in 2009–10. The state’s per capita GSDP at current prices in 2009–10 was US$ 956.4, improved from US$ 553.7 in 2004–05, but lower than the national per capita GSDP of US$ 1,302. In 2009–10, the tertiary sector of the economy (service industries)) was the largest contributor to the gross domestic product of the state, contributing 57.8% of the state domestic product compared to 24% from primary sector (agriculture, forestry, mining) and 18.2% from secondary sector (industrial and manufacturing). At a compound annual growth rate of 15.2%, the tertiary sector has been the fastest growing among the three sectors from 2004–05 to 2009–10. The growth has been driven by trade, hotels, real estate, finance, insurance, transport, communications and other services. The state's total financial debt stood at 191,835 crore (US$34.91 billion) as of 2011.