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Economy of Lesotho vs Malaysia compared: GDP & Debt

Updated on by Georank team

Lesotho has a GDP of $2.27B compared to $422B for Malaysia, ranking 175/197 and 38/197 by economy size, respectively.

Lesotho has $1.29B in government debt (56.8% of GDP), compared to $296B (70.1% of GDP) in Malaysia.

Lesotho vs Malaysia GDP by year

Lesotho
Malaysia
1x
Year GDP, current $
Lesotho Malaysia
2024 $2,271,759,455 $422,227,005,429
2023 $2,117,962,445 $399,949,418,753
2022 $2,354,980,960 $407,830,525,990
2021 $2,412,130,057 $373,784,553,030
2020 $2,053,699,864 $337,456,163,961
2019 $2,390,702,296 $365,177,721,022
2018 $2,556,247,292 $358,788,845,713
2017 $2,306,741,672 $319,109,094,160
2016 $2,114,426,452 $301,256,033,870
2015 $2,359,686,725 $301,355,266,965
2014 $2,441,063,054 $338,066,095,097
2013 $2,367,112,932 $323,276,235,524
2012 $2,477,702,216 $314,443,047,642
2011 $2,579,409,620 $297,951,668,675
2010 $2,234,754,242 $255,017,638,456
2009 $1,740,894,965 $202,257,453,037
2008 $1,766,902,709 $230,811,614,370
2007 $1,682,131,785 $193,549,569,478
2006 $1,800,092,564 $162,692,258,307
2005 $1,682,343,527 $143,534,405,819
2004 $1,511,236,656 $124,749,473,684
2003 $1,157,825,435 $110,202,368,421
2002 $775,777,239 $100,845,526,316
2001 $825,706,961 $92,783,947,368
2000 $887,291,688 $93,789,736,842
1999 $912,773,681 $79,148,421,053
1998 $928,460,893 $72,167,498,981
1997 $998,004,259 $100,005,323,302
1996 $946,112,493 $100,855,393,910
1995 $1,001,894,000 $88,705,342,903
1994 $878,250,945 $74,478,356,958
1993 $835,582,062 $66,894,966,969
1992 $831,029,862 $59,167,550,163
1991 $704,325,367 $49,143,148,094
1990 $596,410,264 $44,024,585,240
1989 $495,409,233 $38,847,965,293
1988 $470,395,801 $35,272,109,220
1987 $402,768,324 $32,181,210,158
1986 $318,858,423 $27,734,111,400
1985 $268,629,926 $31,199,633,353
1984 $333,163,670 $33,942,897,422
1983 $386,699,309 $30,347,442,111
1982 $348,741,684 $26,804,493,635
1981 $434,188,034 $25,004,285,792
1980 $431,542,537 $24,488,224,677
1979 $290,134,593 $21,213,264,962
1978 $266,570,067 $16,358,079,862
1977 $193,315,048 $13,139,488,633
1976 $147,660,037 $11,050,234,599
1975 $149,558,896 $9,298,800,799
1974 $150,851,317 $9,496,204,302
1973 $121,188,716 $7,662,902,678
1972 $80,913,200 $5,043,347,250
1971 $76,480,285 $4,244,395,956
1970 $68,739,973 $3,864,145,667
1969 $65,967,974 $3,664,552,041
1968 $61,445,975 $3,330,371,551
1967 $59,261,976 $3,188,924,677
1966 $56,699,977 $3,143,517,944
1965 $54,879,978 $2,956,337,669
1964 $51,939,979 $2,674,423,922
1963 $47,039,981 $2,510,110,348
1962 $41,859,983 $2,001,489,602
1961 $35,699,986 $1,901,856,123
1960 $34,579,986 $1,916,229,477

