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Economy of Lesotho vs Qatar compared: GDP & Debt

Updated on by Georank team

Lesotho has a GDP of $2.27B compared to $219B for Qatar, ranking 175/197 and 56/197 by economy size, respectively.

Lesotho has $1.29B in government debt (56.8% of GDP), compared to $90.2B (41.2% of GDP) in Qatar.

Lesotho vs Qatar GDP by year

Lesotho
Qatar
1x
Year GDP, current $
Lesotho Qatar
2024 $2,271,759,455 $219,162,637,363
2023 $2,117,962,445 $217,308,516,484
2022 $2,354,980,960 $235,709,340,659
2021 $2,412,130,057 $179,732,142,857
2020 $2,053,699,864 $144,411,538,462
2019 $2,390,702,296 $176,371,428,571
2018 $2,556,247,292 $183,335,164,835
2017 $2,306,741,672 $161,099,175,824
2016 $2,114,426,452 $151,732,142,857
2015 $2,359,686,725 $161,739,835,165
2014 $2,441,063,054 $206,224,725,275
2013 $2,367,112,932 $198,727,747,253
2012 $2,477,702,216 $186,833,516,484
2011 $2,579,409,620 $167,775,274,725
2010 $2,234,754,242 $123,627,197,802
2009 $1,740,894,965 $97,798,351,648
2008 $1,766,902,709 $115,270,054,945
2007 $1,682,131,785 $79,712,087,912
2006 $1,800,092,564 $60,882,142,857
2005 $1,682,343,527 $44,530,494,505
2004 $1,511,236,656 $31,734,065,934
2003 $1,157,825,435 $23,533,791,209
2002 $775,777,239 $19,363,736,264
2001 $825,706,961 $17,538,461,538
2000 $887,291,688 $17,759,890,110
1999 $912,773,681 $12,393,131,868
1998 $928,460,893 $10,255,495,027
1997 $998,004,259 $11,297,802,115
1996 $946,112,493 $9,059,340,385
1995 $1,001,894,000 $8,137,911,978
1994 $878,250,945 $7,374,450,769
1993 $835,582,062 $7,156,593,654
1992 $831,029,862 $7,646,153,984
1991 $704,325,367 $6,883,516,484
1990 $596,410,264 $7,360,439,423
1989 $495,409,233 $6,487,912,088
1988 $470,395,801 $6,038,187,033
1987 $402,768,324 $5,446,428,681
1986 $318,858,423 $5,053,021,951
1985 $268,629,926 $6,153,296,456
1984 $333,163,670 $6,704,395,824
1983 $386,699,309 $6,467,582,308
1982 $348,741,684 $7,596,703,214
1981 $434,188,034 $8,661,263,764
1980 $431,542,537 $7,829,165,262
1979 $290,134,593 $5,632,962,997
1978 $266,570,067 $4,052,000,413
1977 $193,315,048 $3,617,564,638
1976 $147,660,037 $3,284,273,987
1975 $149,558,896 $2,512,773,166
1974 $150,851,317 $2,401,403,227
1973 $121,188,716 $793,885,560
1972 $80,913,200 $510,262,500
1971 $76,480,285 $387,703,106
1970 $68,739,973 $301,791,302
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/qatar | CC BY

