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Small, landlocked, and mountainous, Lesotho relies on remittances from miners employed in South Africa and customs duties from the Southern Africa Customs Union for the majority of government revenue. However, the government has recently strengthened its tax system to reduce dependency on customs duties. Completion of a major hydropower facility in January 1998 permitted the sale of water to South Africa and generated royalties for Lesotho. Lesotho produces about 90% of its own electrical power needs. As the number of mineworkers has declined steadily over the past several years, a small manufacturing base has developed based on farm products that support the milling, canning, leather, and jute industries, as well as a rapidly expanding apparel-assembly sector. Despite Lesotho's market-based economy being heavily tied to its neighbor South Africa, the US is an important trade partner because of the export sector's heavy dependence on apparel exports. Exports have grown significantly because of the trade benefits contained in the Africa Growth and Opportunity Act. The economy is still primarily based on subsistence agriculture, especially livestock, although drought has decreased agricultural activity. The extreme inequality in the distribution of income remains a major drawback. Lesotho has signed an Interim Poverty Reduction and Growth Facility with the IMF. In July 2007, Lesotho signed a Millennium Challenge Account Compact with the US worth $362.5 million. Economic growth plunged in 2009, due mainly to the effects of the global economic crisis. Lesotho's budget relies heavily on customs receipts from the Southern African Customs Union (SACU).
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$3.155 billion (2009 est.)
country comparison to the world: 173
$3.106 billion (2008 est.)
$2.989 billion (2007 est.)
note:
data are in 2009 US dollars
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$1.602 billion (2009 est.)
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1.6% (2009 est.)
country comparison to the world: 92
3.9% (2008 est.)
5.2% (2007 est.)
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$1,600 (2009 est.)
country comparison to the world: 196
$1,600 (2008 est.)
$1,600 (2007 est.)
note:
data are in 2009 US dollars
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agriculture: 7.1%
industry:
34.7%
services:
58.1% (2009 est.)
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854,600 (2007 est.)
country comparison to the world: 145
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agriculture: 86% of resident population engaged in subsistence agriculture; roughly 35% of the active male wage earners work in South Africa
industry and services:
14% (2002 est.)
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45% (2002)
country comparison to the world: 188
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49% (1999)
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lowest 10%: 1%
highest 10%:
39.4% (2003)
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63.2 (1995)
country comparison to the world: 3
56 (1986-87)
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24.4% of GDP (2009 est.)
country comparison to the world: 49
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revenues: $1.107 billion
expenditures:
$1.188 billion (2009 est.)
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7.2% (2009 est.)
country comparison to the world: 172
10.7% (2008 est.)
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14.05% (31 December 2008)
country comparison to the world: 20
12.82% (31 December 2007)
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16.19% (31 December 2008)
country comparison to the world: 54
14.13% (31 December 2007)
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$416.5 million (31 December 2008)
country comparison to the world: 134
$439.2 million (31 December 2007)
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$108.1 million (31 December 2008)
country comparison to the world: 154
$160.2 million (31 December 2007)
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$NA
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corn, wheat, pulses, sorghum, barley; livestock
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food, beverages, textiles, apparel assembly, handicrafts, construction, tourism
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1.5% (2009 est.)
country comparison to the world: 62
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502 million kWh
country comparison to the world: 159
note:
electricity supplied by South Africa (2007 est.)
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516.9 million kWh (2007 est.)
country comparison to the world: 161
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0 kWh (2008 est.)
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50 million kWh; note - electricity supplied by South Africa (2008 est.)
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0 bbl/day (2009 est.)
country comparison to the world: 155
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2,000 bbl/day (2009 est.)
country comparison to the world: 188
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0 bbl/day (2007 est.)
country comparison to the world: 187
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1,553 bbl/day (2007 est.)
country comparison to the world: 181
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0 bbl (1 January 2009 est.)
country comparison to the world: 160
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0 cu m (2008 est.)
country comparison to the world: 166
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0 cu m (2008 est.)
country comparison to the world: 120
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0 cu m (2008 est.)
country comparison to the world: 164
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0 cu m (2008 est.)
country comparison to the world: 165
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0 cu m (1 January 2009 est.)
country comparison to the world: 153
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$168 million (2009 est.)
country comparison to the world: 52
$244.2 million (2008 est.)
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$821 million (2009 est.)
country comparison to the world: 156
$882.4 million (2008 est.)
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manufactures 75% (clothing, footwear, road vehicles), wool and mohair, food and live animals
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US 58.9%, Belgium 37%, Madagascar 1.2% (2008)
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$1.594 billion (2009 est.)
country comparison to the world: 157
$1.618 billion (2008 est.)
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food; building materials, vehicles, machinery, medicines, petroleum products
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China 26.3%, Taiwan 20.1%, Hong Kong 16.4%, South Korea 14.1%, India 9.2% (2008)
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$1.001 billion (31 December 2009 est.)
country comparison to the world: 129
$982 million (31 December 2008 est.)
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$581 million (31 December 2009 est.)
country comparison to the world: 157
$619 million (31 December 2008 est.)
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maloti (LSL) per US dollar - 9.8 (2009), 7.75 (2008), 7.25 (2007), 6.85 (2006), 6.3593 (2005)
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