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Economy of Lesotho vs Mali compared: GDP & Debt

Updated on by Georank

Lesotho has a GDP of $2.57B compared to $30.1B for Mali, ranking 175/197 and 114/197 by economy size, respectively.

Lesotho has $1.26B in government debt (49.1% of GDP), compared to $12.6B (41.9% of GDP) in Mali.

Lesotho vs Mali GDP by year

Lesotho
Mali
1x
Year GDP, current $
Lesotho Mali
2025 $2,573,572,920 $30,069,148,581
2024 $2,391,282,548 $26,761,281,077
2023 $2,129,871,530 $24,777,941,861
2022 $2,354,980,960 $22,539,987,719
2021 $2,412,130,057 $22,999,245,263
2020 $2,053,699,864 $20,698,560,939
2019 $2,390,702,296 $20,477,421,885
2018 $2,556,247,292 $20,368,015,381
2017 $2,306,741,672 $18,308,362,040
2016 $2,114,426,452 $16,743,796,800
2015 $2,359,686,725 $15,583,181,170
2014 $2,441,063,054 $17,081,681,993
2013 $2,367,112,932 $15,747,192,681
2012 $2,477,702,216 $14,795,114,603
2011 $2,579,409,620 $15,452,791,789
2010 $2,234,754,242 $12,710,739,160
2009 $1,740,894,965 $12,155,217,833
2008 $1,766,902,709 $11,462,490,840
2007 $1,682,131,785 $9,699,047,443
2006 $1,800,092,564 $8,212,007,554
2005 $1,682,343,527 $7,429,066,952
2004 $1,511,236,656 $6,485,774,930
2003 $1,157,825,435 $5,605,613,011
2002 $775,777,239 $4,647,238,257
2001 $825,706,961 $4,124,281,594
2000 $887,291,688 $3,521,570,876
1999 $912,773,681 $4,091,446,054
1998 $928,460,893 $3,894,433,432
1997 $998,004,259 $3,414,879,486
1996 $946,112,493 $3,743,103,420
1995 $1,001,894,000 $3,373,322,735
1994 $878,250,945 $2,655,768,636
1993 $835,582,062 $3,632,801,877
1992 $831,029,862 $3,680,775,037
1991 $704,325,367 $3,576,562,682
1990 $596,410,264 $3,248,417,791
1989 $495,409,233 $2,824,822,489
1988 $470,395,801 $2,712,207,901
1987 $402,768,324 $2,437,004,680
1986 $318,858,423 $2,132,938,007
1985 $268,629,926 $1,594,347,021
1984 $333,163,670 $1,387,809,615
1983 $386,699,309 $1,496,616,127
1982 $348,741,684 $1,680,304,773
1981 $434,188,034 $2,234,583,940
1980 $431,542,537 $2,704,362,789
1979 $290,134,593 $1,595,422,956
1978 $266,570,067 $1,222,702,573
1977 $193,315,048 $1,049,838,548
1976 $147,660,037 $939,228,017
1975 $149,558,896 $830,710,615
1974 $150,851,317 $538,747,340
1973 $121,188,716 $563,683,703
1972 $80,913,200 $486,617,280
1971 $76,480,285 $395,218,629
1970 $68,739,973 $359,772,315
1969 $65,967,974 $339,913,867
1968 $61,445,975 $343,771,973
1967 $59,261,976 $275,494,478
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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Lesotho vs Mali by year

Lesotho
GDP per capita

GDP per capita, PPP
Mali
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lesotho Mali
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $1,089 - $1,193 -
2024 $1,023 $3,001 $1,093 $3,315
2023 $921 $2,881 $1,042 $3,175
2022 $1,030 $2,761 $977 $3,014
2021 $1,067 $2,545 $1,027 $2,796
2020 $919 $2,559 $953 $2,724
2019 $1,082 $2,568 $972 $2,820
2018 $1,171 $2,632 $996 $2,684
2017 $1,069 $2,619 $924 $2,607
2016 $992 $2,942 $872 $2,532
2015 $1,121 $3,035 $838 $2,330
2014 $1,174 $2,771 $948 $2,185
2013 $1,151 $2,538 $902 $2,059
2012 $1,218 $2,291 $873 $1,990
2011 $1,281 $2,279 $938 $2,046
2010 $1,119 $2,153 $797 $2,012
2009 $879 $2,036 $787 $1,945
2008 $898 $2,064 $767 $1,893
2007 $861 $1,932 $671 $1,852
2006 $925 $1,813 $587 $1,832
2005 $861 $1,681 $549 $1,771
2004 $767 $1,561 $495 $1,730
2003 $583 $1,484 $442 $1,715
2002 $389 $1,385 $378 $1,581
2001 $413 $1,350 $346 $1,559
2000 $443 $1,273 $305 $1,357
1999 $456 $1,199 $364 $1,376
1998 $465 $1,179 $357 $1,332
1997 $502 $1,154 $321 $1,267
1996 $480 $1,103 $360 $1,224
1995 $513 $1,037 $331 $1,154
1994 $456 $995 $266.5 $1,147
1993 $439 $932 $372 $1,087
1992 $444 $893 $385 $1,039
1991 $382 $830 $382 $1,091
1990 $330 $764 $354 $956
1989 $279 - $314 -
1988 $270.4 - $307 -
1987 $236.5 - $280.7 -
1986 $191.4 - $250 -
1985 $165.4 - $190.4 -
1984 $211 - $169.1 -
1983 $252 - $186.3 -
1982 $233.9 - $213.8 -
1981 $299.8 - $290.5 -
1980 $307 - $359 -
1979 $212.4 - $216.3 -
1978 $200.8 - $169.1 -
1977 $149.9 - $148.1 -
1976 $117.8 - $134.9 -
1975 $123.2 - $121.5 -
1974 $128.7 - $80.2 -
1973 $107 - $85.4 -
1972 $74 - $75.1 -
1971 $72.4 - $62 -
1970 $67.4 - $57.3 -
1969 $67.1 - $55 -
1968 $64.8 - $56.5 -
1967 $64.8 - $46 -
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 (1960–2025, retrieved 2026-07-08).