GDP per capita in Lesotho vs Qatar by year

Lesotho
GDP per capita

GDP per capita, PPP
Qatar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lesotho Qatar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $972 $3,001 $76,689 $126,046
2023 $916 $2,881 $81,817 $129,368
2022 $1,030 $2,761 $88,701 $122,921
2021 $1,067 $2,545 $71,752 $116,833
2020 $919 $2,559 $51,684 $82,149
2019 $1,082 $2,568 $66,841 $107,503
2018 $1,171 $2,632 $71,040 $110,033
2017 $1,069 $2,619 $63,280 $99,358
2016 $992 $2,942 $61,254 $89,935
2015 $1,121 $3,035 $68,985 $102,546
2014 $1,174 $2,771 $95,841 $148,389
2013 $1,151 $2,538 $103,697 $169,203
2012 $1,218 $2,291 $108,470 $180,939
2011 $1,281 $2,279 $103,262 $174,620
2010 $1,119 $2,153 $76,463 $151,646
2009 $879 $2,036 $60,786 $125,898
2008 $898 $2,064 $80,781 $126,015
2007 $861 $1,932 $65,954 $124,056
2006 $925 $1,813 $62,582 $127,181
2005 $861 $1,681 $53,950 $115,250
2004 $767 $1,561 $41,036 $110,958
2003 $583 $1,484 $31,602 $94,120
2002 $389 $1,385 $27,227 $93,177
2001 $413 $1,350 $25,871 $89,805
2000 $443 $1,273 $27,535 $88,849
1999 $456 $1,199 $20,234 $84,690
1998 $465 $1,179 $17,665 $84,486
1997 $502 $1,154 $20,523 $79,219
1996 $480 $1,103 $17,125 $62,331
1995 $513 $1,037 $15,823 $60,321
1994 $456 $995 $14,765 $59,415
1993 $439 $932 $14,770 $59,125
1992 $444 $893 $16,280 $60,387
1991 $382 $830 $15,133 $54,759
1990 $330 $764 $16,722 $55,659
1989 $279 - $15,243 -
1988 $270.4 - $14,682 -
1987 $236.5 - $13,719 -
1986 $191.4 - $13,213 -
1985 $165.4 - $16,815 -
1984 $211 - $19,272 -
1983 $252 - $19,616 -
1982 $233.9 - $24,385 -
1981 $299.8 - $29,505 -
1980 $307 - $28,375 -
1979 $212.4 - $21,777 -
1978 $200.8 - $16,757 -
1977 $149.9 - $16,058 -
1976 $117.8 - $15,710 -
1975 $123.2 - $13,014 -
1974 $128.7 - $13,540 -
1973 $107 - $4,905 -
1972 $74 - $3,483 -
1971 $72.4 - $2,952 -
1970 $67.4 - $2,594 -
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/qatar | CC BY

Lesotho's GDP per capita is $972, ranking 181/197, compared to $76,689 in Qatar, ranking 11/197. Adjusted for purchasing power (GDP per capita PPP), Lesotho ranks 180th at $3,001, while Qatar ranks 5th at $126,046.

Economic indicators

Lesotho Qatar
Gross domestic product
$2.27B
2024
$219B
2024
GDP rank
175/197
2024
56/197
2024
GDP growth
2.85%
2023-2024
2.36%
2023-2024
GDP per capita
$972
2024
$76,689
2024
GDP per capita rank
181/197
2024
11/197
2024
GDP per capita, PPP
$3,001
2024
$126,046
2024
GDP per capita PPP rank
180/197
2024
5/197
2024
Government debt
$1.29B
2024
$90.2B
2024
Debt-to-GDP ratio
56.8%
2024
41.2%
2024
Government debt per person
$552
2024
$31,579
2024
Government debt per person rank
164/185
2024
23/185
2024
Average annual personal income after taxes
$6,545
2026
$35,660
2026
Market capitalization of domestic companies n/a
$170M
2024
Number of millionaires n/a
26,163
2025
Number of billionaires n/a
2
2025
Income share by richest 10%
32.9%
2017
25.8%
2017
Income share by poorest 10%
1.7%
2017
2.6%
2017
Government expenditure, % of GDP
53.5%
2024
26%
2024
Consumer prices inflation
6.11%
2023-2024
1.27%
2023-2024
Central bank interest rate
6.5%
2025
4.1%
2025
Unemployment rate
18.7%
2024
0.13%
2022
Population
2396633
2999260

