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Economy of Belarus vs Lesotho compared: GDP & Debt

Updated on by Georank team

Belarus has a GDP of $76B compared to $2.27B for Lesotho, ranking 83/197 and 175/197 by economy size, respectively.

Belarus has $30.3B in government debt (39.9% of GDP), compared to $1.29B (56.8% of GDP) in Lesotho.

Belarus vs Lesotho GDP by year

Belarus
Lesotho
1x
Year GDP, current $
Belarus Lesotho
2024 $75,961,865,472 $2,271,759,455
2023 $72,478,760,370 $2,117,962,445
2022 $73,775,179,925 $2,354,980,960
2021 $69,673,747,132 $2,412,130,057
2020 $61,371,673,345 $2,053,699,864
2019 $64,410,170,653 $2,390,702,296
2018 $60,031,026,576 $2,556,247,292
2017 $54,725,405,751 $2,306,741,672
2016 $47,723,545,321 $2,114,426,452
2015 $56,454,769,845 $2,359,686,725
2014 $78,813,069,121 $2,441,063,054
2013 $75,527,558,966 $2,367,112,932
2012 $65,685,890,439 $2,477,702,216
2011 $61,762,382,328 $2,579,409,620
2010 $57,231,904,543 $2,234,754,242
2009 $50,873,167,326 $1,740,894,965
2008 $60,752,106,347 $1,766,902,709
2007 $45,275,711,996 $1,682,131,785
2006 $36,961,894,281 $1,800,092,564
2005 $30,210,091,837 $1,682,343,527
2004 $23,141,566,293 $1,511,236,656
2003 $17,825,444,724 $1,157,825,435
2002 $14,594,900,945 $775,777,239
2001 $12,354,820,144 $825,706,961
2000 $12,736,856,828 $887,291,688
1999 $12,138,486,532 $912,773,681
1998 $15,222,012,660 $928,460,893
1997 $14,128,408,566 $998,004,259
1996 $14,500,437,520 $946,112,493
1995 $13,972,683,274 $1,001,894,000
1994 $14,931,435,232 $878,250,945
1993 $16,275,073,527 $835,582,062
1992 $16,939,790,094 $831,029,862
1991 $18,404,907,975 $704,325,367
1990 $17,389,558,233 $596,410,264
1989 - $495,409,233
1988 - $470,395,801
1987 - $402,768,324
1986 - $318,858,423
1985 - $268,629,926
1984 - $333,163,670
1983 - $386,699,309
1982 - $348,741,684
1981 - $434,188,034
1980 - $431,542,537
1979 - $290,134,593
1978 - $266,570,067
1977 - $193,315,048
1976 - $147,660,037
1975 - $149,558,896
1974 - $150,851,317
1973 - $121,188,716
1972 - $80,913,200
1971 - $76,480,285
1970 - $68,739,973
1969 - $65,967,974
1968 - $61,445,975
1967 - $59,261,976
1966 - $56,699,977
1965 - $54,879,978
1964 - $51,939,979
1963 - $47,039,981
1962 - $41,859,983
1961 - $35,699,986
1960 - $34,579,986