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

Lesotho's GDP per capita is $1,089, ranking 179/197, compared to $1,193 in Mali, ranking 174/197. Adjusted for purchasing power (GDP per capita PPP), Lesotho ranks 180th at $3,001, while Mali ranks 174th at $3,315.

Economic indicators

Lesotho Mali
Gross domestic product
$2.57B
2025
$30.1B
2025
GDP rank
175/197
2025
114/197
2025
GDP growth
1.98%
2024-2025
5.6%
2024-2025
GDP per capita
$1,089
2025
$1,193
2025
GDP per capita rank
179/197
2025
174/197
2025
GDP per capita, PPP
$3,001
2024
$3,315
2024
GDP per capita PPP rank
180/197
2024
174/197
2024
Government debt
$1.26B
2025
$12.6B
2025
Debt-to-GDP ratio
49.1%
2025
41.9%
2025
Government debt per person
$535
2025
$500
2025
Government debt per person rank
165/185
2025
168/185
2025
Average annual personal income after taxes
$1,455
2026
$1,949
2026
Income share by richest 10%
32.9%
2017
28.3%
2021
Income share by poorest 10%
1.7%
2017
3.2%
2021
Government expenditure, % of GDP
54.2%
2025
20.9%
2025
Consumer prices inflation
4.27%
2024-2025
2.3%
2024-2025
Central bank interest rate
6.5%
2025
n/a
Unemployment rate
18.7%
2024
4.5%
2024
Population
2402837
26322576

Spending and national debt comparison by year

Lesotho
Spending

Debt
Mali
Spending

Debt
1x
Year % of GDP
Lesotho Mali
Government spending Government debt Government spending Government debt
2025 54.2% 49.1% 20.9% 41.9%
2024 52.5% 52.8% 21% 44%
2023 49% 61.1% 21.2% 44.3%
2022 50.8% 64.4% 20.8% 42.9%
2021 53.6% 58% 22.5% 43.2%
2020 54.2% 54.7% 22% 39.8%
2019 52.9% 58.2% 19.5% 34.3%
2018 51.9% 48.2% 17% 31.4%
2017 50.4% 41% 19.2% 30.1%
2016 54.1% 41.5% 18.6% 30.1%
2015 51.7% 45.8% 17.6% 25.8%
2014 50.1% 41.5% 16.8% 22.6%
2013 58.4% 41.2% 16.6% 22.2%
2012 58.1% 39.8% 13.1% 21.3%
2011 60.2% 36.2% 17.3% 20.1%
2010 55.3% 33.8% 17.4% 21.8%
2009 66.4% 35.9% 19.6% 18.8%
2008 54.1% 47% 16.2% 17.3%
2007 48.1% 49.6% 18.1% 15.6%
2006 43.2% 43.7% 18.9% 15.4%
2005 37.6% 41% 18.3% 39.5%
2004 36.3% 49.4% 18.5% 36.1%
2003 39.8% 52.6% 17.8% 37.7%
2002 41.2% 79.6% 16.8% 36%
2001 41.4% 108.7% 15.7% 66.3%
2000 39.3% 88.5% 16.5% 77%
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/mali | CC BY

In 2025, Lesotho's government spending was $1.4B, accounting for 54.2% of its GDP, while Mali spent $6.29B, or 20.9% of GDP.

Debt-to-GDP ratio is 49.1% in Lesotho and 41.9% in Mali, ranking 106/185 and 125/185, respectively.

Government deficit by year

Deficit/surplus
Lesotho

Mali
1x
Year Deficit/surplus, % of GDP
Lesotho Mali
2025 2.15% -1.59%
2024 8.17% -2.16%
2023 7.36% -3.05%
2022 -6.33% -4.05%
2021 -4.79% -4.12%
2020 1.45% -4.56%
2019 -5.09% -1.42%
2018 -4.41% -3.97%
2017 -2.02% -2.4%
2016 -9.43% -3.3%
2015 -1.38% -1.53%
2014 3.16% -2.43%
2013 -2.58% -1.99%
2012 4.56% -0.8%
2011 -9.85% -2.87%
2010 -1.49% -2.21%
2009 -4.16% -3.19%
2008 8.1% -1.69%
2007 10.8% -2.35%
2006 11.6% 23.7%
2005 4.46% -2.34%
2004 6.05% -2.01%
2003 0.89% -1.01%
2002 -2.44% -2.61%
2001 -2.76% -2.39%
2000 -0.95% -2.25%
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/mali | 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 Mali's deficit of $478M, or 1.59% of GDP.

