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- Economy_of_Lesotho abstract "Lesotho is geographically surrounded by South Africa and economically integrated with it as well. The economy of Lesotho is based on agriculture, livestock, manufacturing, mining, and depends heavily on inflows of workers’ remittances and receipts from the Southern African Customs Union (SACU). and The majority of households subsist on farming. The formal sector employment consist of mainly the female workers in the apparel sector, the male migrant labor, primarily miners in South Africa for 3 to 9 months and employment in the Government of Lesotho (GOL) . The western lowlands form the main agricultural zone. Almost 50% of the population earn income through informal crop cultivation or animal husbandry with nearly two-thirds of the country's income coming from the agricultural sector.Water and diamonds are Lesotho's only significant natural resources. Water is being exploited through the 30-year, multi-billion dollar Lesotho Highlands Water Project (LHWP), which was initiated in 1986. The LHWP is designed to capture, store, and transfer water from the Orange River system and send it to South Africa's Free State and greater Johannesburg area, which features a large concentration of South African industry, population and agriculture. At the completion of the project, Lesotho should be almost completely self-sufficient in the production of electricity and also gain income from the sale of electricity to South Africa. The World Bank, African Development Bank, European Investment Bank, and many other bilateral donors are financing the project. Diamonds are produced in Letšeng, Mothae, Liqhobong and Kao mines. The sector suffered a set back in 2008 as the result of the world recession but rebounded in 2010 and 2011. It is a major contributor to the exports of Lesotho.Lesotho has taken advantage of the African Growth and Opportunity Act (AGOA) to become the largest exporter of garments to the US from sub-Saharan Africa. American Brands and retailers sourcing from Lesotho include: Foot Locker, Gap, Gloria Vanderbilt, JCPenny, Levi Strauss, Saks, Sears, Timberland and Wal-Mart. In mid-2004 its employment reached over 50,000 mainly female workers, marking the first time that manufacturing sector workers outnumbered government employees. In 2008 it exported 487 million dollars mainly to the U.S.A. Since 2004 employment in the sector was somehow reduced to about 45,000, in mid-2011, due to intense international competition in the garment sector. It was the largest formal sector employer in Lesotho in 2011. The sector initiated a major program to fight HIV/AIDS called Apparel Lesotho Alliance to Fight AIDS (ALAFA). It is an industry-wide program providing prevention and treatment for the workers.Until the political insecurity in September 1998, Lesotho's economy had grown steadily since 1992. The riots, however, destroyed nearly 80% of commercial infrastructure in Maseru and two other major towns in the country, having a disastrous effect on the country's economy. Nonetheless, the country has completed several IMF Structural Adjustment Programs, and inflation declined substantially over the course of the 1990s. Lesotho's trade deficit, however, is quite large, with exports representing only a small fraction of imports.Lesotho’s progress in moving from a predominantly subsistence-oriented economy to a lower middle income, diversified economy exporting natural resources and manufacturing goods has brought higher, more secure incomes to a significant portion of the population. The percentage of the population living below USD PPP US$1.25/day fell from 48 percent to 44 percent between 1995 and 2003. The country is still among the "Low Human Development" countries (rank 155 of 192) as classified by the UNDP, with 42.3 years of life expectancy at birth. However, adult literacy is very high - 82% and children under weight aged under 5 is only 20%.The global economic crisis hit the Lesotho economy hard through loss of textile exports and jobs in the sector due largely to the economic slowdown in the United States which is a major export destination, reduced diamond mining and exports, including weak prices for diamonds; drop in SACU revenues due to the economic slowdown in the South African economy, and reduction in worker remittances due to weakening of the South African economy and contraction of the mining sector and related job losses in South Africa. In 2009, GDP growth slowed to 0.9 percent.Lesotho has received economic aid from a variety of sources, including the United States, the World Bank, the United Kingdom, the European Union, and Germany.Lesotho has nearly 6,000 kilometers of unpaved and modern all-weather roads. There is a short rail line (freight) linking Lesotho with South Africa that is totally owned and operated by South Africa. Lesotho, is a member of the Southern African Customs Union (SACU) in which tariffs have been eliminated on the trade of goods between other member countries, which also include Botswana, Namibia, South Africa, and Swaziland. Lesotho, Swaziland, Namibia, and South Africa also form a common currency and exchange control area known as the Rand Monetary Area that uses the South African rand as the common currency. In 1980, Lesotho introduced its own currency, the loti (plural: maloti). One hundred lisente equal one loti. The Loti is at par with the rand.".
