The Economy of SPS Nellore district mainly depends on Agriculture & Allied sector. On Agricultural front, as against the net area sown of 2.91 Lakh Hects, the net irrigated area is 2.00 Lakh Hects that accounts for 68.73% of which Canals is 50%, Ground water 42% and 8% of area covered under Tanks & other sources.
Though Agriculture & Allied activities are the principal activities of the district, its contribution to the total economy in terms of GVA is Rs.16,495 Crore (34.11%), Industry sector Rs.11,472 Crore (23.73%) and Services sector contributing Rs.20,385 Crores (42.16%) and thus the GVA of the district stands at Rs.48,353 crores.
The district has registered an impressive GVA Growth Rate of 12.90% during 2017-18 by adding an incremental value of Rs.4,224 crores to the economy over previous year at Constant Prices.
Per Capita Income of the district for the year 2017-18 has raised to Rs.1,56,106 from Rs.1,33,970 (2016-17) at current prices by recording a growth of 16.52%.
GROWTH ENGINES OF THE DISTRICT ECONOMY
The GVA of Agriculture sector is Rs.1763crores for which Paddy – Rs.1283 Crore (72.78%) followed by Groundnut Rs.138Crore (7.81%) and Tobacco Rs.57 crore(3.22%).These three crops are the important Growth Engines which put together contribute 83.81% from Agriculture sector.
The GVA of Horticulture sector is Rs.1251crores and the potential Growth Engines of this sector are Lemon- Rs.493Crores (39.44%), Mango-Rs.167Crores (13.34%) and Banana -Rs.125Crores (10.03%). The above three crops contributed around 62.81% to this sector.
The GVA of Livestock Sector is Rs. 2292 Crore of which Milk is the Major growth engine with Rs.1546Crores (67.45%) followed by Meat with Rs.541 Crores (23.61%),poultry Meat with Rs.82Crores (3.58%) and Egg Rs.44crore (1.90%) which together contribute 96.54% of GVA under this sector.
The GVA of Fishing Sector is Rs.6245 Crores.and the Growth Engines identified under this sector are Prawns contributes Rs.5368Crores. (85.95%), Inland Fish Rs.463Crores. (7.42%) and Marine fish Rs.414 Crores. (6.63%) .
The GVA of the Industry Sector is Rs.9809 Crores. Out of which, Manufacturing Rs.4167 Crores (42.48%), Construction contributes Rs.3690 Crores (37.62%), Electricity Rs.1130 crores (11.52%) , Minor Minerals Rs.817 crore (8.33%) and Major Minerals Rs.5 crore (0.05%).
The GVA of Services sector is Rs.15450 Crore and Trade Rs.3124 Crores (20.22%), Road Transport Rs.2408 crore (15.59%),Ownership of Dwellings Rs.1731 (11.20%), Education Rs.1462 crore(9.46%), Real Estate Rs.816 crore (5.28%), Health Rs.376 crore(2.44%), Hotels and Restaurants Rs.369 Crores (2.39%) and water. Transport Rs. 146 Crores(0.95%) which together 67.52% of GVA under this sector.