Lesotho Country Profile: Trade and Economic Analysis

Lesotho gets most of its foreign exchange through earnings from SACU, water exports to South Africa and to a lesser extent remittances from the migrant labourers employed in South Africa. As per Import Export Data the country relies on a wider range of exports rather than manufactured exports, in order to strengthen trade related growth in the country.

As per Lesotho Import Data, the main imports of the country are food, fuel, machinery and building materials. The import partners are South Korea, China, Taiwan, Hong Kong, United States, and South Africa.

The country imports more of mineral fuels, oils, and products of their distillation, bituminous substances, mineral waxes and knitted or crocheted fabrics. In the year 2020, food imports of Lesotho were 28.1%. Though Lesotho food imports fluctuated substantially in recent years, it is tended to increase through 2003-2020 period ending at 28.1% in the year 2020.

The main agriculture products include maize, wheat, sorghum and livestock. Maize is the predominant agriculture produce and food staple of the country. Domestic food production covers just about 30% of the national food requirements thus making Lesotho a net food importing country.

The top partner countries from which Lesotho imports food products include South Africa, Belgium, Namibia, France, and China.

As per Lesotho Export Data, the country exports are garments, diamonds, water, electricity, wool and mohair. The World Bank ranked Lesotho 122 among 190 countries in its 2020 doing business report.

The main export partners of Lesotho were South Africa, United States, Eswatini, Germany and Canada. Lesotho’s apparel exports enjoy duty-free access to the American markets until 2012, making them up to 15% cheaper in the United States market.

Around 85% of Lesotho textiles and garment exports go to USA. Lesotho continues to remain the largest exporters of garments to the United States of America from Sub-Saharan African. The top countries to which Lesotho exports textiles and clothing include United States, South Africa, Canada, Eswatini and Germany.

The country has taken the most advantage of the AGOA to become the largest sub- Saharan African exporter of apparel products to the United States of America from Sub-Saharan Africa. The country is rich in two natural resources – water and diamonds. Diamonds have increased Lesotho’s export earnings as large scale production began just over a decade ago, helping boost foreign exchange reserves.

If you are planning to do business with Lesotho it is important that you know the trade dynamics of the country so that you can make informed business moves.

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