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/lesotho | CC BY

GDP per capita in Belarus vs Lesotho by year

Belarus
GDP per capita

GDP per capita, PPP
Lesotho
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belarus Lesotho
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $8,318 $33,010 $972 $3,001
2023 $7,897 $30,834 $916 $2,881
2022 $7,995 $28,429 $1,030 $2,761
2021 $7,490 $27,611 $1,067 $2,545
2020 $6,543 $24,872 $919 $2,559
2019 $6,838 $22,302 $1,082 $2,568
2018 $6,360 $20,026 $1,171 $2,632
2017 $5,786 $18,414 $1,069 $2,619
2016 $5,040 $17,832 $992 $2,942
2015 $5,967 $18,134 $1,121 $3,035
2014 $8,341 $19,038 $1,174 $2,771
2013 $7,998 $19,014 $1,151 $2,538
2012 $6,953 $18,115 $1,218 $2,291
2011 $6,528 $16,563 $1,281 $2,279
2010 $6,035 $15,339 $1,119 $2,153
2009 $5,352 $14,034 $879 $2,036
2008 $6,376 $13,886 $898 $2,064
2007 $4,735 $12,320 $861 $1,932
2006 $3,848 $10,995 $925 $1,813
2005 $3,126 $9,637 $861 $1,681
2004 $2,378 $8,483 $767 $1,561
2003 $1,820 $7,362 $583 $1,484
2002 $1,479 $6,697 $389 $1,385
2001 $1,244 $6,238 $413 $1,350
2000 $1,276 $5,796 $443 $1,273
1999 $1,211 $5,331 $456 $1,199
1998 $1,511 $5,061 $465 $1,179
1997 $1,396 $4,596 $502 $1,154
1996 $1,427 $4,039 $480 $1,103
1995 $1,371 $3,846 $513 $1,037
1994 $1,460 $4,190 $456 $995
1993 $1,590 $4,641 $439 $932
1992 $1,658 $4,917 $444 $893
1991 $1,805 $5,330 $382 $830
1990 $1,707 $5,220 $330 $764
1989 - - $279 -
1988 - - $270.4 -
1987 - - $236.5 -
1986 - - $191.4 -
1985 - - $165.4 -
1984 - - $211 -
1983 - - $252 -
1982 - - $233.9 -
1981 - - $299.8 -
1980 - - $307 -
1979 - - $212.4 -
1978 - - $200.8 -
1977 - - $149.9 -
1976 - - $117.8 -
1975 - - $123.2 -
1974 - - $128.7 -
1973 - - $107 -
1972 - - $74 -
1971 - - $72.4 -
1970 - - $67.4 -
1969 - - $67.1 -
1968 - - $64.8 -
1967 - - $64.8 -
1966 - - $64.3 -
1965 - - $64.3 -
1964 - - $62.6 -
1963 - - $58.4 -
1962 - - $53.5 -
1961 - - $47 -
1960 - - $47 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/lesotho | CC BY

Belarus' GDP per capita is $8,318, ranking 92/197, compared to $972 in Lesotho, ranking 181/197. Adjusted for purchasing power (GDP per capita PPP), Belarus ranks 68th at $33,010, while Lesotho ranks 180th at $3,001.

Economic indicators

Belarus Lesotho
Gross domestic product
$76B
2024
$2.27B
2024
GDP rank
83/197
2024
175/197
2024
GDP growth
4.01%
2023-2024
2.85%
2023-2024
GDP per capita
$8,318
2024
$972
2024
GDP per capita rank
92/197
2024
181/197
2024
GDP per capita, PPP
$33,010
2024
$3,001
2024
GDP per capita PPP rank
68/197
2024
180/197
2024
Government debt
$30.3B
2024
$1.29B
2024
Debt-to-GDP ratio
39.9%
2024
56.8%
2024
Government debt per person
$3,318
2024
$552
2024
Government debt per person rank
97/185
2024
164/185
2024
Average annual personal income after taxes
$7,345
2026
$6,545
2026
Market capitalization of domestic companies
$6.01B
2024
n/a
Income share by richest 10%
20.7%
2020
32.9%
2017
Income share by poorest 10%
4.5%
2020
1.7%
2017
Government expenditure, % of GDP
40.9%
2024
53.5%
2024
Consumer prices inflation
5.7%
2023-2024
6.11%
2023-2024
Central bank interest rate
9.75%
2025
6.5%
2025
Unemployment rate
3.04%
2024
18.7%
2024
Population
9013835
2396633

