Iraq's economy is ominated by the petroleum sector, which has traditionally provided about 95% of foreign exchange earnings.(pdf) In the 1980s, financial problems caused by massive expenditures in the eight-year war with Iran and damage to oil export facilities by Iran led the government to implement austerity measures, borrow heavily, and later reschedule foreign debt payments; Iraq suffered economic losses of at least $100 billion from the war. After the end of hostilities in 1988, oil exports gradually increased with the construction of new pipelines and restoration of damaged facilities. Current GDP per capita of Iraq grew 56% in the Sixties reaching a peak growth of 57% in the Seventies. But this proved unsustainable and current GDP per capita consequently shrank by 23% in the eighties