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Lesotho · Economy

Lesotho economy: GDP, investment, trade and remittances

How large the Lesotho economy is and how fast it is growing, who invests in it, what it sells and buys, how much its citizens abroad send home, who it owes and what it holds in reserve. The latest published year is shown with each figure.

GDP
US$2.6 billion
current US$, 2025
Real GDP growth
2.0%
2025
GDP per person
US$1,089
current US$, 2025
Exports of goods
US$1.0 billion
2024
Remittances received
US$535 million
2025, 20.8% of GDP
Foreign direct investment, net inflows
US$33 million
2025, 1.3% of GDP

Lesotho economy snapshot: GDP, growth and income per person

Lesotho's GDP was US$2.6 billion in 2025, after real growth of 2.0%.

GDP

Current US dollars.

01.0bn2.0bn3.0bn201520172019202120232025GDP 2015: US$2.4 billionGDP 2016: US$2.1 billionGDP 2017: US$2.3 billionGDP 2018: US$2.6 billionGDP 2019: US$2.4 billionGDP 2020: US$2.1 billionGDP 2021: US$2.4 billionGDP 2022: US$2.4 billionGDP 2023: US$2.1 billionGDP 2024: US$2.4 billionGDP 2025: US$2.6 billion

Real GDP growth

Annual change, per cent. Red bars are contractions.

-10%-5%0%5%10%201520172019202120232025Real GDP growth 2015: 3.1%Real GDP growth 2016: 3.6%Real GDP growth 2017: -3.1%Real GDP growth 2018: -1.5%Real GDP growth 2019: -1.4%Real GDP growth 2020: -8.2%Real GDP growth 2021: 2.3%Real GDP growth 2022: 2.4%Real GDP growth 2023: 1.7%Real GDP growth 2024: 5.2%Real GDP growth 2025: 2.0%

GDP per person

Current US dollars.

05001k2k201520172019202120232025GDP per person 2015: US$1,121GDP per person 2016: US$992GDP per person 2017: US$1,069GDP per person 2018: US$1,171GDP per person 2019: US$1,082GDP per person 2020: US$919GDP per person 2021: US$1,067GDP per person 2022: US$1,030GDP per person 2023: US$921GDP per person 2024: US$1,023GDP per person 2025: US$1,089

Source: World Bank, 2025. Method

Who invests in Lesotho and in what

Direct investment by investing country

South Africa was the largest investing country in Lesotho, at 89% of inward direct investment positions in 2024.

Inward direct investment positions in Lesotho at the end of 2024: the stock of foreign direct investment, not a year's new flow. The 8 largest investing countries.

The IMF data holds no positions reported by Lesotho itself. The figures are derived by the IMF from what the investing countries report, so they are shown as reported by investing countries.

South AfricaUS$580 million89.3%
MauritiusUS$37 million5.7%
BotswanaUS$16 million2.5%
ChinaUS$9.5 million1.5%
CanadaUS$6.3 million1.0%
ItalyUS$483 thousand0.1%
SerbiaUS$36 thousand0.0%
NigeriaUS$2130.0%

Source: IMF, 2024. Method

What Lesotho sells and buys

Pearls, precious stones and metals was 24% of exports in 2024.

Lesotho sold the most to South Africa, 58% of exports in 2024.

Exports by product, 2024

Tile area follows value. Each tile is a customs chapter of the Harmonized System; hover for the full name.

Natural, cultured pearls: US$236 million, 23.5%Pearls, precious stones and metals24%Beverages, spirits and vinegar: US$188 million, 18.7%Beverages19%Apparel and clothing accessories: US$171 million, 17.1%Clothing, knitted17%Apparel and clothing accessories: US$132 million, 13.2%Clothing, not knit…13%Wool, fine or coarse animal hair: US$46 million, 4.6%Wool5%Electrical machinery and equipment and parts thereof: US$44 million, 4.4%Electrical ma…4%Textiles, made up articles: US$37 million, 3.7%Made-up t…4%Machinery and mechanical appliances, boilers, nuclear reactors: US$31 million, 3.1%Machinery…3%Cotton: US$28 million, 2.8%Cotton3%Products of the milling industry: US$20 million, 2.0%Vehicles: US$13 million, 1.3%Fish and crustaceans, molluscs and other aquatic invertebrates: US$8.6 million, 0.9%All other chapters: US$48 million, 4.8%All other c…5%

Source: UN Comtrade, 2024. Method

Top buyers, 2024

Share of Lesotho's exports.

