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Economy of Lesotho vs Mozambique compared: GDP & Debt

Updated on by Georank team

Lesotho has a GDP of $2.27B compared to $22.7B for Mozambique, ranking 175/197 and 123/197 by economy size, respectively.

Lesotho has $1.29B in government debt (56.8% of GDP), compared to $21.2B (93.2% of GDP) in Mozambique.

Lesotho vs Mozambique GDP by year

Lesotho
Mozambique
1x
Year GDP, current $
Lesotho Mozambique
2024 $2,271,759,455 $22,745,341,305
2023 $2,117,962,445 $20,921,079,533
2022 $2,354,980,960 $18,883,528,581
2021 $2,412,130,057 $16,168,055,475
2020 $2,053,699,864 $14,235,420,174
2019 $2,390,702,296 $15,512,759,047
2018 $2,556,247,292 $15,017,358,953
2017 $2,306,741,672 $13,264,640,646
2016 $2,114,426,452 $12,069,051,237
2015 $2,359,686,725 $16,208,985,770
2014 $2,441,063,054 $17,978,246,586
2013 $2,367,112,932 $17,198,073,057
2012 $2,477,702,216 $16,688,114,144
2011 $2,579,409,620 $14,619,279,989
2010 $2,234,754,242 $11,411,894,724
2009 $1,740,894,965 $12,263,894,790
2008 $1,766,902,709 $12,920,340,965
2007 $1,682,131,785 $10,811,456,006
2006 $1,800,092,564 $9,509,835,537
2005 $1,682,343,527 $8,868,504,900
2004 $1,511,236,656 $7,937,255,565
2003 $1,157,825,435 $6,583,526,861
2002 $775,777,239 $5,950,769,427
2001 $825,706,961 $5,650,154,067
2000 $887,291,688 $5,930,685,215
1999 $912,773,681 $6,285,219,691
1998 $928,460,893 $5,551,118,149
1997 $998,004,259 $4,873,663,775
1996 $946,112,493 $4,030,146,135
1995 $1,001,894,000 $3,061,646,174
1994 $878,250,945 $2,958,108,170
1993 $835,582,062 $2,883,161,897
1992 $831,029,862 $2,798,696,511
1991 $704,325,367 $3,854,856,435
1990 $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/lesotho/mozambique | CC BY

GDP per capita in Lesotho vs Mozambique by year

Lesotho
GDP per capita

GDP per capita, PPP
Mozambique
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lesotho Mozambique
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $972 $3,001 $657 $1,705
2023 $916 $2,881 $622 $1,678
2022 $1,030 $2,761 $578 $1,582
2021 $1,067 $2,545 $510 $1,457
2020 $919 $2,559 $462 $1,412
2019 $1,082 $2,568 $519 $1,389
2018 $1,171 $2,632 $518 $1,326
2017 $1,069 $2,619 $471 $1,283
2016 $992 $2,942 $441 $1,379
2015 $1,121 $3,035 $611 $1,318
2014 $1,174 $2,771 $697 $1,166
2013 $1,151 $2,538 $687 $1,114
2012 $1,218 $2,291 $686 $1,076
2011 $1,281 $2,279 $618 $1,064
2010 $1,119 $2,153 $496 $1,000
2009 $879 $2,036 $548 $951
2008 $898 $2,064 $592 $916
2007 $861 $1,932 $508 $862
2006 $925 $1,813 $457 $798
2005 $861 $1,681 $437 $721
2004 $767 $1,561 $400 $673
2003 $583 $1,484 $339 $620
2002 $389 $1,385 $314 $580
2001 $413 $1,350 $305 $533
2000 $443 $1,273 $327 $472
1999 $456 $1,199 $354 $468
1998 $465 $1,179 $320 $422
1997 $502 $1,154 $287.5 $387
1996 $480 $1,103 $244.4 $350
1995 $513 $1,037 $191.8 $321
1994 $456 $995 $196.8 $326
1993 $439 $932 $205.2 $321
1992 $444 $893 $205.6 $292
1991 $382 $830 $288.7 $315
1990 $330 $764 - $296
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/lesotho/mozambique | CC BY

Lesotho's GDP per capita is $972, ranking 181/197, compared to $657 in Mozambique, ranking 189/197. Adjusted for purchasing power (GDP per capita PPP), Lesotho ranks 180th at $3,001, while Mozambique ranks 192nd at $1,705.