Spending and national debt comparison by year

Lesotho
Spending

Debt
Qatar
Spending

Debt
1x
Year % of GDP
Lesotho Qatar
Government spending Government debt Government spending Government debt
2024 53.5% 56.8% 26% 41.2%
2023 49.4% 61.5% 27.3% 43.7%
2022 50.8% 64.4% 24.3% 42.6%
2021 53.8% 58% 29.4% 58.4%
2020 54.4% 54.7% 34.7% 72.6%
2019 53.6% 58.2% 32.5% 62.1%
2018 51.9% 48.2% 28.9% 52.2%
2017 50.4% 41% 34.7% 51.6%
2016 54.1% 41.5% 40.1% 46.7%
2015 51.7% 45.8% 38.6% 35.5%
2014 50.1% 41.5% 32.3% 24.9%
2013 58.4% 41.2% 28.3% 30.9%
2012 58.1% 39.8% 31% 32.1%
2011 60.2% 36.2% 28.5% 33.5%
2010 55.3% 33.8% 32% 30.4%
2009 66.4% 35.9% 36.4% 36%
2008 54.1% 47% 23.5% 11.4%
2007 48.1% 49.6% 29.5% 9.37%
2006 43.2% 43.7% 29.5% 13.9%
2005 37.6% 41% 29% 19.1%
2004 36.3% 49.4% 29.9% 30.1%
2003 39.8% 52.6% 28.5% 38.8%
2002 41.2% 79.6% 31.6% 47.7%
2001 41.4% 108.7% 32.1% 59.2%
2000 39.3% 88.5% 29.8% 51.6%
1999 50.8% 83% 42.4% 81.8%
1998 51.4% 79.4% 55.1% 76.6%
1997 44.6% 65.7% 47.6% 54.4%
1996 41.5% 71.6% 55.2% 57.8%
1995 42.1% 62.8% 52.2% 50.2%
1994 40.2% 67% 59.8% 54.8%
1993 36% 71.2% 62.8% 46.3%
1992 35.3% 64.4% 54.2% 19.9%
1991 31.3% 11.9% 57.5% 21.8%
1990 32.9% 18% 50% 12.6%
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/qatar | CC BY

In 2024, Lesotho's government spending was $1.22B, accounting for 53.5% of its GDP, while Qatar spent $56.9B, or 26% of GDP.

Debt-to-GDP ratio is 56.8% in Lesotho and 41.2% in Qatar, ranking 92/185 and 130/185, respectively.

Government deficit by year

Deficit/surplus
Lesotho

Qatar
1x
Year Deficit/surplus, % of GDP
Lesotho Qatar
2024 9.04% 0.69%
2023 7.31% 5.56%
2022 -6.41% 10.4%
2021 -4.95% 0.24%
2020 1.18% -2.13%
2019 -5.72% 1%
2018 -4.41% 2.26%
2017 -2.02% -6.82%
2016 -9.43% -9.2%
2015 -1.38% 18.4%
2014 3.16% 13.4%
2013 -2.58% 19.3%
2012 4.56% 8.55%
2011 -9.85% 5.24%
2010 -1.49% 4.6%
2009 -4.16% 14.1%
2008 8.1% 9.49%
2007 10.8% 10.3%
2006 11.6% 8.39%
2005 4.46% 9.8%
2004 6.05% 17.7%
2003 0.89% 6.71%
2002 -2.44% 7.89%
2001 -2.76% 4.48%
2000 -0.95% 4.62%
1999 -15.3% -4.35%
1998 -11.8% -7%
1997 0.27% -9.4%
1996 2.11% -8.73%
1995 5.13% -5.78%
1994 5.69% -11.8%
1993 7.55% -9.53%
1992 4.65% -2.74%
1991 9.74% -2.57%
1990 8.78% 3.23%
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/qatar | 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 Qatar's surplus of $1.52B, or 0.69% of GDP.

Over the past 35 years, Lesotho recorded a fiscal deficit in 16 of those years, while Qatar ran a deficit in 12 years. On average, Lesotho posted an annual surplus equal to 0.73% of GDP, compared to surplus of 3.04% of GDP for Qatar.

