Lesotho's export values have steadily grown since 1990, starting at USD 62 million. The growth in the 1990s was driven by the textile and apparel industry, bolstered by preferential trade agreements such as the African Growth and Opportunity Act (AGOA). By 2004, exports reached USD 708 million, marking a significant period of economic diversification.
Although exports dipped during the 2009 global economic crisis, they recovered to USD 1.2 billion in 2018, supported by consistent demand for garments in the U.S. market. However, challenges such as fluctuating demand and the COVID-19 pandemic impacted recent figures, with exports reaching USD 825 million in 2023, indicating the need for broader market diversification.
Although exports dipped during the 2009 global economic crisis, they recovered to USD 1.2 billion in 2018, supported by consistent demand for garments in the U.S. market. However, challenges such as fluctuating demand and the COVID-19 pandemic impacted recent figures, with exports reaching USD 825 million in 2023, indicating the need for broader market diversification.
Gain a broader perspective by reviewing Urbanization trend in Lesotho, Lesotho’s annual GDP figures, Lesotho’s import value.