South AfricaUS$588 million58.5%
BelgiumUS$236 million23.5%
United StatesUS$146 million14.5%
GermanyUS$7.3 million0.7%
EswatiniUS$6.5 million0.6%
CanadaUS$4.3 million0.4%
BotswanaUS$2.8 million0.3%
United KingdomUS$2.5 million0.2%
EgyptUS$2.1 million0.2%
VietnamUS$1.3 million0.1%

Top suppliers, 2024

Share of Lesotho's imports.

South AfricaUS$1.5 billion78.9%
ChinaUS$193 million10.3%
IndiaUS$27 million1.4%
JapanUS$19 million1.0%
MozambiqueUS$10 million0.6%
ZambiaUS$9.8 million0.5%
United StatesUS$9.1 million0.5%
BotswanaUS$8.9 million0.5%
Hong KongUS$7.9 million0.4%
GermanyUS$6.8 million0.4%

Source: UN Comtrade, 2024. Method

What Lesotho buys, 2024

The 8 largest product chapters in imports.

Mineral fuels and oilsUS$289 million15.4%
Machinery and mechanical appliancesUS$155 million8.3%
Electrical machinery and equipmentUS$121 million6.4%
VehiclesUS$111 million5.9%
Knitted or crocheted fabricsUS$90 million4.8%
CerealsUS$65 million3.5%
Iron or steel articlesUS$61 million3.2%
Products of the milling industryUS$60 million3.2%

Source: UN Comtrade, 2024. Method

Trade balance of goods

Exports minus imports. Red bars are years when imports were larger. A year is left out when either side is not published.

-1.0bn-750m-500m-250m020152017201920212023Trade balance 2015: -US$815 million (exports US$606 million, imports US$1.4 billion)Trade balance 2016: -US$692 million (exports US$664 million, imports US$1.4 billion)Trade balance 2017: -US$946 million (exports US$719 million, imports US$1.7 billion)Trade balance 2018: -US$742 million (exports US$882 million, imports US$1.6 billion)Trade balance 2019: -US$695 million (exports US$895 million, imports US$1.6 billion)Trade balance 2020: -US$443 million (exports US$837 million, imports US$1.3 billion)Trade balance 2021: -US$719 million (exports US$949 million, imports US$1.7 billion)Trade balance 2022: -US$970 million (exports US$900 million, imports US$1.9 billion)Trade balance 2023: -US$892 million (exports US$830 million, imports US$1.7 billion)Trade balance 2024: -US$874 million (exports US$1.0 billion, imports US$1.9 billion)

Source: UN Comtrade, 2024. Method

Remittances against foreign direct investment in Lesotho

Remittances to Lesotho were 16.0 times foreign direct investment in 2025.

Foreign direct investment net inflows were negative in 2019, 2021 and 2022: more investment left Lesotho than came in.

Remittances receivedForeign direct investment, net inflows
-200m0200m400m600m201520172019202120232025Remittances 2015: US$348 millionRemittances 2016: US$455 millionRemittances 2017: US$547 millionRemittances 2018: US$573 millionRemittances 2019: US$529 millionRemittances 2020: US$450 millionRemittances 2021: US$474 millionRemittances 2022: US$533 millionRemittances 2023: US$480 millionRemittances 2024: US$476 millionRemittances 2025: US$535 millionForeign direct investment 2015: US$113 millionForeign direct investment 2016: US$39 millionForeign direct investment 2017: US$135 millionForeign direct investment 2018: US$23 millionForeign direct investment 2019: -US$58 millionForeign direct investment 2020: US$12 millionForeign direct investment 2021: -US$12 millionForeign direct investment 2022: -US$139 thousandForeign direct investment 2023: US$25 millionForeign direct investment 2024: US$15 millionForeign direct investment 2025: US$33 million

Source: World Bank, 2026. Method

Remittances and investment as a share of GDP

The same two flows measured against the size of the economy.