- Economy_of_Lesotho wikiPageExternalLink p0005.htm.
- Economy_of_Lesotho wikiPageExternalLink Index.aspx?proceed=true&reporter=426.
- Economy_of_Lesotho wikiPageID "17786".
- Economy_of_Lesotho wikiPageRevisionID "603710102".
- Economy_of_Lesotho caption "200".
- Economy_of_Lesotho cianame "lt".
- Economy_of_Lesotho country "Lesotho".
- Economy_of_Lesotho currency "Lesotho Loti".
- Economy_of_Lesotho debt "6.47E8".
- Economy_of_Lesotho edbr "143.0".
- Economy_of_Lesotho expenses "$1,168 million".
- Economy_of_Lesotho exportGoods "Garments 53% , other including diamonds 47%".
- Economy_of_Lesotho exportPartners "US 60%, Europe 17%, SACU 19%".
- Economy_of_Lesotho exports "$1,043 million f.o.b.".
- Economy_of_Lesotho gdp "$2.13 billion nominal".
- Economy_of_Lesotho growth "3.3".
- Economy_of_Lesotho hasPhotoCollection Economy_of_Lesotho.
- Economy_of_Lesotho importGoods "food, building materials, vehicles, machinery, medicines, petroleum products, inputs to the apparel industry".
- Economy_of_Lesotho importPartners "SACU 85%,Taiwan, Hong Kong and China 14%".
- Economy_of_Lesotho imports "$1,766 million c.i.f.".
- Economy_of_Lesotho industries "food, beverages, textiles and apparel, handicrafts, construction, tourism, mining".
- Economy_of_Lesotho inflation "3.1".
- Economy_of_Lesotho labor "855000".
- Economy_of_Lesotho occupations "agriculture: About 80% of the resident population are engaged in subsistence agriculture; roughly 20% of the formal wage earners work in South Africa, 20% of the workers are in the apparel industry in Lesotho, and 20% are employed by the Government of Lesotho. The others are employed in services and other manufacturing .".
- Economy_of_Lesotho organs Southern_African_Customs_Union.
- Economy_of_Lesotho organs Southern_African_Development_Community.
- Economy_of_Lesotho organs World_Trade_Organization.
- Economy_of_Lesotho perCapita "$1,670 Purchasing Power Parity".
- Economy_of_Lesotho poverty "58".
- Economy_of_Lesotho rank "n/a".
- Economy_of_Lesotho revenue "$1,232 million".
- Economy_of_Lesotho sectors(valueAdded)_ "agriculture: 8%, industry: 34%, services: 58%".
- Economy_of_Lesotho unemployment "45".
- Economy_of_Lesotho width "200".
- Economy_of_Lesotho year "--04-01".
- Economy_of_Lesotho subject Category:African_Union_member_economies.
- Economy_of_Lesotho subject Category:Economy_of_Lesotho.
- Economy_of_Lesotho subject Category:World_Trade_Organization_member_economies.
- Economy_of_Lesotho comment "Lesotho is geographically surrounded by South Africa and economically integrated with it as well. The economy of Lesotho is based on agriculture, livestock, manufacturing, mining, and depends heavily on inflows of workers’ remittances and receipts from the Southern African Customs Union (SACU). and The majority of households subsist on farming.".
- Economy_of_Lesotho label "Economia do Lesoto".
- Economy_of_Lesotho label "Economy of Lesotho".
- Economy_of_Lesotho label "Economía de Lesoto".
- Economy_of_Lesotho label "Économie du Lesotho".
- Economy_of_Lesotho label "Экономика Лесото".
- Economy_of_Lesotho sameAs Economía_de_Lesoto.
- Economy_of_Lesotho sameAs Économie_du_Lesotho.
- Economy_of_Lesotho sameAs Economia_do_Lesoto.
- Economy_of_Lesotho sameAs m.0117_44b.
- Economy_of_Lesotho sameAs Q2088379.
- Economy_of_Lesotho sameAs Q2088379.
- Economy_of_Lesotho wasDerivedFrom Economy_of_Lesotho?oldid=603710102.
- Economy_of_Lesotho isPrimaryTopicOf Economy_of_Lesotho.