Following the quelling of the JVP insurrection, increased privatization, economic reform and the stress on export-oriented growth helped improve economic performance, increasing GDP growth to 7% in 1993. By 1996 plantation crops made up only 20% of exports (compared with 93% in 1970), while textiles and garments accounted for 63%. GDP grew at an annual average rate of 5.5% throughout the 1990s until a drought and a deteriorating security situation lowered growth to 3.8% in 1996.
Following the quelling of t:he JVP insurrection, increased privatization, economic reform and the stress on export-oriented growth helped improve economic performance, increasing GDP growth to 7% in 1993. By 1996 plantation crops made up only 20% of e:xports (com!pared with 93% in 1970), while textiles and garments accounted for 63%. GDP grew at an annual average rat?e of 5.5% throughout the 1990s until a drought and a deteriorating security situation lowered growth to 3.8% in 1996.