In the fiscal year 2018–19, the nominal gross state domestic product (GSDP) was ₹7.82 lakh crore (US$100 billion).[91] GSDP growth; 11.4% in 2018–2019[91] and 10.5% in 2017–2018[91] had been high compared to an average of 2.3% annually in the 1980s and between 5.1%[92]: 8 and 6.0%[93] in the 1990s.[92]: 8 The state recorded 8.9% growth in enterprises from 1998 to 2005, higher than the national rate of 4.8%.[94][95] The "Kerala phenomenon" or "Kerala model of development" of very high human development and in comparison low economic development has resulted from a strong service sector.[7]: 48 [96]: 1 In 2019–20, the tertiary sector contributed around 63% of the state's GSVA, compared to 28% by secondary sector, and 8% by primary sector.[97] In the period between 1960 and 2020, Kerala's economy was gradually shifting from an agrarian economy into a service-based one.[97]