Goa Economy has grown at a very fast pace, at the rate of around 8.23% per year from 1990 to 2000. The gross domestic product of the state of Goa amounted to Rs. 12,570 million in 1990, in 1995 this figure amounted to Rs. 33,190 million, and in 2000 this figure stood at Rs. 76,980 million. The Economy of Goa depends on the agricultural, industrial, mining, and tourism sectors.
The Economy of the state of Goa depends for its revenue on the agricultural sector. The various kinds of crops grown in Goa are rice, maize, bajra, ragi, pulses, and jowar. The state also produces cash crops such as cashew- nut, coconut, pineapple, jack fruit, and mango. In Goa, cashew- nut is an important cash crop for it is used in the manufacture of Feni which is an intoxicating drink. The cultivation of sugarcane has also started in the state as a sugar factory has been set up. Goa produces a wide variety of mangoes like mussarade, alfonsa, fernandine, mancurade, colaco, and xavier. In the state, the irrigation sources are rivers, tanks, canals, wells, and streams. This sector has contributed to the growth of the Economy in Goa.
The Economy in the state of Goa also gets its revenue from the industrial sector. There are many industries in Goa that manufacture tyres, fertilizers, chemicals, wheat products, pesticides, steel rolling, fish and fruit canning, brewery products, textile, footwear, and pharmaceuticals. As the state has a useful and efficient sea network, the industrial sector is able to export its products to foreign countries. This has boosted the industrial sector in the state which in turn has helped the Economy of Goa to grow.
The Economy in Goa depends for its revenue on the mining sector which is the 2nd biggest industry in the state. The various kinds of minerals found in Goa are iron ore, clay, high magnesia, manganese, limestone, and bauxite. The total production of mineral was 137.37 lakh tonnes in 1996- 1997. This sector provides employment to more than 21,000 people. The sector of mining has given a major boost to the Economy of the state of Goa.
Goa Economy depends to a very large extend on the tourism sector. The state of Goa gets almost 12% of all the foreign tourists that visit India. The state handled 2 million tourists in 2004. Goa's pristine beaches, Gothic churches, cuisine, temples, and cultural festivals attract the tourist to visit Goa again and again. The sector of tourism has contributed a great deal to the growth of the Economy of Goa. The other sectors that contribute to the Economy of the state of Goa are the fishing industry, electronic industry, and cottage industry.
Goa Economy has witnessed tremendous growth over the last few years. This has happened due to the contribution of a great many sectors.