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

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

GDP per capita in Lesotho vs Malaysia by year

Lesotho
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lesotho Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $972 $3,001 $11,874 $38,779
2023 $916 $2,881 $11,386 $36,467
2022 $1,030 $2,761 $11,755 $34,420
2021 $1,067 $2,545 $10,903 $29,823
2020 $919 $2,559 $9,958 $27,475
2019 $1,082 $2,568 $10,920 $28,934
2018 $1,171 $2,632 $10,902 $27,794
2017 $1,069 $2,619 $9,863 $26,416
2016 $992 $2,942 $9,477 $25,286
2015 $1,121 $3,035 $9,649 $24,526
2014 $1,174 $2,771 $11,013 $24,307
2013 $1,151 $2,538 $10,714 $23,161
2012 $1,218 $2,291 $10,601 $22,639
2011 $1,281 $2,279 $10,217 $21,324
2010 $1,119 $2,153 $8,899 $20,193
2009 $879 $2,036 $7,191 $18,923
2008 $898 $2,064 $8,372 $19,480
2007 $861 $1,932 $7,169 $18,617
2006 $925 $1,813 $6,158 $17,426
2005 $861 $1,681 $5,556 $16,371
2004 $767 $1,561 $4,939 $15,416
2003 $583 $1,484 $4,465 $14,387
2002 $389 $1,385 $4,184 $13,656
2001 $413 $1,350 $3,944 $13,072
2000 $443 $1,273 $4,084 $13,027
1999 $456 $1,199 $3,528 $11,980
1998 $465 $1,179 $3,294 $11,398
1997 $502 $1,154 $4,679 $12,469
1996 $480 $1,103 $4,837 $11,709
1995 $513 $1,037 $4,363 $10,720
1994 $456 $995 $3,758 $9,806
1993 $439 $932 $3,462 $9,018
1992 $444 $893 $3,141 $8,224
1991 $382 $830 $2,679 $7,583
1990 $330 $764 $2,469 $6,887
1989 $279 - $2,244 -
1988 $270.4 - $2,100 -
1987 $236.5 - $1,977 -
1986 $191.4 - $1,760 -
1985 $165.4 - $2,046 -
1984 $211 - $2,300 -
1983 $252 - $2,124 -
1982 $233.9 - $1,938 -
1981 $299.8 - $1,866 -
1980 $307 - $1,886 -
1979 $212.4 - $1,680 -
1978 $200.8 - $1,327 -
1977 $149.9 - $1,092 -
1976 $117.8 - $940 -
1975 $123.2 - $811 -
1974 $128.7 - $848 -
1973 $107 - $701 -
1972 $74 - $472 -
1971 $72.4 - $407 -
1970 $67.4 - $380 -
1969 $67.1 - $368 -
1968 $64.8 - $342 -
1967 $64.8 - $335 -
1966 $64.3 - $339 -
1965 $64.3 - $326 -
1964 $62.6 - $303 -
1963 $58.4 - $291.8 -
1962 $53.5 - $238.8 -
1961 $47 - $232.9 -
1960 $47 - $240.8 -

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

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

Lesotho's GDP per capita is $972, ranking 181/197, compared to $11,874 in Malaysia, ranking 79/197. Adjusted for purchasing power (GDP per capita PPP), Lesotho ranks 180th at $3,001, while Malaysia ranks 60th at $38,779.

Economic indicators

Lesotho Malaysia
Gross domestic product
$2.27B
2024
$422B
2024
GDP rank
175/197
2024
38/197
2024
GDP growth
2.85%
2023-2024
5.11%
2023-2024
GDP per capita
$972
2024
$11,874
2024
GDP per capita rank
181/197
2024
79/197
2024
GDP per capita, PPP
$3,001
2024
$38,779
2024
GDP per capita PPP rank
180/197
2024
60/197
2024
Government debt
$1.29B
2024
$296B
2024
Debt-to-GDP ratio
56.8%
2024
70.1%
2024
Government debt per person
$552
2024
$8,322
2024
Government debt per person rank
164/185
2024
62/185
2024
Average annual personal income after taxes
$6,545
2026
$11,005
2026
Market capitalization of domestic companies n/a
$449B
2024
Number of billionaires n/a
19
2025
Income share by richest 10%
32.9%
2017
30.9%
2021
Income share by poorest 10%
1.7%
2017
2.3%
2021
Government expenditure, % of GDP
53.5%
2024
23.9%
2024
Consumer prices inflation
6.11%
2023-2024
1.83%
2023-2024
Central bank interest rate
6.5%
2025
2.75%
2025
Unemployment rate
18.7%
2024
3.93%
2022
Population
2396633
36512221

