Punjab has emerged as a key hub for textile based industries including yarn,readymade garments and hosiery. The industry accounts for more than 40 percent share of the total exports of the state. Punjab is also a leading exporter of rice, including the well-known variety: Basmati.
The Gross State Domestic Product (GSDP) of Punjab was US$ 34.5 billion in 2008-09. The compound annual growth rate (CAGR) of GSDP from 2002-03 to 2008-09, was about 11.07 per cent. Punjab ranks 13thamongst the all Indian states in terms of GSDP. Agriculture and services are the two sectors that drive the state’s economy.
The tertiary sector was driven, mainly, by trade and hotels and restaurants that comprised 39 per cent. The primary and secondary sectors together, account for about 84 per cent of the GSDP. All the three sectors have recorded similar growth rates of 8 per cent to 10 per cent between 2000-01 and 2008-09. The state’s per capita GSDP in 2008-09 was US$1,234.7State Presentation (April 2010)
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