As of 2014-15, Mizoram had a Gross State Domestic Product (GSDP) of US$ 1.75 billion at current prices. According to the estimates, the GSDP is projected to reach US$ 2.36 billion and US$ 2.65 billion for 2015-16 and 2017-2018 respectively.
The tertiary sector makes the largest contribution to GSDP, at 57.69% per cent during 2014-15. It is followed by primary sector (26.05%) and secondary sector (16.26per cent). Between 2004-05 and 2014-2015, the contributions of primary and tertiary sectors have decreased marginally whereas the secondary sector’s contribution to GSDP has increased.
The rate at which primary sector has grown during this period is higher than that in the tertiary and secondary sectors. While the tertiary sector increased at a rate of 10.9 per cent, the secondary and primary sectors grew at a CAGR of 11.3 and 12.3 per cents.
Trade, hospitality, finance, insurance, communications and transport are the main drivers for the growth of tertiary sector. Construction, manufacturing and electricity and gas & water supply are responsible for the growth of secondary sector.
About 60 per cent of the total workforce in Mizoram are engaged in agriculture and allied activities. Paddy is the principal crop in Mizoram. Champhai distrit is the known as "The Rice bowl of Mizoram".
Palm oil cultivation has grown significantly. During 2014-15, Mizoram had 20,338 hectares under palm oil cultivation, which is about 15.6 per cent of the total estimated potential area of 1.01 lakh hectares. Government of Mizoram is taking initiatives to boost palm oil cultivation in the state.
The soil, topography and Agro-climatic conditions in Mizoram are conducive to growing a wide range of fruits, vegetables, spices, medicinal and aromatic plants and exotic flowers. The state accounts for about 13.2 per cent of the total fruits produced in the Northeast region.
The total area under horticulture is150,401 hectares which account for 10.5 per cent of the total estimated potential area of 1.2 million hectares. The soil, topography and Agro-climatic conditions in Mizoram are conducive to growing a wide range of fruits, vegetables, spices, medicinal and aromatic plants and exotic flowers. The state accounts for about 13.2 per cent of the total fruits produced in the Northeast region.
The Mizoram government's flagship programme, New Land Use Policy (NLUP), which was launched in 2011, has assisted poor farmers to abandon destructive jhum (shifting) cultivation and change to permanent systems of farming.
Cultivation of bamboo is carried on a large sale in Mizoram whose bamboo growing stock account for 14 per cent of the total stock in India.
Mizoram contributes to 14 per cent of the country’s growing stock of bamboo.