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Economy of Lesotho vs Sierra Leone compared: GDP & Debt

Updated on by Georank team

Lesotho has a GDP of $2.27B compared to $6.97B for Sierra Leone, ranking 175/197 and 160/197 by economy size, respectively.

Lesotho has $1.29B in government debt (56.8% of GDP), compared to $2.91B (41.7% of GDP) in Sierra Leone.

Lesotho vs Sierra Leone GDP by year

Lesotho
Sierra Leone
1x
Year GDP, current $
Lesotho Sierra Leone
2024 $2,271,759,455 $6,971,127,235
2023 $2,117,962,445 $6,415,852,767
2022 $2,354,980,960 $7,121,125,278
2021 $2,412,130,057 $7,166,931,485
2020 $2,053,699,864 $6,688,307,703
2019 $2,390,702,296 $6,523,577,594
2018 $2,556,247,292 $6,390,514,689
2017 $2,306,741,672 $5,749,846,528
2016 $2,114,426,452 $6,084,297,211
2015 $2,359,686,725 $6,788,352,975
2014 $2,441,063,054 $7,686,138,791
2013 $2,367,112,932 $7,502,762,863
2012 $2,477,702,216 $6,141,666,509
2011 $2,579,409,620 $4,861,632,885
2010 $2,234,754,242 $4,262,805,967
2009 $1,740,894,965 $3,953,403,098
2008 $1,766,902,709 $4,157,895,298
2007 $1,682,131,785 $3,632,957,611
2006 $1,800,092,564 $3,263,697,467
2005 $1,682,343,527 $2,545,275,313
2004 $1,511,236,656 $2,237,350,687
2003 $1,157,825,435 $2,142,618,046
2002 $775,777,239 $1,933,863,911
2001 $825,706,961 $1,681,473,894
2000 $887,291,688 $635,866,404
1999 $912,773,681 $669,386,624
1998 $928,460,893 $672,368,187
1997 $998,004,259 $850,232,760
1996 $946,112,493 $941,709,423
1995 $1,001,894,000 $870,740,292
1994 $878,250,945 $911,853,802
1993 $835,582,062 $768,867,883
1992 $831,029,862 $679,940,814
1991 $704,325,367 $779,981,987
1990 $596,410,264 $649,644,098
1989 $495,409,233 $932,974,420
1988 $470,395,801 $1,055,083,933
1987 $402,768,324 $660,106,336
1986 $318,858,423 $490,181,457
1985 $268,629,926 $856,890,459
1984 $333,163,670 $1,087,471,862
1983 $386,699,309 $995,104,305
1982 $348,741,684 $1,295,361,886
1981 $434,188,034 $1,114,830,472
1980 $431,542,537 $1,100,685,845
1979 $290,134,593 $1,109,374,911
1978 $266,570,067 $960,728,339
1977 $193,315,048 $691,777,584
1976 $147,660,037 $594,895,942
1975 $149,558,896 $679,336,344
1974 $150,851,317 $648,590,643
1973 $121,188,716 $575,230,724
1972 $80,913,200 $465,381,340
1971 $76,480,285 $419,549,305
1970 $68,739,973 $434,410,974
1969 $65,967,974 $408,690,163
1968 $61,445,975 $329,859,732
1967 $59,261,976 $348,795,303
1966 $56,699,977 $375,479,850
1965 $54,879,978 $359,379,856
1964 $51,939,979 $371,847,461
1963 $47,039,981 $348,547,279
1962 $41,859,983 $342,721,416
1961 $35,699,986 $327,834,191
1960 $34,579,986 $322,009,962

