*Lesotho, Economy
Overview:
Small, landlocked, and mountainous, Lesotho has no important natural
resources other than water. Its economy is based on agriculture, light
manufacturing, and remittances from laborers employed in South Africa ($439
million in 1991). The great majority of households gain their livelihoods
from subsistence farming and migrant labor. Manufacturing depends largely on
farm products to support the milling, canning, leather, and jute industries;
other industries include textile, clothing, and construction (in particular,
a major water improvement project which will permit the sale of water to
South Africa). Industry's share of GDP rose from 6% in 1982 to 15% in 1989.
Political and economic instability in South Africa raises uncertainty for
Lesotho's economy, especially with respect to migrant worker remittances -
recently the equivalent of nearly three-fourths of domestic output.
National product:
GDP - exchange rate conversion - $620 million (1991 est.)
note:
GNP of $1.0 billion (1991 est.)
National product real growth rate:
5.3% (1991 est.); GNP 2.2% (1991 est.)
National product per capita:
$340 (1991 est.); GNP $570 (1991 est.)
Inflation rate (consumer prices):
17.9% (1991)
Unemployment rate:
at least 55% among adult males (1991 est.)
Budget:
revenues $388 million; expenditures $399 million, including capital
expenditures of $132 million (FY93)
Exports:
$57 million (f.o.b., 1991)
commodities:
wool, mohair, wheat, cattle, peas, beans, corn, hides, skins, baskets
partners:
South Africa 53%, EC 30%, North and South America 13% (1989)
Imports:
$805 million (c.i.f., 1991)
commodities:
mainly corn, building materials, clothing, vehicles, machinery, medicines,
petroleum
partners:
South Africa 95%, EC 2% (1989)
External debt:
$358 million (for public sector) (December 1990/91 est.)
Industrial production:
growth rate 5.0% (1991 est.); accounts for 11% of GDP
Electricity:
power supplied by South Africa
Industries:
food, beverages, textiles, handicrafts, tourism
Agriculture:
accounts for 19% of GDP (1990 est.) and employs 60-70% of all households;
exceedingly primitive, mostly subsistence farming and livestock; principal
crops corn, wheat, pulses, sorghum, barley
Economic aid:
US commitments, including Ex-Im (FY70-89), $268 million; US, $10.3 million
(1992), $10.1 million (1993 est.); Western (non-US) countries, ODA and OOF
bilateral commitments (1970-89), $819 million; OPEC bilateral aid (1979-89),
$4 million; Communist countries (1970-89), $14 million
*Lesotho, Economy
Currency:
1 loti (L) = 100 lisente
Exchange rates:
maloti (M) per US$1 - 3.1576 (May 1993), 2.8497 (1992), 2.7563 (1991),
2.5863 (1990), 2.6166 (1989), 2.2611 (1988); note - the Basotho loti is at
par with the South African rand
Fiscal year:
1 April - 31 March
*Lesotho, Communications
Railroads:
2.6 km; owned, operated by, and included in the statistics of South Africa
Highways:
7,215 km total; 572 km paved; 2,337 km crushed stone, gravel, or stabilized
soil; 1,806 km improved earth, 2,500 km unimproved earth
Airports:
total:
28
usable:
28
with permanent-surface runways:
3
with runways over 3,659 m:
0
with runways 2,440-3,659 m:
1
with runways 1,220-2,439 m:
2
Telecommunications:
rudimentary system consisting of a few landlines, a small microwave system,
and minor radio communications stations; 5,920 telephones; broadcast
stations - 3 AM, 2 FM, 1 TV; 1 Atlantic Ocean INTELSAT earth station
*Lesotho, Defense Forces
Branches:
Royal Lesotho Defense Force (RLDF; including Army, Air Wing), Royal Lesotho
Mounted Police
Manpower availability:
males age 15-49 422,802; fit for military service 228,102 (1993 est.)
Defense expenditures:
exchange rate conversion - $55 million, 13% of GDP (1990 est.)
*Liberia, Geography
Location:
Western Africa, bordering the North Pacific Ocean between Cote d'Ivoire and
Sierra Leone
Map references:
Africa, Standard Time Zones of the World
Area: total area:
111,370 km2
land area:
96,320 km2
comparative area:
slightly larger than Tennessee
Land boundaries:
total 1,585 km, Guinea 563 km, Cote d'Ivoire 716 km, Sierra Leone 306 km
Coastline:
579 km
Maritime claims:
continental shelf:
200 m depth or to depth of exploitation
territorial sea:
200 nm
International disputes:
none
Climate:
tropical; hot, humid; dry winters with hot days and cool to cold nights;
wet, cloudy summers with frequent heavy showers
Terrain:
mostly flat to rolling coastal plains rising to rolling plateau and low
mountains in northeast
Natural resources:
iron ore, timber, diamonds, gold
Land use:
arable land:
1%
permanent crops:
3%
meadows and pastures:
2%
forest and woodland:
39%
other:
55%
Irrigated land:
20 km2 (1989 est.)
Environment:
West Africa's largest tropical rain forest, subject to deforestation