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Answer: The economy of Andhra Pradesh is one of the fastest growing economies in India, with growth outstripping that of the wider Indian economy in the past few years. The GSDP at constant (2011-12) Prices for the year 2018-19 (Advance Estimates) is estimated at ₹850,000 crores as against ₹490,134 crores for 2015-16 (First Revised Estimates) indicating a growth of 11.61%. Per Capita Income at current prices increased to ₹122,376 from ₹108,163 in 2015-16 registering a growth of 13.14%.[7]
The economy is primarily dependent on agriculture, which directly and indirectly employs 62% of the population.[7] The state has been ranked the best state in ease of doing business in the country by the World Bank.[8]
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Andhra Pradesh was ranked eighth among other Indian states in terms of GSDP for the financial year 2014–2015. The GSDP at current prices was ₹5,200.3 billion (US$73 billion) and at constant prices was ₹2,645.21 billion (US$37 billion).The domestic product of agriculture sector accounts for ₹545.99 billion (US$7.7 billion) and industrial sector for ₹507.45 billion (US$7.1 billion). The service sector of the state accounts more percentage of the GSDP with a total of ₹1,305.87 billion (US$18 billion). In the 2010 list by Forbes magazine, several people from Andhra Pradesh were among the top 100 richest Indians