The economy of Lesotho advanced 1.2 percent year-on-year in the third quarter of 2019, following a 2.1 percent contraction in the previous period. Output rebounded for agriculture, forestry & fishing (5.2 percent vs -3.3 percent in Q2); mining & quarrying (5.2 percent vs -8.2 percent); manufacturing (2.6 percent vs -9.9 percent); construction (6.7 percent vs -19.4 percent) and wholesale & retail trade (1.3 percent vs -0.1 percent). Conversely, activity declined steeply for electricity & water supply (-17.6 percent vs -3.7 percent).

GDP Annual Growth Rate in Lesotho averaged 3.80 percent from 1961 until 2019, reaching an all time high of 26.40 percent in the fourth quarter of 1973 and a record low of -13.51 percent in the fourth quarter of 1975. 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 May of 2020. source: Lesotho Bureau of Statistics

GDP Annual Growth Rate in Lesotho is expected to be -4.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Lesotho to stand at 1.00 in 12 months time. In the long-term, the Lesotho GDP Annual Growth Rate is projected to trend around 1.60 percent in 2021 and 2.00 percent in 2022, according to our econometric models.

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Lesotho GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.20 -2.10 26.40 -13.51 1961 - 2019 percent Quarterly

Lesotho GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 1.20 -2.10 26.40 -13.51 percent [+]
GDP 2.73 2.79 2.79 0.03 USD Billion [+]
GDP per capita 1401.60 1392.30 1436.10 258.90 USD [+]
GDP per capita PPP 2864.90 2845.90 2935.50 1298.60 USD [+]
Gdp Constant Prices 5510.42 5273.06 6305.99 3837.30 LSL Million [+]
Gdp From Agriculture 278.09 286.42 591.03 178.02 LSL Million [+]
Gdp From Construction 365.31 217.00 494.04 173.21 LSL Million [+]
Gdp From Manufacturing 700.69 657.52 824.07 481.06 LSL Million [+]
Gdp From Mining 263.62 230.92 362.87 171.04 LSL Million [+]
Gdp From Public Administration 621.69 624.40 830.12 409.78 LSL Million [+]
Gdp From Services 510.53 513.44 908.12 407.10 LSL Million [+]
Gdp From Transport 121.58 121.85 172.77 103.13 LSL Million [+]
Gdp From Utilities 244.25 284.30 370.36 168.10 LSL Million [+]

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.