Inflation comparison by year

Inflation
Lesotho

Qatar
1x
Year Consumer prices inflation
Lesotho Qatar
2024 6.11% 1.27%
2023 6.34% 3.03%
2022 8.27% 5%
2021 6.05% 2.3%
2020 4.98% -2.54%
2019 5.19% -0.67%
2018 4.75% 0.26%
2017 4.45% 0.39%
2016 6.6% 2.68%
2015 3.22% 1.81%
2014 5.37% 3.35%
2013 4.87% 3.22%
2012 6.05% 2.32%
2011 5.04% 1.14%
2010 -2.41% -2.43%
2009 -16.9% -4.86%
2008 10.7% 15.1%
2007 8.01% 13.8%
2006 6.07% 11.8%
2005 3.44% 8.81%
2004 5.02% 6.8%
2003 6.63% 2.26%
2002 33.8% 0.24%
2001 -9.62% 1.47%
2000 6.13% 1.65%
1999 - 2.18%
1998 - 2.95%
1997 - 4.83%

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

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

Over the past 25 years, Lesotho has recorded an average annual inflation rate of 5.13%, compared with 3.13% in Qatar. In 2024, inflation was 6.11% in Lesotho and 1.27% in Qatar.

Top exports between countries

Lesotho
Export category Export value
Textiles & consumer goods $7K
Chemicals & pharma $1K
Metals $1K
Precious metals & jewellery $1K
Wood & paper products $1K
Qatar
Export category Export value

Balance of trade

Lesotho Qatar
Current account balance
$89.2M
2024
$37.9B
2024
Current account balance ranking
68/190
2024
16/190
2024
Current account balance, % of GDP
+3.93%
2024
+17.3%
2024
Goods imports
$1.67B
2024
$32.6B
2024
Goods exports
$965M
2024
$95B
2024
Service imports
$415M
2024
$37.1B
2024
Service exports
$15.4M
2024
$30.2B
2024
Imports of goods and services, % of GDP
98.6%
2023
31.6%
2022
Exports of goods and services, % of GDP
42.9%
2023
68.6%
2022

Economic freedom indices

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

Lesotho Qatar
Economic freedom 54.9 70.2
Economic freedom ranking 130/197 37/197
Property rights 41.7 66.2
Government integrity 39.6 53.5
Judicial effectiveness 43.6 41.5
Tax burden 76.4 99.9
Government spending 21.3 79.9
Fiscal health 93.5 96.6
Business freedom 50.6 68
Labor freedom 57 58.5
Monetary freedom 74.8 76
Trade freedom 65.4 81.8
Investment freedom 55 60
Financial freedom 40 60

Economic freedom comparison by year

Lesotho
Qatar
1x
Year Economic freedom index
Lesotho Qatar
2026 54.9 70.2
2025 54.1 70.2
2024 51.9 68.8
2023 51.6 68.6
2022 48.1 67.7
2021 53.5 72
2020 54.5 72.3
2019 53.1 72.6
2018 53.9 72.6
2017 53.9 73.1
2016 50.6 70.7
2015 49.6 70.8
2014 49.5 71.2
2013 47.9 71.3
2012 46.6 71.3
2011 47.5 70.5
2010 48.1 69
2009 49.7 65.8
2008 52.1 62.2
2007 53.2 62.9
2006 54.7 62.4
2005 53.9 63.5
2004 50.3 66.5
2003 52 65.9
2002 48.9 61.9
2001 50.6 60
2000 48.4 62
1999 48.2 62
1998 48.4 -
1997 47.2 -
1996 47 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Lesotho is 54.9, ranking 130/197, compared to 70.2 for Qatar, ranking 37/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lesotho Qatar
Services, % of GDP
48%
2024
46.1%
2024
Industry, % of GDP
30.9%
2024
58.2%
2024
Agriculture, forestry, and fishing, % of GDP
6.5%
2024
0.29%
2024
GNI, Atlas method
$2.75B
2024
$221B
2024
GNI per capita, PPP
$3,580
2024
$121,900
2024
Total reserves including gold
$1.01B
2024
$54B
2024
Total reserves ranking
142/177
2024
40/177
2024
Net foreign direct investment
$12.6M
2024
$1.1B
2024
Net inflows of foreign direct investment
-$12.6M
2024
$460M
2024
Net outflows of foreign direct investment
$0
2024
$1.56B
2024
Servicing debt to the IMF, % of GNI
4.06%
2024
n/a
Poverty at national poverty lines
49.7%
2017
n/a
Gross capital formation, % of GDP
27.2%
2023
30.6%
2022

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/qatar | 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 (1996–2026, 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 (2023–2024, 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.