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Economy of Lesotho vs Luxembourg compared: GDP & Debt

Updated on by Georank

Lesotho has a GDP of $2.57B compared to $101B for Luxembourg, ranking 175/197 and 75/197 by economy size, respectively.

Lesotho has $1.26B in government debt (49.1% of GDP), compared to $27.3B (27% of GDP) in Luxembourg.

Lesotho vs Luxembourg GDP by year

Lesotho
Luxembourg
1x
Year GDP, current $
Lesotho Luxembourg
2025 $2,573,572,920 $101,157,829,491
2024 $2,391,282,548 $93,279,851,863
2023 $2,129,871,530 $88,788,881,539
2022 $2,354,980,960 $80,801,680,397
2021 $2,412,130,057 $86,386,759,695
2020 $2,053,699,864 $73,670,782,100
2019 $2,390,702,296 $69,872,035,114
2018 $2,556,247,292 $71,085,623,495
2017 $2,306,741,672 $65,712,180,343
2016 $2,114,426,452 $62,216,885,436
2015 $2,359,686,725 $60,071,584,216
2014 $2,441,063,054 $68,804,814,555
2013 $2,367,112,932 $65,203,276,467
2012 $2,477,702,216 $59,776,383,527
2011 $2,579,409,620 $61,696,281,326
2010 $2,234,754,242 $56,213,985,987
2009 $1,740,894,965 $54,467,289,898
2008 $1,766,902,709 $58,844,277,702
2007 $1,682,131,785 $51,587,401,416
2006 $1,800,092,564 $42,910,153,830
2005 $1,682,343,527 $37,672,311,223
2004 $1,511,236,656 $35,064,843,793
2003 $1,157,825,435 $29,667,268,248
2002 $775,777,239 $23,649,832,387
2001 $825,706,961 $21,387,550,720
2000 $887,291,688 $21,230,200,538
1999 $912,773,681 $21,899,317,599
1998 $928,460,893 $20,150,055,568
1997 $998,004,259 $19,563,836,265
1996 $946,112,493 $20,895,314,658
1995 $1,001,894,000 $20,853,093,870
1994 $878,250,945 $17,701,798,891
1993 $835,582,062 $15,925,521,222
1992 $831,029,862 $15,518,702,635
1991 $704,325,367 $13,834,219,728
1990 $596,410,264 $12,778,792,854
1989 $495,409,233 $10,037,674,038
1988 $470,395,801 $9,418,167,855
1987 $402,768,324 $8,320,902,215
1986 $318,858,423 $6,685,595,088
1985 $268,629,926 $4,577,211,767
1984 $333,163,670 $4,438,435,493
1983 $386,699,309 $4,524,217,751
1982 $348,741,684 $4,602,316,793
1981 $434,188,034 $5,053,665,797
1980 $431,542,537 $6,019,805,490
1979 $290,134,593 $5,516,982,664
1978 $266,570,067 $4,718,539,772
1977 $193,315,048 $3,789,321,328
1976 $147,660,037 $3,423,586,207
1975 $149,558,896 $3,123,333,333
1974 $150,851,317 $3,183,637,117
1973 $121,188,716 $2,609,875,802
1972 $80,913,200 $1,901,697,370
1971 $76,480,285 $1,518,773,421
1970 $68,739,973 $1,457,768,455
1969 $65,967,974 $1,245,432,991
1968 $61,445,975 $1,075,561,623
1967 $59,261,976 $983,052,315
1966 $56,699,977 $976,717,015
1965 $54,879,978 $929,477,285
1964 $51,939,979 $910,877,686
1963 $47,039,981 $797,902,154
1962 $41,859,983 $747,846,862
1961 $35,699,986 $710,163,719
1960 $34,579,986 $709,941,874