Spending and national debt comparison by year

Lesotho
Spending

Debt
Malaysia
Spending

Debt
1x
Year % of GDP
Lesotho Malaysia
Government spending Government debt Government spending Government debt
2024 53.5% 56.8% 23.9% 70.1%
2023 49.4% 61.5% 24.9% 69.7%
2022 50.8% 64.4% 24.6% 65.5%
2021 53.8% 58% 24.5% 69.2%
2020 54.4% 54.7% 25% 67.7%
2019 53.6% 58.2% 23.6% 57.1%
2018 51.9% 48.2% 22.8% 55.6%
2017 50.4% 41% 22% 54.4%
2016 54.1% 41.5% 22.9% 55.8%
2015 51.7% 45.8% 24.7% 57%
2014 50.1% 41.5% 26% 55.4%
2013 58.4% 41.2% 27.8% 55.7%
2012 58.1% 39.8% 28.5% 53.8%
2011 60.2% 36.2% 27.1% 51.9%
2010 55.3% 33.8% 26.6% 51.2%
2009 66.4% 35.9% 30.9% 50.4%
2008 54.1% 47% 26.9% 39.4%
2007 48.1% 49.6% 25.9% 39.3%
2006 43.2% 43.7% 25.6% 39.7%
2005 37.6% 41% 24.5% 40.8%
2004 36.3% 49.4% 25.9% 42%
2003 39.8% 52.6% 28.1% 41.4%
2002 41.2% 79.6% 27.1% 39.5%
2001 41.4% 108.7% 28.2% 38.1%
2000 39.3% 88.5% 25.6% 32.5%
1999 50.8% 83% 24.6% 34.4%
1998 51.4% 79.4% 23.1% 33.6%
1997 44.6% 65.7% 21.2% 29.6%
1996 41.5% 71.6% 22.4% 32.8%
1995 42.1% 62.8% 22.6% 38.2%
1994 40.2% 67% 23.3% 43.7%
1993 36% 71.2% 24.6% 51.1%
1992 35.3% 64.4% 28.2% 59.1%
1991 31.3% 11.9% 27.4% 67.3%
1990 32.9% 18% 30.5% 74.1%
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/lesotho/malaysia | CC BY

In 2024, Lesotho's government spending was $1.22B, accounting for 53.5% of its GDP, while Malaysia spent $101B, or 23.9% of GDP.

Debt-to-GDP ratio is 56.8% in Lesotho and 70.1% in Malaysia, ranking 92/185 and 58/185, respectively.

Government deficit by year

Deficit/surplus
Lesotho

Malaysia
1x
Year Deficit/surplus, % of GDP
Lesotho Malaysia
2024 9.04% -3.95%
2023 7.31% -3.97%
2022 -6.41% -4.56%
2021 -4.95% -6.03%
2020 1.18% -4.9%
2019 -5.72% -2.01%
2018 -4.41% -2.64%
2017 -2.02% -2.41%
2016 -9.43% -2.6%
2015 -1.38% -2.55%
2014 3.16% -2.63%
2013 -2.58% -3.48%
2012 4.56% -3.1%
2011 -9.85% -3.57%
2010 -1.49% -4.32%
2009 -4.16% -5.88%
2008 8.1% -3.4%
2007 10.8% -2.57%
2006 11.6% -2.6%
2005 4.46% -2.83%
2004 6.05% -3.35%
2003 0.89% -4.6%
2002 -2.44% -3.96%
2001 -2.76% -4.36%
2000 -0.95% -6.05%
1999 -15.3% -3%
1998 -11.8% -0.63%
1997 0.27% 4.84%
1996 2.11% 3.27%
1995 5.13% 3.1%
1994 5.69% 5.45%
1993 7.55% 3.44%
1992 4.65% 1.81%
1991 9.74% 1.6%
1990 8.78% 0.15%
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/lesotho/malaysia | CC BY

In 2024, Lesotho's government surplus, the difference between spending and revenue, was $205M, equivalent to 9.04% of GDP. This compares to Malaysia's deficit of $16.7B, or 3.95% of GDP.

Over the past 35 years, Lesotho recorded a fiscal deficit in 16 of those years, while Malaysia ran a deficit in 27 years. On average, Lesotho posted an annual surplus equal to 0.73% of GDP, compared to deficit of 2.07% of GDP for Malaysia.