Remittances, share of GDPForeign direct investment, share of GDP
-10%0%10%20%30%201520172019202120232025Remittances 2015: 14.7%Remittances 2016: 21.5%Remittances 2017: 23.7%Remittances 2018: 22.4%Remittances 2019: 22.1%Remittances 2020: 21.9%Remittances 2021: 19.7%Remittances 2022: 22.6%Remittances 2023: 22.5%Remittances 2024: 19.9%Remittances 2025: 20.8%Foreign direct investment 2015: 4.8%Foreign direct investment 2016: 1.8%Foreign direct investment 2017: 5.9%Foreign direct investment 2018: 0.9%Foreign direct investment 2019: -2.4%Foreign direct investment 2020: 0.6%Foreign direct investment 2021: -0.5%Foreign direct investment 2022: -0.0%Foreign direct investment 2023: 1.2%Foreign direct investment 2024: 0.6%Foreign direct investment 2025: 1.3%

Source: World Bank, 2026. Method

Who Lesotho owes

External debt stock by type of creditor. Creditor types cover public and publicly guaranteed debt; the grey part is the rest of the total external debt stock. A creditor type with no published figure is not shown.

Multilateral creditors held 45% of Lesotho's external debt stock in 2024.

Public external debt owed to China was US$182 million in 2024, 10% of the external debt stock.

MultilateralBilateralCommercial banksRest of the totalPublic debt owed to China
0500m1.0bn1.5bn2.0bn20152017201920212023Multilateral 2015: US$656 millionBilateral 2015: US$111 millionCommercial banks 2015: US$6.6 millionRest of the total 2015: US$179 millionMultilateral 2016: US$648 millionBilateral 2016: US$121 millionCommercial banks 2016: US$5.6 millionRest of the total 2016: US$583 millionMultilateral 2017: US$703 millionBilateral 2017: US$118 millionCommercial banks 2017: US$5.6 millionRest of the total 2017: US$677 millionMultilateral 2018: US$697 millionBilateral 2018: US$108 millionCommercial banks 2018: US$4.6 millionRest of the total 2018: US$654 millionMultilateral 2019: US$722 millionBilateral 2019: US$131 millionCommercial banks 2019: US$3.8 millionRest of the total 2019: US$727 millionMultilateral 2020: US$755 millionBilateral 2020: US$171 millionCommercial banks 2020: US$4.1 millionRest of the total 2020: US$807 millionMultilateral 2021: US$760 millionBilateral 2021: US$215 millionCommercial banks 2021: US$3.6 millionRest of the total 2021: US$855 millionMultilateral 2022: US$742 millionBilateral 2022: US$222 millionCommercial banks 2022: US$3.2 millionRest of the total 2022: US$841 millionMultilateral 2023: US$765 millionBilateral 2023: US$230 millionCommercial banks 2023: US$2.9 millionRest of the total 2023: US$777 millionMultilateral 2024: US$794 millionBilateral 2024: US$220 millionCommercial banks 2024: US$2.4 millionRest of the total 2024: US$757 millionPublic debt owed to China 2015: US$40 millionPublic debt owed to China 2016: US$50 millionPublic debt owed to China 2017: US$50 millionPublic debt owed to China 2018: US$44 millionPublic debt owed to China 2019: US$72 millionPublic debt owed to China 2020: US$115 millionPublic debt owed to China 2021: US$146 millionPublic debt owed to China 2022: US$163 millionPublic debt owed to China 2023: US$183 millionPublic debt owed to China 2024: US$182 million

Source: World Bank, 2026. Method

Reserves and months of import cover

Total reserves including gold, and how many months of imports they cover.

Reserves, US$Months of imports
0500m1.0bn1.5bn024620152017201920212023Reserves 2015: US$997 millionReserves 2016: US$925 millionReserves 2017: US$658 millionReserves 2018: US$729 millionReserves 2019: US$774 millionReserves 2020: US$730 millionReserves 2021: US$798 millionReserves 2022: US$771 millionReserves 2023: US$854 millionReserves 2024: US$1.0 billionMonths of imports 2015: 5.5 monthsMonths of imports 2016: 5.2 monthsMonths of imports 2017: 3.1 monthsMonths of imports 2018: 3.4 monthsMonths of imports 2019: 4.0 monthsMonths of imports 2020: 4.2 monthsMonths of imports 2021: 4.1 monthsMonths of imports 2022: 3.9 monthsMonths of imports 2023: 4.7 monthsMonths of imports 2024: 5.5 months

Source: World Bank, 2026. Method

Aid received by Lesotho

Net official development assistance and official aid received.

050m100m150m200m20152017201920212023Aid received 2015: US$86 millionAid received 2016: US$112 millionAid received 2017: US$146 millionAid received 2018: US$154 millionAid received 2019: US$141 millionAid received 2020: US$172 millionAid received 2021: US$180 millionAid received 2022: US$154 millionAid received 2023: US$172 million

Source: World Bank, 2026. Method