Gujarat has experienced high economic growth rates in recent years. Its Gross State Domestic Product (GSDP) grew at a compound annual growth rate (CAGR) of 13.47% from 2011-12 to 2016-17. The state's per capita GSDP increased from Rs. 101,075 in 2011-12 to Rs. 178,043 in 2016-17, registering a CAGR of 11.99%. Gujarat is one of the most industrially developed states in India and is a leading exporter, accounting for about a quarter of India's total goods exports despite having only 5% of India's population.