Lesotho Import and Export Trade 2023

Lesotho is a country in the South African region popular as the Kingdom of Lesotho. Being spread over 30,355 square kilometers, it is home to enchanting mountain ranges and eye-captivating views. The country shares its borders with South Africa only, because of the small land area it is also known as the fifth smallest country in Africa. Around 2 million of the population are in the excavating mountain ranges of Lesotho popularly known as Basotho. The nation has fertile land for producing agricultural products but still exports at a lower rate because of the small amount of land area.

The Lesotho Trade data shows that the fifth smallest country in Africa is gaining a steady hike in its growth rate from the past few years. With a growth rate of 4.5% in its GDP from 2019, Lesotho’s GDP has reached a value of 2.77 billion US dollars in the year 2023. Besides its economic growth, the country lies above 1000 meters in elevation with a lowest point of 1400 meters. The different initiatives of the government have made the country emerge in the race of global traders with an overall trade value of 1.5 billion US dollars.

The Lesotho Import Data have listed the below 5 products as the topmost with a huge share in the revenue generation,

• Mineral Fuels and Oil (HS code – 27) – Mineral fuels are the primary source of requirement of industries for energy generation and many other purposes. The advancing import trade sector of Lesotho has imported mineral oils and fuels worth 500 million US dollars in the year 2023.

• Vehicles (HS code – 87) – The recent increase in the automotive industry leads to a high demand for vehicles and motor cars for the improvement of the transport sector. The import trade value of vehicles in the year 2023 is 300 million US dollars.

• Machinery (HS code – 84) – Electrical machinery and mechanical appliances are the basic needs of these days. To fulfill the increasing demand for such appliances; the country imports machinery from different nations worth 200 million US dollars.

• Medicinal products (HS code – 29) – The increasing demand for medicines by the healthcare sector makes the country import high amounts of medicines. The total import value of medicines from different nations is worth 150 million US dollars.

• Textiles (HS code – 59) – Textiles include a variety of materials like synthetic fibers for making clothes and other crochet fabrics. The total import value of textiles in the annual revenue is worth 100 million US dollars.

The Lesotho Trade data enlists the below-mentioned countries as the top 5 import destinations catering a share in the economic growth.

• South Africa – This neighboring country of Lesotho tops the list of top importers destinations, the top imported products from the nation include mechanical appliances, mineral fuels, vehicles, and iron steel products. The import trade value of the products imported from South Africa in the year 2023 is 2.5 billion US dollars.

• China – The Asian giant captures the second position of the importer's destination with a trade value of 800 million US dollars worth of products. The specific items imported from China by Lesotho include textiles, footwear, electronics, and plastic articles.

• India – The trade rate between Lesotho and India has seen a significant hike in the past few years with a revenue rate of 400 million US dollars in the year 2023. The diverse nation exports products like organic chemicals, pharmaceuticals, and iron and steel products to Lesotho.

• United States – The United States is geographically far away from Lesotho but the trade agreements and the transport services make the United States the top fourth importer of the nation. Lesotho imports items like machinery and mechanical appliances from the United States with a trade value of 300 million US dollars.

• Germany – Rounding up, Germany captures the top 5th position of the import destinations of Lesotho with a trade value of 20 million US dollars.

As per the Lesotho Export Data, the top 5 products that the country exports to gain economic stability are listed below,

• Diamonds (HS code – 71) – Diamonds are one of the most significant exported products of Lesotho, the export of diamonds holds a share of 80% in the annual revenue accounting for a value of 200 million US dollars in the year 2023.

• Textiles and apparel (HS code – 59) – The overall demand for a variety of fabrics all over the world helps the country emerge among the top global traders. The overall value of the exported textiles and apparel in the year 2023 is 90 million US dollars.

• Wool and Mohair (HS code – 51) – Wool and Mohair have been produced in this country from an early age and have great historical significance. Lesotho exports wool and mohair in a large amount with a revenue rate of 30 million US dollars in the year 2023.

• Live animals (HS code – 01) – For a hike in steady economic growth, Lesotho also used to export live animals for livestock farming. The revenue generated by the export of these animals in the year 2023 is 10 million US dollars.

• Sugar (HS code – 17) – Sugar is in the fifth position among the top exports of the country with a revenue generation of 7 million US dollars in 2023.

The Lesotho export data enlists the below-mentioned 5 destinations as the top export partners of the country,

• South Africa – Not only in the import partners list, South Africa emerges as the top exporters of Lesotho also. This can be because of the proximity of borders, textiles and luxurious goods exported from Lesotho to South Africa are worth 639 million US dollars.

• United States – Textiles and apparel products are the main exported products to the United States, the trade rate of such products account for 380 million US dollars in the year 2023.

• Belgium – Diamonds and other high-quality goods are exported from Lesotho to Belgium and many other nations. With overall revenue of 108 million US dollars, the trade with Belgium promotes the economic stability of the country.

• Germany – Germany imports minerals and fuels at a higher rate from Lesotho to meet the domestic needs of industries in the country. The total export trade value of Germany's imported products from Lesotho in the year 2023 is 78 million US dollars.

• Switzerland – Switzerland contributes to the economic growth of the country with an overall trade value of 35 million US dollars, some of the main imports include agricultural products and minerals.