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Economy of Lesotho vs Liberia compared: GDP & Debt

Updated on by Georank

Lesotho has a GDP of $2.57B compared to $5.25B for Liberia, ranking 175/197 and 162/197 by economy size, respectively.

Lesotho has $1.26B in government debt (49.1% of GDP), compared to $2.88B (54.9% of GDP) in Liberia.

Lesotho vs Liberia GDP by year

Lesotho
Liberia
1x
Year GDP, current $
Lesotho Liberia
2025 $2,573,572,920 $5,245,938,900
2024 $2,391,282,548 $4,779,300,900
2023 $2,129,871,530 $4,390,000,000
2022 $2,354,980,960 $4,001,047,000
2021 $2,412,130,057 $3,513,049,500
2020 $2,053,699,864 $3,176,126,300
2019 $2,390,702,296 $3,319,596,500
2018 $2,556,247,292 $3,422,754,800
2017 $2,306,741,672 $3,390,703,400
2016 $2,114,426,452 $3,398,419,600
2015 $2,359,686,725 $3,227,075,700
2014 $2,441,063,054 $3,225,652,000
2013 $2,367,112,932 $3,177,198,100
2012 $2,477,702,216 $2,791,614,000
2011 $2,579,409,620 $2,398,000,000
2010 $2,234,754,242 $1,998,000,000
2009 $1,740,894,965 $1,768,000,000
2008 $1,766,902,709 $1,726,000,000
2007 $1,682,131,785 $1,373,000,000
2006 $1,800,092,564 $1,119,000,000
2005 $1,682,343,527 $949,000,000
2004 $1,511,236,656 $897,000,000
2003 $1,157,825,435 $748,000,000
2002 $775,777,239 $927,000,000
2001 $825,706,961 $906,000,000
2000 $887,291,688 $874,000,000
1999 $912,773,681 $441,800,000
1998 $928,460,893 $359,600,000
1997 $998,004,259 $295,900,000
1996 $946,112,493 $159,400,000
1995 $1,001,894,000 $134,800,000
1994 $878,250,945 $132,200,000
1993 $835,582,062 $160,400,000
1992 $831,029,862 $223,500,000
1991 $704,325,367 $348,000,000
1990 $596,410,264 $384,400,000
1989 $495,409,233 $786,300,000
1988 $470,395,801 $1,038,300,000
1987 $402,768,324 $972,800,000
1986 $318,858,423 $840,964,400
1985 $268,629,926 $851,296,100
1984 $333,163,670 $848,478,300
1983 $386,699,309 $823,374,900
1982 $348,741,684 $863,933,200
1981 $434,188,034 $846,514,500
1980 $431,542,537 $854,711,500
1979 $290,134,593 $814,067,900
1978 $266,570,067 $717,240,400
1977 $193,315,048 $673,010,600
1976 $147,660,037 $596,675,700
1975 $149,558,896 $577,549,300
1974 $150,851,317 $486,955,000
1973 $121,188,716 $386,968,300
1972 $80,913,200 $368,098,000
1971 $76,480,285 $341,543,100
1970 $68,739,973 $323,099,700
1969 $65,967,974 $306,961,800
1968 $61,445,975 $276,820,700
1967 $59,261,976 $261,024,300
1966 $56,699,977 $244,459,500
1965 $54,879,978 $229,260,800
1964 $51,939,979 $218,929,100
1963 $47,039,981 $200,229,600
1962 $41,859,983 $191,861,800
1961 $35,699,986 $183,920,900
1960 $34,579,986 $190,495,600

