FACTOID # 2: The top nations for per capita imports and exports tend to be very small.
 
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Africa > Lesotho > Economy

BASOTHO ECONOMY STATS:   Top Stats   All Stats  
View this page with:    Just Stats   Sources   Definitions   Both  
Agriculture > products
corn, wheat, pulses, sorghum, barley; livestock
Aid as % of GDP 4.6% [51st of 129]
Debt > External $689,000,000.00 Time series [129th of 136]
Distribution of family income > Gini index 63.2 Time series [1st of 43]
Economic freedom 1.65 [106th of 156]
Economy > Overview
Small, landlocked, and mountainous, Lesotho relies on remittances from miners employed in South Africa and customs duties from the Southern Africa Customs Union 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 a rapidly expanding apparel-assembly sector. The latter has grown significantly mainly due to Lesotho qualifying for the trade benefits contained in the Africa Growth and Opportunity Act. The economy is still primarily based on subsistence agriculture, especially livestock, 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.
Exports $853,000,000.00 Time series [137th of 189]
GDP $1,476,102,000.00 Time series [141st of 203]
GDP > PPP $4,697,000,000.00 [141st of 163]
GDP > Real growth rate 4.8% Time series [109th of 198]
GINI index 63.2 Time series [1st of 40]
Gross National Income $1,099,020,000.00 [137th of 172]
Human Development Index 0.497 [150th of 178]
Income category Low income
Income distribution > Poorest 10% 0.9% [106th of 114]
Income distribution > Richest 10% 43.4% [12th of 114]
Population below poverty line 49% Time series [3rd of 46]
Population under $1 a day 43.1 [12th of 59]
Poverty > Share of all poor people 0.08 % of world's poor [45th of 80]
Tourist arrivals 144,000 [108th of 152]

... View all Economy stats

SOURCES: CIA World Factbook, 28 July 2005; calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; All CIA World Factbooks 18 December 2003 to 18 December 2008; The Heritage Foundation; World Development Indicators database and CIA World Factbook; World Bank. 2005. World Development Indicators 2005.; World Development Indicators database; ; Human Development Report 2006, United Nations Development Programme; ; World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; World Bank 2002b via backone.pdf; Country Responsibilities in Achieving the Millenium Development Goals", April 8 2003, by Janice Poling; United Nations World Statistics Pocketbook and Statistical Yearbook

ALTERNATIVE NAMES: Lesotho, Kingdom of Lesotho

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COMMENTARY     

Simon Forster
29th November 2005
Lesotho does not sell water to South Africa. Please read the Treay and get your facts correct. South Afirca pays Lesotho a royalty for the permission to divert water that flows into South Africa and is rightfully South African water, at a higher altitude so that it flows under gravity to Gauteng.
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