Spending and national debt comparison by year

Belarus
Spending

Debt
Lesotho
Spending

Debt
1x
Year % of GDP
Belarus Lesotho
Government spending Government debt Government spending Government debt
2024 40.9% 39.9% 53.5% 56.8%
2023 40.3% 40.7% 49.4% 61.5%
2022 38% 40.8% 50.8% 64.4%
2021 36.7% 41.2% 53.8% 58%
2020 38% 47.5% 54.4% 54.7%
2019 37.4% 41% 53.6% 58.2%
2018 37.8% 47.5% 51.9% 48.2%
2017 39% 53.2% 50.4% 41%
2016 40.7% 53.5% 54.1% 41.5%
2015 41.8% 53% 51.7% 45.8%
2014 38.8% 38.8% 50.1% 41.5%
2013 40.8% 36.9% 58.4% 41.2%
2012 38.9% 36.9% 58.1% 39.8%
2011 40.3% 58.2% 60.2% 36.2%
2010 44.3% 36.8% 55.3% 33.8%
2009 51.7% 32.5% 66.4% 35.9%
2008 60% 20.3% 54.1% 47%
2007 49.2% 15.8% 48.1% 49.6%
2006 47.2% 12.3% 43.2% 43.7%
2005 45% 8.12% 37.6% 41%
2004 44% 9.22% 36.3% 49.4%
2003 43.5% - 39.8% 52.6%
2002 43.8% - 41.2% 79.6%
2001 42.4% - 41.4% 108.7%
2000 - - 39.3% 88.5%
1999 - - 50.8% 83%
1998 - - 51.4% 79.4%
1997 - - 44.6% 65.7%
1996 - - 41.5% 71.6%
1995 - - 42.1% 62.8%
1994 - - 40.2% 67%
1993 - - 36% 71.2%
1992 - - 35.3% 64.4%
1991 - - 31.3% 11.9%
1990 - - 32.9% 18%
1989 - - 35.8% 112.5%
1988 - - 35.3% 105.2%
1987 - - 40.3% 97.4%
1986 - - 33.2% 92.5%
1985 - - 32.8% 86.3%
1984 - - 26.8% 57.2%
1983 - - 27.2% 56.7%
1982 - - 29.9% 61.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

GeoRank.org/economy/belarus/lesotho | CC BY

In 2024, Belarus' government spending was $31.1B, accounting for 40.9% of its GDP, while Lesotho spent $1.22B, or 53.5% of GDP.

Debt-to-GDP ratio is 39.9% in Belarus and 56.8% in Lesotho, ranking 133/185 and 92/185, respectively.

Government deficit by year

Deficit/surplus
Belarus

Lesotho
1x
Year Deficit/surplus, % of GDP
Belarus Lesotho
2024 1.05% 9.04%
2023 0.76% 7.31%
2022 -1.98% -6.41%
2021 -0.22% -4.95%
2020 -2.87% 1.18%
2019 0.91% -5.72%
2018 1.8% -4.41%
2017 -0.34% -2.02%
2016 -1.66% -9.43%
2015 -2.96% -1.38%
2014 0.09% 3.16%
2013 -0.98% -2.58%
2012 0.36% 4.56%
2011 -2.81% -9.85%
2010 -4.19% -1.49%
2009 -7.23% -4.16%
2008 -10.9% 8.1%
2007 -7.82% 10.8%
2006 -7.71% 11.6%
2005 -6.71% 4.46%
2004 -7.06% 6.05%
2003 -6.74% 0.89%
2002 -7.81% -2.44%
2001 -4.74% -2.76%
2000 - -0.95%
1999 - -15.3%
1998 - -11.8%
1997 - 0.27%
1996 - 2.11%
1995 - 5.13%
1994 - 5.69%
1993 - 7.55%
1992 - 4.65%
1991 - 9.74%
1990 - 8.78%
1989 - 3.88%
1988 - -1.87%
1987 - -2.85%
1986 - 0.87%
1985 - 1.68%
1984 - 4.82%
1983 - 1.85%
1982 - -2.03%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

GeoRank.org/economy/belarus/lesotho | CC BY

In 2024, Belarus' government surplus, the difference between spending and revenue, was $796M, equivalent to 1.05% of GDP. This compares to Lesotho's surplus of $205M, or 9.04% of GDP.

Over the past 24 years, Belarus recorded a fiscal deficit in 18 of those years, while Lesotho ran a deficit in 13 years. On average, Belarus posted an annual deficit equal to 3.32% of GDP, compared to surplus of 0.4% of GDP for Lesotho.