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Lesotho vs Liberia by year

Lesotho
GDP per capita

GDP per capita, PPP
Liberia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lesotho Liberia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $1,089 - $915 -
2024 $1,023 $3,001 $851 $1,871
2023 $921 $2,881 $799 $1,795
2022 $1,030 $2,761 $745 $1,692
2021 $1,067 $2,545 $668 $1,539
2020 $919 $2,559 $617 $1,660
2019 $1,082 $2,568 $658 $1,900
2018 $1,171 $2,632 $692 $1,800
2017 $1,069 $2,619 $699 $1,665
2016 $992 $2,942 $715 $1,490
2015 $1,121 $3,035 $693 $1,340
2014 $1,174 $2,771 $707 $1,419
2013 $1,151 $2,538 $711 $1,360
2012 $1,218 $2,291 $638 $1,157
2011 $1,281 $2,279 $568 $1,041
2010 $1,119 $2,153 $492 $980
2009 $879 $2,036 $448 $939
2008 $898 $2,064 $452 $915
2007 $861 $1,932 $374 $873
2006 $925 $1,813 $321 $815
2005 $861 $1,681 $287.5 $774
2004 $767 $1,561 $284.1 $745
2003 $583 $1,484 $239.8 $716
2002 $389 $1,385 $299.5 $1,013
2001 $413 $1,350 $300 $987
2000 $443 $1,273 $298.5 $965
1999 $456 $1,199 $156.6 $762
1998 $465 $1,179 $134.7 $652
1997 $502 $1,154 $122.6 $548
1996 $480 $1,103 $71.4 $282.2
1995 $513 $1,037 $62.1 $254.4
1994 $456 $995 $61.5 $262.6
1993 $439 $932 $74.4 $328
1992 $444 $893 $107.8 $497
1991 $382 $830 $177.9 $793
1990 $330 $764 $172.9 $787
1989 $279 - $312 -
1988 $270.4 - $424 -
1987 $236.5 - $409 -
1986 $191.4 - $364 -
1985 $165.4 - $380 -
1984 $211 - $390 -
1983 $252 - $391 -
1982 $233.9 - $422 -
1981 $299.8 - $426 -
1980 $307 - $443 -
1979 $212.4 - $435 -
1978 $200.8 - $394 -
1977 $149.9 - $381 -
1976 $117.8 - $347 -
1975 $123.2 - $346 -
1974 $128.7 - $299.4 -
1973 $107 - $244.4 -
1972 $74 - $238.6 -
1971 $72.4 - $227.1 -
1970 $67.4 - $220.3 -
1969 $67.1 - $214.7 -
1968 $64.8 - $198.6 -
1967 $64.8 - $192.2 -
1966 $64.3 - $184.6 -
1965 $64.3 - $177.6 -
1964 $62.6 - $173.9 -
1963 $58.4 - $163.1 -
1962 $53.5 - $160.3 -
1961 $47 - $157.5 -
1960 $47 - $167.2 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Lesotho's GDP per capita is $1,089, ranking 179/197, compared to $915 in Liberia, ranking 184/197. Adjusted for purchasing power (GDP per capita PPP), Lesotho ranks 180th at $3,001, while Liberia ranks 188th at $1,871.

Economic indicators

Lesotho Liberia
Gross domestic product
$2.57B
2025
$5.25B
2025
GDP rank
175/197
2025
162/197
2025
GDP growth
1.98%
2024-2025
5.02%
2024-2025
GDP per capita
$1,089
2025
$915
2025
GDP per capita rank
179/197
2025
184/197
2025
GDP per capita, PPP
$3,001
2024
$1,871
2024
GDP per capita PPP rank
180/197
2024
188/197
2024
Government debt
$1.26B
2025
$2.88B
2025
Debt-to-GDP ratio
49.1%
2025
54.9%
2025
Government debt per person
$535
2025
$502
2025
Government debt per person rank
165/185
2025
167/185
2025
Average annual personal income after taxes
$1,455
2026
$1,467
2026
Income share by richest 10%
32.9%
2017
27.1%
2016
Income share by poorest 10%
1.7%
2017
2.9%
2016
Government expenditure, % of GDP
54.2%
2025
22.4%
2025
Consumer prices inflation
4.27%
2024-2025
8.3%
2024-2025
Central bank interest rate
6.5%
2025
n/a
Unemployment rate
18.7%
2024
5.93%
2017
Population
2402837
5916561