Economic indicators

Lesotho Mozambique
Gross domestic product
$2.27B
2024
$22.7B
2024
GDP rank
175/197
2024
123/197
2024
GDP growth
2.85%
2023-2024
2.15%
2023-2024
GDP per capita
$972
2024
$657
2024
GDP per capita rank
181/197
2024
189/197
2024
GDP per capita, PPP
$3,001
2024
$1,705
2024
GDP per capita PPP rank
180/197
2024
192/197
2024
Government debt
$1.29B
2024
$21.2B
2024
Debt-to-GDP ratio
56.8%
2024
93.2%
2024
Government debt per person
$552
2024
$612
2024
Government debt per person rank
164/185
2024
159/185
2024
Average annual personal income after taxes
$6,545
2026
$1,778
2026
Income share by richest 10%
32.9%
2017
40.8%
2022
Income share by poorest 10%
1.7%
2017
1.7%
2022
Government expenditure, % of GDP
53.5%
2024
33.2%
2024
Consumer prices inflation
6.11%
2023-2024
3.2%
2023-2024
Central bank interest rate
6.5%
2025
9.75%
2025
Unemployment rate
18.7%
2024
6.79%
2022
Population
2396633
36941128

Spending and national debt comparison by year

Lesotho
Spending

Debt
Mozambique
Spending

Debt
1x
Year % of GDP
Lesotho Mozambique
Government spending Government debt Government spending Government debt
2024 53.5% 56.8% 33.2% 93.2%
2023 49.4% 61.5% 33.3% 90.9%
2022 50.8% 64.4% 32.9% 100.3%
2021 53.8% 58% 32.1% 104.3%
2020 54.4% 54.7% 33.9% 120%
2019 53.6% 58.2% 28% 98.3%
2018 51.9% 48.2% 32.9% 105.5%
2017 50.4% 41% 29.5% 103.8%
2016 54.1% 41.5% 29.1% 124.8%
2015 51.7% 45.8% 32.2% 86%
2014 50.1% 41.5% 39.7% 63.4%
2013 58.4% 41.2% 31.7% 49.5%
2012 58.1% 39.8% 28.1% 36.7%
2011 60.2% 36.2% 28.9% 34.2%
2010 55.3% 33.8% 26.7% 38.6%
2009 66.4% 35.9% 25.7% 39.3%
2008 54.1% 47% 21.3% 32.8%
2007 48.1% 49.6% 20.9% 31.2%
2006 43.2% 43.7% 20.1% 40%
2005 37.6% 41% 17% 60.1%
2004 36.3% 49.4% 17.8% 50.8%
2003 39.8% 52.6% 18.6% 63.2%
2002 41.2% 79.6% 18.6% 63.4%
2001 41.4% 108.7% 20.8% 99.8%
2000 39.3% 88.5% 17.2% 95.8%
1999 50.8% 83% 15.6% 94.7%
1998 51.4% 79.4% 14.9% -
1997 44.6% 65.7% 16.5% -
1996 41.5% 71.6% 14.9% -
1995 42.1% 62.8% 18.8% -
1994 40.2% 67% 22.9% -
1993 36% 71.2% 20.7% -
1992 35.3% 64.4% 21.1% -
1991 31.3% 11.9% 17.3% -
1990 32.9% 18% 21% -
1989 35.8% 112.5% 27% -
1988 35.3% 105.2% 27% -
1987 40.3% 97.4% 22.9% -
1986 33.2% 92.5% 24.2% -
1985 32.8% 86.3% 21% -
1984 26.8% 57.2% 30.9% -
1983 27.2% 56.7% 35.3% -
1982 29.9% 61.4% 27% -
1981 - - 23.8% -
1980 - - 14.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

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

In 2024, Lesotho's government spending was $1.22B, accounting for 53.5% of its GDP, while Mozambique spent $7.56B, or 33.2% of GDP.

Debt-to-GDP ratio is 56.8% in Lesotho and 93.2% in Mozambique, ranking 92/185 and 28/185, respectively.

Government deficit by year

Deficit/surplus
Lesotho

Mozambique
1x
Year Deficit/surplus, % of GDP
Lesotho Mozambique
2024 9.04% -6.17%
2023 7.31% -4.26%
2022 -6.41% -5.22%
2021 -4.95% -5.23%
2020 1.18% -6.19%
2019 -5.72% 1.7%
2018 -4.41% -7.39%
2017 -2.02% -2.9%
2016 -9.43% -5.42%
2015 -1.38% -6.55%
2014 3.16% -9.75%
2013 -2.58% -2.46%
2012 4.56% -3.45%
2011 -9.85% -4.34%
2010 -1.49% -3.5%
2009 -4.16% -4.35%
2008 8.1% -1.9%
2007 10.8% -2.19%
2006 11.6% -3.03%
2005 4.46% -2.06%
2004 6.05% -3.17%
2003 0.89% -2.64%
2002 -2.44% -3.36%
2001 -2.76% -4.43%
2000 -0.95% -1.26%
1999 -15.3% -0.31%
1998 -11.8% -1.08%
1997 0.27% -1.81%
1996 2.11% -2.07%
1995 5.13% -2.46%
1994 5.69% -4%
1993 7.55% -2.53%
1992 4.65% -1.85%
1991 9.74% -2.01%
1990 8.78% -4.42%
1989 3.88% -4.23%
1988 -1.87% -6.47%
1987 -2.85% -7.24%
1986 0.87% -12.1%
1985 1.68% -9.69%
1984 4.82% -13.4%
1983 1.85% -15.8%
1982 -2.03% -3.61%
1981 - -7.41%
1980 - -1.47%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

GeoRank.org/economy/lesotho/mozambique | 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 Mozambique's deficit of $1.4B, or 6.17% of GDP.

