The economy of Lesotho advanced by 12.7 percent year-on-year in the second quarter of 2021, following four consecutive quarters of decline. It was the fastest pace of growth since comparable data began in 2007, due to low-base year effects from the pandemic shock last year and amid the ongoing economic recovery. The expansion was mainly supported by mining (150.4 percent vs -0.7 percent in Q1); manufacturing (97.9 percent vs -11.3 percent); hotels & restaurants (36 percent vs -45.2 percent) and construction (29 percent vs -21.2 percent). source: Lesotho Bureau of Statistics

GDP Annual Growth Rate in Lesotho averaged 2.88 percent from 1961 until 2021, reaching an all time high of 26.40 percent in the fourth quarter of 1973 and a record low of -21.65 percent in the second quarter of 2020. This page provides - Lesotho GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Lesotho GDP Annual Growth Rate - values, historical data and charts - was last updated on December of 2021.

GDP Annual Growth Rate in Lesotho is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Lesotho GDP Annual Growth Rate is projected to trend around 4.20 percent in 2022 and 4.00 percent in 2023, according to our econometric models.

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Lesotho GDP Annual Growth Rate


Related Last Previous Unit Reference
GDP Annual Growth Rate 12.70 -11.10 percent Jun/21
Gdp From Utilities 299.00 341.00 LSL Million Jun/22
Gdp From Transport 31.00 36.00 LSL Million Jun/22
Gdp From Services 409.00 448.00 LSL Million Jun/22
Gdp From Public Administration 786.00 790.00 LSL Million Jun/22
Gdp From Mining 252.00 198.00 LSL Million Jun/22
Gdp From Manufacturing 557.00 563.00 LSL Million Jun/22
Gdp From Construction 171.00 198.00 LSL Million Jun/22
Gdp From Agriculture 321.00 336.00 LSL Million Jun/22
Gdp Constant Prices 4583.00 4781.00 LSL Million Jun/22
Lesotho GDP Annual Growth Rate
Lesotho is a landlocked country inside South Africa. Lesotho’s economy is dependent on diamonds extraction, exports of water to South Africa and workers remittances from the Southern African Customs Union (SACU). The agricultural sector, which accounts for only 8.6 percent of GDP, is the main source of income for the majority of rural population. Yet, in recent years, increasing foreign direct investments (mainly from China) in textile industry and commerce have created more jobs and strengthen the economy. However, widespread poverty, youth unemployment and high prevalence rate of AIDS remain the main obstacles to growth.