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

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

GDP per capita in Lesotho vs Luxembourg by year

Lesotho
GDP per capita

GDP per capita, PPP
Luxembourg
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lesotho Luxembourg
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $1,089 - $147,252 -
2024 $1,023 $3,001 $137,782 $155,941
2023 $921 $2,881 $133,231 $150,508
2022 $1,030 $2,761 $123,720 $146,919
2021 $1,067 $2,545 $134,966 $136,772
2020 $919 $2,559 $116,860 $122,067
2019 $1,082 $2,568 $112,697 $121,372
2018 $1,171 $2,632 $116,927 $116,638
2017 $1,069 $2,619 $110,193 $114,986
2016 $992 $2,942 $106,899 $113,365
2015 $1,121 $3,035 $105,462 $107,860
2014 $1,174 $2,771 $123,679 $105,296
2013 $1,151 $2,538 $120,000 $100,925
2012 $1,218 $2,291 $112,585 $96,636
2011 $1,281 $2,279 $119,025 $94,475
2010 $1,119 $2,153 $110,886 $90,336
2009 $879 $2,036 $109,420 $86,919
2008 $898 $2,064 $120,422 $90,971
2007 $861 $1,932 $107,475 $85,126
2006 $925 $1,813 $90,789 $78,861
2005 $861 $1,681 $80,988 $68,788
2004 $767 $1,561 $76,545 $64,686
2003 $583 $1,484 $65,689 $60,192
2002 $389 $1,385 $53,006 $58,576
2001 $413 $1,350 $48,440 $56,136
2000 $443 $1,273 $48,660 $55,136
1999 $456 $1,199 $50,872 $49,845
1998 $465 $1,179 $47,445 $44,270
1997 $502 $1,154 $46,642 $42,488
1996 $480 $1,103 $50,444 $39,722
1995 $513 $1,037 $51,032 $38,345
1994 $456 $995 $43,933 $37,551
1993 $439 $932 $40,067 $35,899
1992 $444 $893 $39,571 $34,108
1991 $382 $830 $35,747 $33,191
1990 $330 $764 $33,465 $29,949
1989 $279 - $26,618 -
1988 $270.4 - $25,219 -
1987 $236.5 - $22,443 -
1986 $191.4 - $18,150 -
1985 $165.4 - $12,482 -
1984 $211 - $12,127 -
1983 $252 - $12,374 -
1982 $233.9 - $12,591 -
1981 $299.8 - $13,837 -
1980 $307 - $16,531 -
1979 $212.4 - $15,204 -
1978 $200.8 - $13,034 -
1977 $149.9 - $10,486 -
1976 $117.8 - $9,491 -
1975 $123.2 - $8,701 -
1974 $128.7 - $8,967 -
1973 $107 - $7,447 -
1972 $74 - $5,487 -
1971 $72.4 - $4,435 -
1970 $67.4 - $4,298 -
1969 $67.1 - $3,690 -
1968 $64.8 - $3,203 -
1967 $64.8 - $2,935 -
1966 $64.3 - $2,925 -
1965 $64.3 - $2,804 -
1964 $62.6 - $2,779 -
1963 $58.4 - $2,462 -
1962 $53.5 - $2,332 -
1961 $47 - $2,241 -
1960 $47 - $2,261 -

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

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

Lesotho's GDP per capita is $1,089, ranking 179/197, compared to $147,252 in Luxembourg, ranking 3/197. Adjusted for purchasing power (GDP per capita PPP), Lesotho ranks 180th at $3,001, while Luxembourg ranks 1st at $155,941.

Economic indicators

Lesotho Luxembourg
Gross domestic product
$2.57B
2025
$101B
2025
GDP rank
175/197
2025
75/197
2025
GDP growth
1.98%
2024-2025
0.64%
2024-2025
GDP per capita
$1,089
2025
$147,252
2025
GDP per capita rank
179/197
2025
3/197
2025
GDP per capita, PPP
$3,001
2024
$155,941
2024
GDP per capita PPP rank
180/197
2024
1/197
2024
Government debt
$1.26B
2025
$27.3B
2025
Debt-to-GDP ratio
49.1%
2025
27%
2025
Government debt per person
$535
2025
$39,717
2025
Government debt per person rank
165/185
2025
18/185
2025
Average annual personal income after taxes
$1,455
2026
$71,808
2026
Market capitalization of domestic companies n/a
$69.4B
2025
Number of millionaires n/a
85,000
2026
Number of billionaires n/a
1
2026
Income share by richest 10%
32.9%
2017
25%
2023
Income share by poorest 10%
1.7%
2017
2.8%
2023
Government expenditure, % of GDP
54.2%
2025
48.3%
2025
Consumer prices inflation
4.27%
2024-2025
2.26%
2024-2025
Central bank interest rate
6.5%
2025
n/a
Unemployment rate
18.7%
2024
6.5%
2025
Population
2402837
697802

