In 1996 and 1997 there was a decrease in GDP largely due to significant problems in the financial sector and, in 1997, a severe island-wide drought (the worst in 70 years) and hurricane that drastically reduced agricultural production. In 1997 and 1998, nominal GDP was approximately a high of about 8 percent of GDP and then lowered to 4½ percent of GDP in 1999 and 2000. The economy in 1997 was marked by low levels of import growth, high levels of private capital inflows and relative stability in the foreign exchange market.