| Economy | Lesotho |
 = Fields  = World Records  = Dictionary  = Bar graph  = Distribution map  = Fields History  = Definitions |
Economy - overview:
|
Small, landlocked, and mountainous, Lesotho relies on remittances from Basotho employed in South Africa, customs duties from the Southern Africa Customs Union (SACU), and export revenue for the majority of government revenue. However, the government has recently strengthened its tax system to reduce dependency on customs duties. Completion of a major hydropower facility in January 1998 permitted the sale of water to South Africa and generated royalties for Lesotho. Lesotho produces about 90% of its own electrical power needs. As the number of mineworkers has declined steadily over the past several years, a small manufacturing base has developed based on farm products that support the milling, canning, leather, and jute industries, as well as an apparel-assembly sector. Despite Lesotho's market-based economy being heavily tied to its neighbor South Africa, the US is an important trade partner because of the export sector's heavy dependence on apparel exports. Exports have grown significantly because of the trade benefits contained in the Africa Growth and Opportunity Act. Most of the labor force is engaged in subsistence agriculture, especially livestock herding, although drought has decreased agricultural activity. The extreme inequality in the distribution of income remains a major drawback. Lesotho has signed an Interim Poverty Reduction and Growth Facility with the IMF. In July 2007, Lesotho signed a Millennium Challenge Account Compact with the US worth $362.5 million. Economic growth dropped in 2009, due mainly to the effects of the global economic crisis as demand for the country's exports declined and SACU revenue fell precipitously when South Africa - the primary contributor to the SACU revenue pool - went into recession, but growth returned to 3.6% in 2010 and 5.2% in 2011. |
GDP (purchasing power parity):
|
$3.672 billion (2011 est.)
$3.468 billion (2010 est.)
$3.366 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$1,400 (2011 est.)
$1,400 (2010 est.)
$1,400 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$2.7 billion (2011 est.) |
GDP - real growth rate:
|
5.2% (2011 est.)
3.6% (2010 est.)
3.1% (2009 est.) |
GDP - composition by sector:
|
agriculture: 8.4%
industry: 34.2%
services: 57.3% (2011 est.) |
Investment (gross fixed):
|
29.6% of GDP (2011 est.) |
Population below poverty line:
|
49% (1999) |
Household income or consumption by percentage share:
|
lowest 10%: 1%
highest 10%: 39.4% (2003) |
Distribution of family income - Gini index:
|
63.2 (1995)
56 (1986-87) |
Inflation rate (consumer prices):
|
7.2% (2011 est.)
3.6% (2010 est.) |
Central bank discount rate:
|
10% (31 December 2010 est.)
10.66% (31 December 2009 est.) |
Commercial bank prime lending rate:
|
13% (31 December 2011 est.)
11.2% (31 December 2010 est.) |
Stock of money:
|
$416.5 million (31 December 2008)
$439.2 million (31 December 2007) |
Stock of money - per capita:
|
217 USD per capita |
Stock of quasi money:
|
$108.1 million (31 December 2008)
$160.2 million (31 December 2007) |
Stock of quasi money - per capita:
|
57 USD per capita |
Stock of domestic credit:
|
$82.19 million (31 December 2011 est.)
$60.61 million (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
43 USD per capita |
Stock of narrow money:
|
$588.4 million (31 December 2011 est.)
$588.6 million (31 December 2010 est.) |
Stock of broad money:
|
$1.189 billion (31 December 2011 est.)
$1.057 billion (31 December 2010 est.) |
Labor force:
|
854,600 (2007 est.) |
Labor force participation rate:
|
44.40 % of population |
Labor force - by occupation:
|
agriculture: 86% of resident population engaged in subsistence agriculture; roughly 35% of the active male wage earners work in South Africa
industry and services: 14% (2002 est.) |
Unemployment rate:
|
45% (2002) |
Unemployment, youth ages 15-24:
|
void |
Budget:
|
revenues: $1.233 billion
expenditures: $1.603 billion (2011 est.) |
Budget revenues per capita:
|
641 USD per capita |
Taxes and other revenues:
|
45.7% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
-13.7% of GDP (2011 est.) |
Public debt:
|
void |
Industries:
|
food, beverages, textiles, apparel assembly, handicrafts, construction, tourism |
Industrial production growth rate:
|
3% (2010 est.) |
Electricity - production:
|
200 million kWh
note: electricity supplied by South Africa (2008 est.) |
Electricity - production per capita:
|
104 kWh per capita |
Electricity - consumption:
|
236 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
123 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
107 million kWh; note - electricity supplied by South Africa (2009 est.) |
Oil - production:
|
0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
2,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
0.38 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2009 est.) |
Oil - imports:
|
1,690 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
corn, wheat, pulses, sorghum, barley; livestock |
Current account balance:
|
-$415.7 million (2011 est.)
-$433.4 million (2010 est.) |
Current account balance - per capita:
|
-215 USD per capita |
Exports:
|
$978.9 million (2011 est.)
$823.2 million (2010 est.) |
Exports per capita:
|
509 USD per capita |
Exports - commodities:
|
manufactures 75% (clothing, footwear, road vehicles), wool and mohair, food and live animals |
Exports - partners:
|
US 58.4%, Belgium 34%, Canada 3.7% (2010) |
Imports:
|
$2.335 billion (2011 est.)
$1.885 billion (2010 est.) |
Imports per capita:
|
1,214 USD per capita |
Imports - commodities:
|
food; building materials, vehicles, machinery, medicines, petroleum products |
Imports - partners:
|
South Korea 26.9%, China 23.1%, Taiwan 22.1%, Hong Kong 6.6%, US 4.4% (2010) |
Reserves of foreign exchange and gold:
|
$946.5 million (31 December 2011 est.)
$918.6 million (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
492 USD per capita |
Debt - external:
|
$690.6 million (31 December 2011 est.)
$666.2 million (31 December 2010 est.) |
Debt - external - per capita:
|
359 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
void |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
loti (LSL); South African rand (ZAR) |
Exchange rates:
|
maloti (LSL) per US dollar -
7.3 (2011 est.)
7.32 (2010 est.)
8.47 (2009)
7.75 (2008)
7.25 (2007) |
Fiscal year:
|
1 April - 31 March |
|
= Fields = World Records = Dictionary = Bar graph = Distribution map = Fields History = Definitions |
|
Home 
Geographic Names
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
