Sri Lanka is historically famous for its cinnamon and tea (introduced by the British in the 19th century). From independence, till 1977, it was a strongly socialist economy but since then it has been increasingly pursuing privatization, market-oriented policies and export-oriented trade. While tea and rubber are still important, the most dynamic sectors are now food processing, textiles and apparel, food and beverages, telecommunications, insurance and banking. By 1996, plantation crops made up only 20 percent of exports (compared with 93 percent in 1970), while textiles and garments accounted for 63 percent.