The agriculturally based economy was hurt in 1996 by the emergence of the pink mealy bug, which destroyed much of the cocoa harvest. Bananas, a major foreign exchange earner, also suffered due to falling prices, low production, and poor quality. Tourism, the leading foreign exchange earner, continued to do well, as did manufacturing. Construction boomed in 1996 due to concessions for low and middle income mortgages. The tourist industry faces stiff competition over the next few years.
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