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

GeoRank.org/economy/lesotho/sierra-leone | CC BY

GDP per capita in Lesotho vs Sierra Leone by year

Lesotho
GDP per capita

GDP per capita, PPP
Sierra Leone
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lesotho Sierra Leone
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $972 $3,001 $807 $3,522
2023 $916 $2,881 $758 $3,368
2022 $1,030 $2,761 $860 $3,144
2021 $1,067 $2,545 $885 $2,849
2020 $919 $2,559 $845 $2,719
2019 $1,082 $2,568 $844 $2,704
2018 $1,171 $2,632 $846 $2,640
2017 $1,069 $2,619 $779 $2,501
2016 $992 $2,942 $844 $2,635
2015 $1,121 $3,035 $965 $2,560
2014 $1,174 $2,771 $1,118 $2,762
2013 $1,151 $2,538 $1,117 $2,701
2012 $1,218 $2,291 $938 $2,317
2011 $1,281 $2,279 $761 $2,043
2010 $1,119 $2,153 $685 $1,900
2009 $879 $2,036 $653 $1,814
2008 $898 $2,064 $705 $1,824
2007 $861 $1,932 $632 $1,770
2006 $925 $1,813 $580 $1,698
2005 $861 $1,681 $463 $1,615
2004 $767 $1,561 $418 $1,541
2003 $583 $1,484 $414 $1,458
2002 $389 $1,385 $389 $1,360
2001 $413 $1,350 $358 $1,121
2000 $443 $1,273 $143.7 $1,242
1999 $456 $1,199 $155 $1,167
1998 $465 $1,179 $156.5 $1,180
1997 $502 $1,154 $199.9 $1,157
1996 $480 $1,103 $224.3 $1,225
1995 $513 $1,037 $208.4 $1,187
1994 $456 $995 $218.5 $1,266
1993 $439 $932 $185 $1,269
1992 $444 $893 $163.2 $1,220
1991 $382 $830 $183.7 $1,445
1990 $330 $764 $154.8 $1,382
1989 $279 - $231.3 -
1988 $270.4 - $268.2 -
1987 $236.5 - $172.4 -
1986 $191.4 - $131.5 -
1985 $165.4 - $235.5 -
1984 $211 - $306 -
1983 $252 - $285.8 -
1982 $233.9 - $380 -
1981 $299.8 - $334 -
1980 $307 - $336 -
1979 $212.4 - $346 -
1978 $200.8 - $305 -
1977 $149.9 - $224.2 -
1976 $117.8 - $196.4 -
1975 $123.2 - $228.4 -
1974 $128.7 - $222.1 -
1973 $107 - $200.6 -
1972 $74 - $165.4 -
1971 $72.4 - $151.8 -
1970 $67.4 - $160.2 -
1969 $67.1 - $153.6 -
1968 $64.8 - $126.3 -
1967 $64.8 - $136.1 -
1966 $64.3 - $149.3 -
1965 $64.3 - $145.6 -
1964 $62.6 - $153.4 -
1963 $58.4 - $146.3 -
1962 $53.5 - $146.3 -
1961 $47 - $142.3 -
1960 $47 - $142 -

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

GeoRank.org/economy/lesotho/sierra-leone | CC BY

Lesotho's GDP per capita is $972, ranking 181/197, compared to $807 in Sierra Leone, ranking 186/197. Adjusted for purchasing power (GDP per capita PPP), Lesotho ranks 180th at $3,001, while Sierra Leone ranks 171st at $3,522.

Economic indicators

Lesotho Sierra Leone
Gross domestic product
$2.27B
2024
$6.97B
2024
GDP rank
175/197
2024
160/197
2024
GDP growth
2.85%
2023-2024
4.29%
2023-2024
GDP per capita
$972
2024
$807
2024
GDP per capita rank
181/197
2024
186/197
2024
GDP per capita, PPP
$3,001
2024
$3,522
2024
GDP per capita PPP rank
180/197
2024
171/197
2024
Government debt
$1.29B
2024
$2.91B
2024
Debt-to-GDP ratio
56.8%
2024
41.7%
2024
Government debt per person
$552
2024
$337
2024
Government debt per person rank
164/185
2024
174/185
2024
Average annual personal income after taxes
$6,545
2026
$2,915
2026
Income share by richest 10%
32.9%
2017
29.4%
2018
Income share by poorest 10%
1.7%
2017
3.4%
2018
Government expenditure, % of GDP
53.5%
2024
15.6%
2024
Consumer prices inflation
6.11%
2023-2024
28.4%
2023-2024
Central bank interest rate
6.5%
2025
18.8%
2025
Unemployment rate
18.7%
2024
3.19%
2018
Population
2396633
9049533