Spending and national debt comparison by year

Lesotho
Spending

Debt
Liberia
Spending

Debt
1x
Year % of GDP
Lesotho Liberia
Government spending Government debt Government spending Government debt
2025 54.2% 49.1% 22.4% 54.9%
2024 52.5% 52.8% 24.1% 56.4%
2023 49% 61.1% 28.6% 57.2%
2022 50.8% 64.4% 27.4% 54.4%
2021 53.6% 58% 29.8% 53.5%
2020 54.2% 54.7% 35.3% 58.5%
2019 52.9% 58.2% 32.3% 48.1%
2018 51.9% 48.2% 32.7% 36.2%
2017 50.4% 41% 35.1% 31.8%
2016 54.1% 41.5% 35.8% 28%
2015 51.7% 45.8% 37.1% 24.4%
2014 50.1% 41.5% 33.4% 24.3%
2013 58.4% 41.2% 27.4% 20.6%
2012 58.1% 39.8% 30.8% 20.5%
2011 60.2% 36.2% 29.8% 22.5%
2010 55.3% 33.8% 25.1% 25.4%
2009 66.4% 35.9% 24% 132.2%
2008 54.1% 47% 21.8% 235.3%
2007 48.1% 49.6% 16.1% 367%
2006 43.2% 43.7% 10.6% 451%
2005 37.6% 41% 11.7% 488%
2004 36.3% 49.4% 12.1% 543%
2003 39.8% 52.6% 8.98% 600%
2002 41.2% 79.6% 12.7% 464%
2001 41.4% 108.7% 12.1% 465%
2000 39.3% 88.5% 14.5% 468%
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-07-08).

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

In 2025, Lesotho's government spending was $1.4B, accounting for 54.2% of its GDP, while Liberia spent $1.18B, or 22.4% of GDP.

Debt-to-GDP ratio is 49.1% in Lesotho and 54.9% in Liberia, ranking 106/185 and 90/185, respectively.

Government deficit by year

Deficit/surplus
Lesotho

Liberia
1x
Year Deficit/surplus, % of GDP
Lesotho Liberia
2025 2.15% -1.41%
2024 8.17% -1.8%
2023 7.36% -8.55%
2022 -6.33% -5.82%
2021 -4.79% -2.5%
2020 1.45% -4.02%
2019 -5.09% -4.92%
2018 -4.41% -4.7%
2017 -2.02% -7.14%
2016 -9.43% -3.83%
2015 -1.38% -3.74%
2014 3.16% -4.92%
2013 -2.58% 1.29%
2012 4.56% -2.86%
2011 -9.85% -4.39%
2010 -1.49% 1.16%
2009 -4.16% -1.4%
2008 8.1% -2.7%
2007 10.8% 2.28%
2006 11.6% 4.23%
2005 4.46% -0.51%
2004 6.05% -0.56%
2003 0.89% 0.36%
2002 -2.44% -1.57%
2001 -2.76% -0.94%
2000 -0.95% -0.08%
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-07-08).

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

In 2025, Lesotho's government surplus, the difference between spending and revenue, was $55.4M, equivalent to 2.15% of GDP. This compares to Liberia's deficit of $74.2M, or 1.41% of GDP.

Over the past 26 years, Lesotho recorded a fiscal deficit in 14 of those years, while Liberia ran a deficit in 21 years. On average, Lesotho posted an annual surplus equal to 0.42% of GDP, compared to deficit of 2.27% of GDP for Liberia.

Inflation comparison by year

Inflation
Lesotho

Liberia
1x
Year Consumer prices inflation
Lesotho Liberia
2025 4.27% 8.3%
2024 6.11% 8.2%
2023 6.34% 10.1%
2022 8.27% 7.6%
2021 6.05% 7.8%
2020 4.98% 17%
2019 5.19% 27%
2018 4.75% 23.5%
2017 4.45% 12.4%
2016 6.6% 8.8%
2015 3.22% 7.7%
2014 5.37% 9.9%
2013 4.87% 7.6%
2012 6.05% 6.8%
2011 5.04% 8.5%
2010 -2.41% 7.3%
2009 -16.9% 7.4%
2008 10.7% 17.5%
2007 8.01% 11.4%
2006 6.07% 9.5%
2005 3.44% 6.9%
2004 5.02% 3.6%
2003 6.63% 10.3%
2002 33.8% 14.2%
2001 -9.62% 12.1%
2000 6.13% 5.3%
1999 - 2%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1999–2025, retrieved 2026-07-08); World Bank | Economy & Growth (2000–2025, retrieved 2026-07-08).

