Lesotho Import Export Report and Analysisby Amit Singh Import Globals
Lesotho is 135th largest goods trading partner with $ 327 million in total goods trade during 2019. Goods exports totalled $ 1 million in the total goods trade during the year 2019. US goods trade deficit with Lesotho was $324 million in 2019.
Lesotho was United States 220 largest goods export market in 2019. The main exports of the country are clothing and diamonds. Others include road vehicles, water, wool and tobacco. The main export partners are the United States, and South Africa followed by Belgium and Canada.
As per Lesotho Export Data, the exports value of goods is worth US$ 509 million, product share of 75.65%. Lesotho consumer goods imports are worth US$ 992 million, product share of 48.01%. The capital goods exports are worth US$ 54 million, product share 7.98%.
The economic consequences of the covid-19 pandemic in Lesotho have been severe with a week global and regional environmental reducing exports. Lesotho is one of the largest textile and apparel manufacturers with most of its garments products exporting to United States.
The textile and apparel industry of the country is boosted by exports to the United States. Also the government of the country is taking severe actions to boost its textile and apparel industry including improving business environment, boosting investment and tax concessions.
As per Lesotho Import Data the top imports of the country are refined petroleum, light rubberized knitted fabric, packaged medicaments, and delivery trucks and poultry meat. The major import partners are China, South Africa, Chinese, Taipei, India and Hong Kong.
The economy of Lesotho is closely linked with South Africa with imports from South Africa, mainly food stuffs, constituting about 80% of total imports. The United States goods imports from Lesotho totalled $325 million in 2019, down 22.8% from 2018 but up by 7% from 2009.
The country imports 85% of goods from South Africa including most agricultural inputs. Imports of Lesotho decreased to 6658.20 LSL million in the third quarter of 2021 from 6659.10 LSL million of the second quarter of 2021.
Lesotho enjoys ready access to South African market. It is one of the top 10 exporters to the United States under the African Growth and opportunity act and was one of top exports of textiles and garments under AGOA. The US is the largest recipient of Lesotho’s exports mostly garments.
Created on Apr 2nd 2022 02:33. Viewed 173 times.
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