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The economy was primarily agricultural at the time
of Independence, but has now diversified. Agriculture, although still the
most important sector, now contributes less than one-fourth of the GNP,
while manufacturing provides almost one-fifth. GNP has increased at an average
rate of more than 5 percent a year since independence but has slowed down
in recent years. Remittances from migrant workers in the Gulf make a significant
contribution to the country's foreign exchange earnings. At the same time,
there has been a relentless increase in population. Hence, despite real
growth in the economy, output per capita has risen slowly. |