Goa Economy

Agriculture and Fisheries

Since only 38 percent of Goa’s land area can be used for agriculture, the state is dependent on food imports from the neighboring states of Karnataka and Maharashtra. The plains along the rivers of Mandovi and Zuari are indeed fertile, but also densely populated.

In addition, the salinization of many soils is a major difficulty and there are concerns for the High and Mountain States being infertile, and some densely forested. However, a large proportion of the population is in agriculture. The main crop products are rice, sugarcane, coconut and cashew nuts. To a lesser extent, vegetables and fruits are grown, especially mangoes, bananas, pineapple and jackfruit.  In 2001/02 agriculture contributed 15 percent to Goa’s gross domestic product (GDP).

The fishery in Goa has always been of special importance, and even today, many Goans earn their livelihood there.  The annual catches by far exceed domestic consumption. This has led in recent years to declines in fish yields.
Mining

Despite its small size, Goa is extremely resource-rich. The state is a major iron ore producer in India.  2001/02 saw 11.4 million tons of iron ore encouraged, which corresponded to about 14 percent of India’s entire flow. A large part of which is exported via the port of Mormugao. The main customers are Japan, which buys about half of its exported iron ore from Goa. Besides iron ore, manganese also is being promoted in Goa.
Industrial
Goa had at the end of Portuguese colonial period, no significant industry, yet it is now one of India’s more industrialized states. Approximately one quarter of GDP is generated in the industrial sector. The main industries are food and beverage, metal, wood and paper, rubber, plastics, chemical, pharmaceutical, electrical and textile industries. The computer industry has established itself in recent times.
Services
About half of the gross domestic product of Goans today is accounted by the service sector. It has had, since the mid-1990s, double-digit growth rates. 25 percent of GDP is generated in the banking, insurance and real estate sectors.  20 percent is attributable to tourism, catering, transportation and communication.