Support Our Sponsor
. . Flags of the World Maps of All Countries

  • |SEARCH|
  • |Main INDEX|
  • 2006 INDEX
  • Country Ranks
  • DEFINITIONS

    Lesotho Index 2006

    Lesotho Main Index


    . Feedback
  • geographic.org Home PageCountry Index

    Lesotho Economy - 2006
    https://theodora.com/wfbcurrent/lesotho/lesotho_economy.html
    SOURCE: 2006 CIA WORLD FACTBOOK

      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 now permits the sale of water to South Africa, also generating royalties for Lesotho. 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.

      GDP (purchasing power parity):
      $6.064 billion (2005 est.)

      GDP (official exchange rate):
      $1.355 billion (2005 est.)

      GDP - real growth rate:
      0.8% (2005 est.)

      GDP - per capita (PPP):
      $3,000 (2005 est.)

      GDP - composition by sector:
      agriculture: 15.4%
      industry: 44.2%
      services: 40.4% (2005 est.)

      Labor force:
      838,000 (2000)

      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%

      Unemployment rate:
      45% (2002)

      Population below poverty line:
      49% (1999)

      Household income or consumption by percentage share:
      lowest 10%: 0.9%
      highest 10%: 43.4%

      Distribution of family income - Gini index:
      63.2 (1995)

      Inflation rate (consumer prices):
      4.7% (2005 est.)

      Investment (gross fixed):
      29.5% of GDP (2005 est.)

      Budget:
      revenues: $738.5 million
      expenditures: $792.1 million; including capital expenditures of $15 million (2005 est.)

      Agriculture - products:
      corn, wheat, pulses, sorghum, barley; livestock

      Industries:
      food, beverages, textiles, apparel assembly, handicrafts, construction, tourism

      Industrial production growth rate:
      15.5% (1999)

      Electricity - production:
      350 million kWh; note - electricity supplied by South Africa (2003)

      Electricity - consumption:
      363.5 million kWh (2003)

      Electricity - exports:
      0 kWh (2003)

      Electricity - imports:
      38 million kWh; note - electricity supplied by South Africa (2003)

      Oil - production:
      0 bbl/day (2003 est.)

      Oil - consumption:
      1,400 bbl/day (2003)

      Oil - exports:
      NA bbl/day

      Oil - imports:
      NA bbl/day

      Natural gas - production:
      0 cu m (2003 est.)

      Natural gas - consumption:
      0 cu m (2003 est.)

      Current account balance:
      -$152.1 million (2005 est.)

      Exports:
      $602.8 million f.o.b. (2005 est.)

      Exports - commodities:
      manufactures 75% (clothing, footwear, road vehicles), wool and mohair, food and live animals (2000)

      Exports - partners:
      US 97%, Canada 2.1%, UK 0.3% (2004)

      Imports:
      $1.166 billion f.o.b. (2005 est.)

      Imports - commodities:
      food; building materials, vehicles, machinery, medicines, petroleum products (2000)

      Imports - partners:
      Honk Kong 43%, China 23.4%, India 5.5%, South Korea 5.1%, Germany 4.4% (2004)

      Reserves of foreign exchange and gold:
      $411 million (2005 est.)

      Debt - external:
      $735 million (2002)

      Economic aid - donor:
      ODA, $4.4 million

      Economic aid - recipient:
      $41.5 million (2000)

      Currency (code):
      loti (LSL); South African rand (ZAR)

      Exchange rates:
      maloti per US dollar - 6.3593 (2005), 6.4597 (2004), 7.5648 (2003), 10.5407 (2002), 8.6092 (2001)

      Fiscal year:
      1 April - 31 March


      NOTE: The information regarding Lesotho on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Lesotho Economy 2006 information contained here. All suggestions for corrections of any errors about Lesotho Economy 2006 should be addressed to the CIA.

    Support Our Sponsor

    Support Our Sponsor

    Please ADD this page to your FAVORITES - - - - -


    https://theodora.com/wfbcurrent/lesotho/lesotho_economy.html

    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)


    CTR060106