Africa > Lesotho > Economy

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Agriculture > products corn, wheat, pulses, sorghum, barley; livestock
Aid as % of GDP	4.6%		[51st of 129]
Debt > External	$689,000,000.00		[129th of 136]
Distribution of family income > Gini index	63.2		[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		[137th of 189]
GDP	$1,476,102,000.00		[141st of 203]
GDP > PPP	$4,697,000,000.00		[141st of 163]
GDP > Real growth rate	4.8%		[109th of 198]
GINI index	63.2		[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%		[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]

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