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

Over the past 26 years, Lesotho has recorded an average annual inflation rate of 5.1%, compared with 10.6% in Liberia. In 2025, inflation was 4.27% in Lesotho and 8.3% in Liberia.

Top exports between countries

Lesotho
Export category Export value
Miscellaneous $3K
Liberia
Export category Export value

Balance of trade

Lesotho Liberia
Current account balance
-$3.94M
2025
$120M
2024
Current account balance ranking
71/190
2025
62/190
2024
Current account balance, % of GDP
-0.15%
2025
+2.51%
2024
Goods imports
$1.69B
2025
$1.51B
2024
Goods exports
$933M
2025
$1.31B
2024
Service imports
$467M
2025
$253M
2024
Service exports
$16M
2025
$42.6M
2024
Imports of goods and services, % of GDP
104.5%
2025
n/a
Exports of goods and services, % of GDP
49.5%
2025
28.5%
2026

Economic freedom indices

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

Lesotho Liberia
Economic freedom 54.9 49.8
Economic freedom ranking 130/197 163/197
Property rights 41.7 40.4
Government integrity 39.6 25.8
Judicial effectiveness 43.6 23.4
Tax burden 76.4 86.1
Government spending 21.3 79.5
Fiscal health 93.5 56.9
Business freedom 50.6 38
Labor freedom 57 43.4
Monetary freedom 74.8 71.4
Trade freedom 65.4 57.4
Investment freedom 55 55
Financial freedom 40 20

Economic freedom comparison by year

Lesotho
Liberia
1x
Year Economic freedom index
Lesotho Liberia
2026 54.9 49.8
2025 54.1 48.5
2024 51.9 49.9
2023 51.6 49.6
2022 48.1 47.9
2021 53.5 49.2
2020 54.5 49
2019 53.1 49.7
2018 53.9 50.9
2017 53.9 49.1
2016 50.6 52.2
2015 49.6 52.7
2014 49.5 52.4
2013 47.9 49.3
2012 46.6 48.6
2011 47.5 46.5
2010 48.1 46.2
2009 49.7 48.1
2008 52.1 -
2007 53.2 -
2006 54.7 -
2005 53.9 -
2004 50.3 -
2003 52 -
2002 48.9 -
2001 50.6 -
2000 48.4 -
1999 48.2 -
1998 48.4 -
1997 47.2 -
1996 47 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Lesotho is 54.9, ranking 130/197, compared to 49.8 for Liberia, ranking 163/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lesotho Liberia
Services, % of GDP
55.6%
2025
40%
2025
Industry, % of GDP
25.2%
2025
24.5%
2025
Agriculture, forestry, and fishing, % of GDP
6.49%
2025
32.7%
2025
GNI, Atlas method
$3.03B
2025
$4.76B
2025
GNI per capita, PPP
$3,900
2025
$1,840
2025
Total reserves including gold
$1.01B
2024
$339M
2025
Total reserves ranking
142/177
2024
166/177
2025
Net foreign direct investment
$5.77M
2025
-$397M
2024
Net inflows of foreign direct investment
-$12.6M
2024
$472M
2024
Net outflows of foreign direct investment
$0
2024
$74.9M
2024
Servicing debt to the IMF, % of GNI
3.79%
2024
3.12%
2024
Poverty at national poverty lines
49.7%
2017
50.9%
2016
Gross capital formation, % of GDP
31.2%
2025
n/a

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. TradeMap (2020, retrieved 2026-07-08)

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.