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Sectoral Distribution of Gross State Value Added (GSVA) 2020-21 to 2023-24 at Current Prices Rs In Lakh


Kerala’s Gross State Value Added (GSVA) grew steadily from ₹68.58 lakh crore in 2020–21 to ₹102.60 lakh crore in 2023–24. The services sector (like trade, transport, real estate, and finance) remained the biggest contributor, rising from 62.5% to 66.5%. Trade, hotels, and restaurants saw major growth, nearly doubling in value. The manufacturing and construction sector grew in size but its share dropped slightly. Agriculture and related activities also grew in value but made up a smaller share of the total. Construction and real estate continued to rise, showing more investment in buildings and infrastructure. Overall, Kerala’s economy is becoming more focused on services.