Spending and national debt comparison by year

Lesotho
Spending

Debt
Luxembourg
Spending

Debt
1x
Year % of GDP
Lesotho Luxembourg
Government spending Government debt Government spending Government debt
2025 54.2% 49.1% 48.3% 27%
2024 52.5% 52.8% 46.8% 26.3%
2023 49% 61.1% 46.4% 24.7%
2022 50.8% 64.4% 44.3% 24.9%
2021 53.6% 58% 42.4% 24.2%
2020 54.2% 54.7% 47% 24.5%
2019 52.9% 58.2% 43.1% 22.3%
2018 51.9% 48.2% 42.3% 20.9%
2017 50.4% 41% 41.3% 21.8%
2016 54.1% 41.5% 40% 19.6%
2015 51.7% 45.8% 40.4% 21.1%
2014 50.1% 41.5% 40.6% 21.9%
2013 58.4% 41.2% 41.2% 22.4%
2012 58.1% 39.8% 41.8% 20.8%
2011 60.2% 36.2% 41.5% 18.5%
2010 55.3% 33.8% 42% 19.1%
2009 66.4% 35.9% 42.7% 15.3%
2008 54.1% 47% 37.9% 14.6%
2007 48.1% 49.6% 37.4% 8.09%
2006 43.2% 43.7% 39.4% 8.21%
2005 37.6% 41% 43.4% 7.95%
2004 36.3% 49.4% 43.7% 7.83%
2003 39.8% 52.6% 43.3% 7.43%
2002 41.2% 79.6% 41.8% 7.45%
2001 41.4% 108.7% 38.1% 7.62%
2000 39.3% 88.5% 38% 7.49%
1999 50.8% 83% 41.7% 8.39%
1998 51.4% 79.4% 43.9% 9.51%
1997 44.6% 65.7% 44.2% 10.1%
1996 41.5% 71.6% 42.5% 10.2%
1995 42.1% 62.8% 42% 10.3%
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/luxembourg | CC BY

In 2025, Lesotho's government spending was $1.4B, accounting for 54.2% of its GDP, while Luxembourg spent $48.8B, or 48.3% of GDP.

Debt-to-GDP ratio is 49.1% in Lesotho and 27% in Luxembourg, ranking 106/185 and 165/185, respectively.

Government deficit by year

Deficit/surplus
Lesotho

Luxembourg
1x
Year Deficit/surplus, % of GDP
Lesotho Luxembourg
2025 2.15% -0.96%
2024 8.17% 0.89%
2023 7.36% -0.65%
2022 -6.33% 0.21%
2021 -4.79% 1.11%
2020 1.45% -3.09%
2019 -5.09% 2.68%
2018 -4.41% 3.17%
2017 -2.02% 1.37%
2016 -9.43% 1.89%
2015 -1.38% 1.3%
2014 3.16% 1.33%
2013 -2.58% 0.84%
2012 4.56% 0.5%
2011 -9.85% 0.65%
2010 -1.49% -0.26%
2009 -4.16% -0.21%
2008 8.1% 3.37%
2007 10.8% 4.35%
2006 11.6% 1.9%
2005 4.46% -0.21%
2004 6.05% -1.39%
2003 0.89% 0.28%
2002 -2.44% 2.03%
2001 -2.76% 5.62%
2000 -0.95% 5.55%
1999 -15.3% 3.24%
1998 -11.8% 2.98%
1997 0.27% 2.65%
1996 2.11% 2.37%
1995 5.13% 2.71%
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/luxembourg | 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 Luxembourg's deficit of $976M, or 0.96% of GDP.

Over the past 31 years, Lesotho recorded a fiscal deficit in 16 of those years, while Luxembourg ran a deficit in 7 years. On average, Lesotho posted an annual deficit equal to 0.28% of GDP, compared to surplus of 1.49% of GDP for Luxembourg.