Over the past 26 years, Lesotho recorded a fiscal deficit in 14 of those years, while Mali ran a deficit in 25 years. On average, Lesotho posted an annual surplus equal to 0.42% of GDP, compared to deficit of 1.48% of GDP for Mali.

Inflation comparison by year

Inflation
Lesotho

Mali
1x
Year Consumer prices inflation
Lesotho Mali
2025 4.27% 2.3%
2024 6.11% 3.2%
2023 6.34% 2.1%
2022 8.27% 9.7%
2021 6.05% 3.8%
2020 4.98% 0.5%
2019 5.19% -3%
2018 4.75% 1.9%
2017 4.45% 2.4%
2016 6.6% -1.8%
2015 3.22% 1.4%
2014 5.37% 0.9%
2013 4.87% -0.6%
2012 6.05% 5.3%
2011 5.04% 3%
2010 -2.41% 1.2%
2009 -16.9% 2.4%
2008 10.7% 9.2%
2007 8.01% 1.4%
2006 6.07% 1.6%
2005 3.44% 6.4%
2004 5.02% -3.1%
2003 6.63% -1.3%
2002 33.8% 5%
2001 -9.62% 5.2%
2000 6.13% -0.8%
1999 - -1.2%
1998 - 4.1%
1997 - -0.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (2000–2025, retrieved 2026-07-08).

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

Over the past 26 years, Lesotho has recorded an average annual inflation rate of 5.1%, compared with 2.24% in Mali. In 2025, inflation was 4.27% in Lesotho and 2.3% in Mali.

Balance of trade

Lesotho Mali
Current account balance
-$3.94M
2025
-$1.16B
2024
Current account balance ranking
71/190
2025
122/190
2024
Current account balance, % of GDP
-0.15%
2025
-4.33%
2024
Goods imports
$1.69B
2025
$5.49B
2024
Goods exports
$933M
2025
$5.48B
2024
Service imports
$467M
2025
$1.8B
2024
Service exports
$16M
2025
$516M
2024
Imports of goods and services, % of GDP
104.5%
2025
26.7%
2025
Exports of goods and services, % of GDP
49.5%
2025
22.1%
2025

Economic freedom indices

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

Lesotho Mali
Economic freedom 54.9 52.1
Economic freedom ranking 130/197 150/197
Property rights 41.7 13.8
Government integrity 39.6 23.2
Judicial effectiveness 43.6 23.3
Tax burden 76.4 67.9
Government spending 21.3 81.8
Fiscal health 93.5 73.6
Business freedom 50.6 40.8
Labor freedom 57 54.1
Monetary freedom 74.8 78.2
Trade freedom 65.4 64
Investment freedom 55 65
Financial freedom 40 40

Economic freedom comparison by year

Lesotho
Mali
1x
Year Economic freedom index
Lesotho Mali
2026 54.9 52.1
2025 54.1 52.6
2024 51.9 52.5
2023 51.6 54.5
2022 48.1 55.9
2021 53.5 55.6
2020 54.5 55.9
2019 53.1 58.1
2018 53.9 57.6
2017 53.9 58.6
2016 50.6 56.5
2015 49.6 56.4
2014 49.5 55.5
2013 47.9 56.4
2012 46.6 55.8
2011 47.5 56.3
2010 48.1 55.6
2009 49.7 55.6
2008 52.1 55.6
2007 53.2 54.7
2006 54.7 54.1
2005 53.9 57.3
2004 50.3 56.6
2003 52 58.6
2002 48.9 61.1
2001 50.6 60.1
2000 48.4 60.3
1999 48.2 58.4
1998 48.4 57.3
1997 47.2 56.4
1996 47 57
1995 - 52.4

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Lesotho is 54.9, ranking 130/197, compared to 52.1 for Mali, ranking 150/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lesotho Mali
Services, % of GDP
55.6%
2025
36.6%
2025
Industry, % of GDP
25.2%
2025
23.4%
2025
Agriculture, forestry, and fishing, % of GDP
6.49%
2025
33%
2025
GNI, Atlas method
$3.03B
2025
$28.3B
2025
GNI per capita, PPP
$3,900
2025
$3,400
2025
Total reserves including gold
$1.01B
2024
n/a
Total reserves ranking
142/177
2024
n/a
Net foreign direct investment
$5.77M
2025
-$843M
2024
Net inflows of foreign direct investment
-$12.6M
2024
$921M
2024
Net outflows of foreign direct investment
$0
2024
$78.1M
2024
Servicing debt to the IMF, % of GNI
3.79%
2024
1.42%
2024
Poverty at national poverty lines
49.7%
2017
43.3%
2024
Gross capital formation, % of GDP
31.2%
2025
20%
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/mali | 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 (1995–2026, 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)

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.