Inflation comparison by year

Inflation
Belarus

Lesotho
1x
Year Consumer prices inflation
Belarus Lesotho
2024 5.7% 6.11%
2023 5% 6.34%
2022 15.2% 8.27%
2021 9.5% 6.05%
2020 5.5% 4.98%
2019 5.6% 5.19%
2018 4.9% 4.75%
2017 6% 4.45%
2016 11.8% 6.6%
2015 13.5% 3.22%
2014 18.1% 5.37%
2013 18.3% 4.87%
2012 59.2% 6.05%
2011 53.2% 5.04%
2010 7.7% -2.41%
2009 13% -16.9%
2008 14.8% 10.7%
2007 8.4% 8.01%
2006 7% 6.07%
2005 10.3% 3.44%
2004 18.1% 5.02%
2003 28.4% 6.63%
2002 42.6% 33.8%
2001 61.1% -9.62%
2000 168.6% 6.13%
1999 293.7% -
1998 73% -
1997 63.8% -

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (2000–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/lesotho | CC BY

Over the past 25 years, Belarus has recorded an average annual inflation rate of 24.5%, compared with 5.13% in Lesotho. In 2024, inflation was 5.7% in Belarus and 6.11% in Lesotho.

Top exports between countries

Belarus
Export category Export value
IT & IP services $2K
Lesotho
Export category Export value

Balance of trade

Belarus Lesotho
Current account balance
-$1.94B
2024
$89.2M
2024
Current account balance ranking
142/190
2024
68/190
2024
Current account balance, % of GDP
-2.56%
2024
+3.93%
2024
Goods imports
$44.2B
2024
$1.67B
2024
Goods exports
$39.5B
2024
$965M
2024
Service imports
$6.82B
2024
$415M
2024
Service exports
$10.1B
2024
$15.4M
2024
Imports of goods and services, % of GDP
66.9%
2024
98.6%
2023
Exports of goods and services, % of GDP
65.1%
2024
42.9%
2023

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Belarus Lesotho
Economic freedom 49.1 54.9
Economic freedom ranking 166/197 130/197
Property rights 20 41.7
Government integrity 28.3 39.6
Judicial effectiveness 11.5 43.6
Tax burden 93.5 76.4
Government spending 52.6 21.3
Fiscal health 96.8 93.5
Business freedom 50.3 50.6
Labor freedom 48 57
Monetary freedom 69 74.8
Trade freedom 69.2 65.4
Investment freedom 30 55
Financial freedom 20 40

Economic freedom comparison by year

Belarus
Lesotho
1x
Year Economic freedom index
Belarus Lesotho
2026 49.1 54.9
2025 48.9 54.1
2024 48.4 51.9
2023 51 51.6
2022 53 48.1
2021 61 53.5
2020 61.7 54.5
2019 57.9 53.1
2018 58.1 53.9
2017 58.6 53.9
2016 48.8 50.6
2015 49.8 49.6
2014 50.1 49.5
2013 48 47.9
2012 49 46.6
2011 47.9 47.5
2010 48.7 48.1
2009 45 49.7
2008 45.3 52.1
2007 47 53.2
2006 47.5 54.7
2005 46.7 53.9
2004 43.1 50.3
2003 39.7 52
2002 39 48.9
2001 38 50.6
2000 41.3 48.4
1999 35.4 48.2
1998 38 48.4
1997 39.8 47.2
1996 38.7 47
1995 40.4 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/belarus/lesotho | CC BY

The Economic Freedom Index for Belarus is 49.1, ranking 166/197, compared to 54.9 for Lesotho, ranking 130/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belarus Lesotho
Services, % of GDP
49.7%
2024
48%
2024
Industry, % of GDP
30.7%
2024
30.9%
2024
Agriculture, forestry, and fishing, % of GDP
6.87%
2024
6.5%
2024
GNI, Atlas method
$75.4B
2024
$2.75B
2024
GNI per capita, PPP
$32,300
2024
$3,580
2024
Total reserves including gold
$8.91B
2024
$1.01B
2024
Total reserves ranking
82/177
2024
142/177
2024
Net foreign direct investment
-$1.57B
2024
$12.6M
2024
Net inflows of foreign direct investment
$1.74B
2024
-$12.6M
2024
Net outflows of foreign direct investment
$170M
2024
$0
2024
Servicing debt to the IMF, % of GNI
7.19%
2024
4.06%
2024
Poverty at national poverty lines
3.9%
2022
49.7%
2017
Gross capital formation, % of GDP
25.8%
2024
27.2%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/belarus/lesotho | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. TradeMap (2021, retrieved 2026-02-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.