Inflation comparison by year

Inflation
Lesotho

Luxembourg
1x
Year Consumer prices inflation
Lesotho Luxembourg
2025 4.27% 2.26%
2024 6.11% 2.05%
2023 6.34% 3.74%
2022 8.27% 6.34%
2021 6.05% 2.53%
2020 4.98% 0.82%
2019 5.19% 1.74%
2018 4.75% 1.53%
2017 4.45% 1.73%
2016 6.6% 0.29%
2015 3.22% 0.47%
2014 5.37% 0.63%
2013 4.87% 1.73%
2012 6.05% 2.66%
2011 5.04% 3.41%
2010 -2.41% 2.27%
2009 -16.9% 0.37%
2008 10.7% 3.4%
2007 8.01% 2.31%
2006 6.07% 2.67%
2005 3.44% 2.49%
2004 5.02% 2.23%
2003 6.63% 2.05%
2002 33.8% 2.07%
2001 -9.62% 2.66%
2000 6.13% 3.15%
1999 - 1.03%
1998 - 0.96%
1997 - 1.37%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 26 years, Lesotho has recorded an average annual inflation rate of 5.1%, compared with 2.22% in Luxembourg. In 2025, inflation was 4.27% in Lesotho and 2.26% in Luxembourg.

Top exports between countries

Lesotho
Export category Export value
Luxembourg
Export category Export value
Chemicals & pharma $26K
Machinery & equipment $24K

Balance of trade

Lesotho Luxembourg
Current account balance
-$3.94M
2025
$5.29B
2025
Current account balance ranking
71/190
2025
31/190
2025
Current account balance, % of GDP
-0.15%
2025
+5.23%
2025
Goods imports
$1.69B
2025
$30.9B
2025
Goods exports
$933M
2025
$33B
2025
Service imports
$467M
2025
$133B
2025
Service exports
$16M
2025
$167B
2025
Imports of goods and services, % of GDP
104.5%
2025
159.4%
2025
Exports of goods and services, % of GDP
49.5%
2025
190.5%
2025

Economic freedom indices

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

Lesotho Luxembourg
Economic freedom 54.9 79.7
Economic freedom ranking 130/197 7/197
Property rights 41.7 96.6
Government integrity 39.6 88.7
Judicial effectiveness 43.6 99.1
Tax burden 76.4 62.3
Government spending 21.3 36.9
Fiscal health 93.5 98.6
Business freedom 50.6 89.5
Labor freedom 57 56.7
Monetary freedom 74.8 74.1
Trade freedom 65.4 79.4
Investment freedom 55 95
Financial freedom 40 80

Economic freedom comparison by year

Lesotho
Luxembourg
1x
Year Economic freedom index
Lesotho Luxembourg
2026 54.9 79.7
2025 54.1 79.5
2024 51.9 79.2
2023 51.6 78.4
2022 48.1 80.6
2021 53.5 76
2020 54.5 75.8
2019 53.1 75.9
2018 53.9 76.4
2017 53.9 75.9
2016 50.6 73.9
2015 49.6 73.2
2014 49.5 74.2
2013 47.9 74.2
2012 46.6 74.5
2011 47.5 76.2
2010 48.1 75.4
2009 49.7 75.2
2008 52.1 74.7
2007 53.2 74.6
2006 54.7 75.3
2005 53.9 76.3
2004 50.3 78.9
2003 52 79.9
2002 48.9 79.4
2001 50.6 80.1
2000 48.4 76.4
1999 48.2 72.4
1998 48.4 72.7
1997 47.2 72.8
1996 47 72.5

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

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

The Economic Freedom Index for Lesotho is 54.9, ranking 130/197, compared to 79.7 for Luxembourg, ranking 7/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lesotho Luxembourg
Services, % of GDP
55.6%
2025
81.4%
2025
Industry, % of GDP
25.2%
2025
8.88%
2025
Agriculture, forestry, and fishing, % of GDP
6.49%
2025
0.23%
2025
GNI, Atlas method
$3.03B
2025
$65.8B
2025
GNI per capita, PPP
$3,900
2025
$106,640
2025
Total reserves including gold
$1.01B
2024
$3.06B
2025
Total reserves ranking
142/177
2024
120/177
2025
Net foreign direct investment
$5.77M
2025
$196B
2025
Net inflows of foreign direct investment
-$12.6M
2024
$106B
2024
Net outflows of foreign direct investment
$0
2024
$109B
2024
Servicing debt to the IMF, % of GNI
3.79%
2024
n/a
Poverty at national poverty lines
49.7%
2017
17.3%
2021
Gross capital formation, % of GDP
31.2%
2025
15.5%
2025

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/luxembourg | 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. TradeMap (2022, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, 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.