Inflation comparison by year

Inflation
Lesotho

Malaysia
1x
Year Consumer prices inflation
Lesotho Malaysia
2024 6.11% 1.83%
2023 6.34% 2.49%
2022 8.27% 3.38%
2021 6.05% 2.48%
2020 4.98% -1.14%
2019 5.19% 0.66%
2018 4.75% 0.88%
2017 4.45% 3.87%
2016 6.6% 2.09%
2015 3.22% 2.1%
2014 5.37% 3.14%
2013 4.87% 2.11%
2012 6.05% 1.66%
2011 5.04% 3.17%
2010 -2.41% 1.62%
2009 -16.9% 0.58%
2008 10.7% 5.44%
2007 8.01% 2.03%
2006 6.07% 3.61%
2005 3.44% 2.98%
2004 5.02% 1.42%
2003 6.63% 1.09%
2002 33.8% 1.81%
2001 -9.62% 1.42%
2000 6.13% 1.53%
1999 - 2.74%
1998 - 5.27%
1997 - 2.66%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 25 years, Lesotho has recorded an average annual inflation rate of 5.13%, compared with 2.09% in Malaysia. In 2024, inflation was 6.11% in Lesotho and 1.83% in Malaysia.

Top exports between countries

Lesotho
Export category Export value
Textiles & consumer goods $391K
Machinery & equipment $41K
Malaysia
Export category Export value
Chemicals & pharma $154K
Machinery & equipment $99K
Processed food, beverages & tobacco $45K
Raw materials & minerals $28K
Miscellaneous $4K

Balance of trade

Lesotho Malaysia
Current account balance
$89.2M
2024
$7.15B
2024
Current account balance ranking
68/190
2024
26/190
2024
Current account balance, % of GDP
+3.93%
2024
+1.69%
2024
Goods imports
$1.67B
2024
$223B
2024
Goods exports
$965M
2024
$248B
2024
Service imports
$415M
2024
$56.4B
2024
Service exports
$15.4M
2024
$53.4B
2024
Imports of goods and services, % of GDP
98.6%
2023
66%
2024
Exports of goods and services, % of GDP
42.9%
2023
71.3%
2024

Economic freedom indices

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

Lesotho Malaysia
Economic freedom 54.9 68
Economic freedom ranking 130/197 51/197
Property rights 41.7 62.7
Government integrity 39.6 52.9
Judicial effectiveness 43.6 63.4
Tax burden 76.4 83.5
Government spending 21.3 82
Fiscal health 93.5 62.5
Business freedom 50.6 79.6
Labor freedom 57 55.4
Monetary freedom 74.8 80.8
Trade freedom 65.4 83
Investment freedom 55 60
Financial freedom 40 50

Economic freedom comparison by year

Lesotho
Malaysia
1x
Year Economic freedom index
Lesotho Malaysia
2026 54.9 68
2025 54.1 67.1
2024 51.9 65.7
2023 51.6 67.3
2022 48.1 68.1
2021 53.5 74.4
2020 54.5 74.7
2019 53.1 74
2018 53.9 74.5
2017 53.9 73.8
2016 50.6 71.5
2015 49.6 70.8
2014 49.5 69.6
2013 47.9 66.1
2012 46.6 66.4
2011 47.5 66.3
2010 48.1 64.8
2009 49.7 64.6
2008 52.1 63.9
2007 53.2 63.8
2006 54.7 61.6
2005 53.9 61.9
2004 50.3 59.9
2003 52 61.1
2002 48.9 60.1
2001 50.6 60.2
2000 48.4 66
1999 48.2 68.9
1998 48.4 68.2
1997 47.2 66.8
1996 47 69.9
1995 - 71.9

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

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

The Economic Freedom Index for Lesotho is 54.9, ranking 130/197, compared to 68 for Malaysia, ranking 51/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lesotho Malaysia
Services, % of GDP
48%
2024
53.7%
2024
Industry, % of GDP
30.9%
2024
37%
2024
Agriculture, forestry, and fishing, % of GDP
6.5%
2024
8.13%
2024
GNI, Atlas method
$2.75B
2024
$414B
2024
GNI per capita, PPP
$3,580
2024
$37,450
2024
Total reserves including gold
$1.01B
2024
$116B
2024
Total reserves ranking
142/177
2024
24/177
2024
Net foreign direct investment
$12.6M
2024
-$2.55B
2024
Net inflows of foreign direct investment
-$12.6M
2024
$15.6B
2024
Net outflows of foreign direct investment
$0
2024
$13B
2024
Servicing debt to the IMF, % of GNI
4.06%
2024
n/a
Poverty at national poverty lines
49.7%
2017
5.8%
2023
Gross capital formation, % of GDP
27.2%
2023
22%
2024

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/lesotho/malaysia | 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. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.