Over the past 34 years, Lesotho recorded a fiscal deficit in 16 of those years, while Mozambique ran a deficit in 33 years. On average, Lesotho posted an annual surplus equal to 0.49% of GDP, compared to deficit of 3.46% of GDP for Mozambique.

Inflation comparison by year

Inflation
Lesotho

Mozambique
1x
Year Consumer prices inflation
Lesotho Mozambique
2024 6.11% 3.2%
2023 6.34% 7%
2022 8.27% 10.4%
2021 6.05% 6.6%
2020 4.98% 0.9%
2019 5.19% 5.7%
2018 4.75% 3.2%
2017 4.45% 15.8%
2016 6.6% 18.4%
2015 3.22% 3.6%
2014 5.37% 2.6%
2013 4.87% 4.3%
2012 6.05% 2.6%
2011 5.04% 11.2%
2010 -2.41% 12.4%
2009 -16.9% 3.8%
2008 10.7% 14.5%
2007 8.01% 10.4%
2006 6.07% 13.2%
2005 3.44% 6.4%
2004 5.02% 12.6%
2003 6.63% 13.5%
2002 33.8% 16.8%
2001 -9.62% 9.1%
2000 6.13% 12.7%
1999 - 2.9%
1998 - 1.5%
1997 - 7.4%

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/lesotho/mozambique | CC BY

Over the past 25 years, Lesotho has recorded an average annual inflation rate of 5.13%, compared with 8.84% in Mozambique. In 2024, inflation was 6.11% in Lesotho and 3.2% in Mozambique.

Top exports between countries

Lesotho
Export category Export value
Textiles & consumer goods $429K
Metals $42K
Machinery & equipment $5K
Chemicals & pharma $1K
Mozambique
Export category Export value
Raw materials & minerals $5.88M
Textiles & consumer goods $344K
Machinery & equipment $18K
Raw agricultural goods $6K
Processed food, beverages & tobacco $1K

Balance of trade

Lesotho Mozambique
Current account balance
$89.2M
2024
-$2.49B
2024
Current account balance ranking
68/190
2024
150/190
2024
Current account balance, % of GDP
+3.93%
2024
-11%
2024
Goods imports
$1.67B
2024
$8.38B
2024
Goods exports
$965M
2024
$8.21B
2024
Service imports
$415M
2024
$2.11B
2024
Service exports
$15.4M
2024
$1.15B
2024
Imports of goods and services, % of GDP
98.6%
2023
52.8%
2024
Exports of goods and services, % of GDP
42.9%
2023
42.8%
2024

Economic freedom indices

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

Lesotho Mozambique
Economic freedom 54.9 49.6
Economic freedom ranking 130/197 164/197
Property rights 41.7 29.7
Government integrity 39.6 25.1
Judicial effectiveness 43.6 43.4
Tax burden 76.4 75.8
Government spending 21.3 67
Fiscal health 93.5 39.1
Business freedom 50.6 40.2
Labor freedom 57 47.7
Monetary freedom 74.8 76.2
Trade freedom 65.4 71.2
Investment freedom 55 40
Financial freedom 40 40

Economic freedom comparison by year

Lesotho
Mozambique
1x
Year Economic freedom index
Lesotho Mozambique
2026 54.9 49.6
2025 54.1 50.7
2024 51.9 50.7
2023 51.6 52.5
2022 48.1 51.3
2021 53.5 51.6
2020 54.5 50.5
2019 53.1 48.6
2018 53.9 46.3
2017 53.9 49.9
2016 50.6 53.2
2015 49.6 54.8
2014 49.5 55
2013 47.9 55
2012 46.6 57.1
2011 47.5 56.8
2010 48.1 56
2009 49.7 55.7
2008 52.1 55.4
2007 53.2 54.7
2006 54.7 51.9
2005 53.9 54.6
2004 50.3 57.2
2003 52 58.6
2002 48.9 57.7
2001 50.6 59.2
2000 48.4 52.2
1999 48.2 48.9
1998 48.4 43
1997 47.2 44
1996 47 48.4
1995 - 45.5

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

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

The Economic Freedom Index for Lesotho is 54.9, ranking 130/197, compared to 49.6 for Mozambique, ranking 164/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lesotho Mozambique
Services, % of GDP
48%
2024
41.1%
2024
Industry, % of GDP
30.9%
2024
21.9%
2024
Agriculture, forestry, and fishing, % of GDP
6.5%
2024
25.2%
2024
GNI, Atlas method
$2.75B
2024
$19.1B
2024
GNI per capita, PPP
$3,580
2024
$1,520
2024
Total reserves including gold
$1.01B
2024
$3.84B
2024
Total reserves ranking
142/177
2024
108/177
2024
Net foreign direct investment
$12.6M
2024
-$3.55B
2024
Net inflows of foreign direct investment
-$12.6M
2024
$3.51B
2024
Net outflows of foreign direct investment
$0
2024
-$44.1M
2024
Servicing debt to the IMF, % of GNI
4.06%
2024
22.4%
2024
Poverty at national poverty lines
49.7%
2017
65%
2022
Gross capital formation, % of GDP
27.2%
2023
17.7%
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/mozambique | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2022–2024, 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.