Lesotho - Economy
How is the economy of Lesotho? Based on the information we have, Lesotho has a lower middle-income economy surrounded by South Africa; environmentally fragile and politically unstable; key infrastructure and renewable energy investments; dire poverty; urban job and income losses due to COVID-19; systemic corruption. Key agricultural products in this country include: milk, potatoes, maize, vegetables, fruits, beans, wheat, game meat, sorghum, wool (2022).
More about the economy of Lesotho
Labor force 1.004 million (2023 est.)
Industrial production growth rate -0.33% (2023 est.)
Industries food, beverages, textiles, apparel assembly, handicrafts, construction, tourism
Population below poverty line 49.7% (2017 est.)
Taxes and other revenues 31.31% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Currency maloti (LSL) per US dollar -
Exchange rates 2023 18.45 (2023 est.)
Exchange rates 2022 16.356 (2022 est.)
Exchange rates 2021 14.779 (2021 est.)
Exchange rates 2020 16.459 (2020 est.)
Exchange rates 2019 14.448 (2019 est.)
Debt - external
Debt - external 2022 $830.976 million (2022 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2019 $774.095 million (2019 est.)
Reserves of foreign exchange and gold 2018 $728.528 million (2018 est.)
Reserves of foreign exchange and gold 2017 $657.668 million (2017 est.)
Current account balance
Current account balance 2023 -$117.501 million (2023 est.)
Current account balance 2022 -$264.265 million (2022 est.)
Current account balance 2021 -$194.1 million (2021 est.)
Public debt
Public debt 2020 2.99% of GDP (2020 est.)
Budget
Revenues $1.13 billion (2022 est.)
Expenditures $947.517 million (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 24.12% of GDP (2023 est.)
Remittances 2022 23.29% of GDP (2022 est.)
Remittances 2021 19.71% of GDP (2021 est.)
Household income
Lowest 10% 1.7% (2017 est.)
Highest 10% 32.9% (2017 est.)
Imports
Imports 2023 $2.058 billion (2023 est.)
Imports 2022 $2.244 billion (2022 est.)
Imports 2021 $2.222 billion (2021 est.)
Imports (partners) South Africa 77%, China 6%, Taiwan 5%, Zimbabwe 4%, India 2% (2022)
Comodities Imports force refined petroleum, fabric, cotton, garments, electricity (2022)
Exports
Imports 2023 $2.058 billion (2023 est.)
Imports 2022 $2.244 billion (2022 est.)
Imports 2021 $2.222 billion (2021 est.)
Exports (partners) South Africa 37%, US 28%, Belgium 19%, UAE 6%, UK 3% (2022)
Comodities Exports force garments, diamonds, water, wool, power equipment (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $5.868 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $5.816 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $5.742 billion (2021 est.)
GDP (official exchange rate) $2.046 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $2,500 (2023 est.)
Real GDP per capita 2022 $2,500 (2022 est.)
Real GDP per capita 2021 $2,500 (2021 est.)
GDP - composition, by sector of origin
Agriculture 6.3% (2023 est.)
Industry 29.5% (2023 est.)
Services 51.4% (2023 est.)
GDP - composition, by end use
Household consumption 88.7% (2022 est.)
Government consumption 34.2% (2022 est.)
Investment in fixed capital 28% (2022 est.)
Investment in inventories 0.3% (2022 est.)
Exports of goods and services 47.2% (2022 est.)
Imports of goods and services -98.5% (2022 est.)
Unemployment rate
Unemployment rate 2023 16.46% (2023 est.)
Unemployment rate 2022 16.67% (2022 est.)
Unemployment rate 2021 18.13% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 24.8% (2023 est.)
Male 17.5% (2023 est.)
Female 34.8% (2023 est.)
All Important Facts about Lesotho

Want to know more about Lesotho? Check all different factbooks for Lesotho below.

Lesotho is found in Southern Africa