Spending and national debt comparison by year

Lesotho
Spending

Debt
Sierra Leone
Spending

Debt
1x
Year % of GDP
Lesotho Sierra Leone
Government spending Government debt Government spending Government debt
2024 53.5% 56.8% 15.6% 41.7%
2023 49.4% 61.5% 15.4% 49.5%
2022 50.8% 64.4% 16.7% 54%
2021 53.8% 58% 16.8% 47.1%
2020 54.4% 54.7% 15.6% 46.4%
2019 53.6% 58.2% 13.3% 45.3%
2018 51.9% 48.2% 13.7% 44.2%
2017 50.4% 41% 15% 44.2%
2016 54.1% 41.5% 14.9% 38.9%
2015 51.7% 45.8% 13.1% 28.4%
2014 50.1% 41.5% 13.5% 26.8%
2013 58.4% 41.2% 11.4% 22.3%
2012 58.1% 39.8% 13.5% 24.1%
2011 60.2% 36.2% 13.2% 25.8%
2010 55.3% 33.8% 12.5% 28.9%
2009 66.4% 35.9% 11.3% 31.1%
2008 54.1% 47% 10.3% 46.1%
2007 48.1% 49.6% 8.1% 26.4%
2006 43.2% 43.7% 9.97% 61.9%
2005 37.6% 41% 10.9% 78.9%
2004 36.3% 49.4% 11.1% 93.2%
2003 39.8% 52.6% 11.7% 99.8%
2002 41.2% 79.6% 12.6% 99.8%
2001 41.4% 108.7% 12% 113.5%
2000 39.3% 88.5% 10.3% -
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

GeoRank.org/economy/lesotho/sierra-leone | CC BY

In 2024, Lesotho's government spending was $1.22B, accounting for 53.5% of its GDP, while Sierra Leone spent $1.09B, or 15.6% of GDP.

Debt-to-GDP ratio is 56.8% in Lesotho and 41.7% in Sierra Leone, ranking 92/185 and 128/185, respectively.

Government deficit by year

Deficit/surplus
Lesotho

Sierra Leone
1x
Year Deficit/surplus, % of GDP
Lesotho Sierra Leone
2024 9.04% -4.53%
2023 7.31% -4.99%
2022 -6.41% -5.93%
2021 -4.95% -4.35%
2020 1.18% -3.5%
2019 -5.72% -1.95%
2018 -4.41% -3.57%
2017 -2.02% -5.61%
2016 -9.43% -5.41%
2015 -1.38% -2.86%
2014 3.16% -2.77%
2013 -2.58% -1.74%
2012 4.56% -3.41%
2011 -9.85% -2.78%
2010 -1.49% -3.09%
2009 -4.16% -1.51%
2008 8.1% -2.22%
2007 10.8% 12.6%
2006 11.6% -0.93%
2005 4.46% -1.17%
2004 6.05% -1.46%
2003 0.89% -2.78%
2002 -2.44% -3.03%
2001 -2.76% -3.22%
2000 -0.95% -1.94%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

GeoRank.org/economy/lesotho/sierra-leone | 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 Sierra Leone's deficit of $316M, or 4.53% of GDP.

Over the past 25 years, Lesotho recorded a fiscal deficit in 14 of those years, while Sierra Leone ran a deficit in 24 years. On average, Lesotho posted an annual surplus equal to 0.34% of GDP, compared to deficit of 2.49% of GDP for Sierra Leone.

Inflation comparison by year

Inflation
Lesotho

Sierra Leone
1x
Year Consumer prices inflation
Lesotho Sierra Leone
2024 6.11% 28.4%
2023 6.34% 47.7%
2022 8.27% 27.2%
2021 6.05% 11.9%
2020 4.98% 13.4%
2019 5.19% 14.8%
2018 4.75% 16%
2017 4.45% 18.2%
2016 6.6% 10.9%
2015 3.22% 6.7%
2014 5.37% 4.6%
2013 4.87% 5.5%
2012 6.05% 6.6%
2011 5.04% 6.8%
2010 -2.41% 7.2%
2009 -16.9% 7.5%
2008 10.7% 8.2%
2007 8.01% 17%
2006 6.07% 10.5%
2005 3.44% 13.7%
2004 5.02% 12.9%
2003 6.63% 4%
2002 33.8% 0.1%
2001 -9.62% 2.6%
2000 6.13% -0.9%
1999 - 34.1%
1998 - 36%
1997 - 14.6%

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/sierra-leone | CC BY

Over the past 25 years, Lesotho has recorded an average annual inflation rate of 5.13%, compared with 12.1% in Sierra Leone. In 2024, inflation was 6.11% in Lesotho and 28.4% in Sierra Leone.

Top exports between countries

Lesotho
Export category Export value
Textiles & consumer goods $2K
Sierra Leone
Export category Export value

Balance of trade

Lesotho Sierra Leone
Current account balance
$89.2M
2024
-$606M
2023
Current account balance ranking
68/190
2024
109/190
2023
Current account balance, % of GDP
+3.93%
2024
-9.45%
2023
Goods imports
$1.67B
2024
$1.92B
2023
Goods exports
$965M
2024
$1.34B
2023
Service imports
$415M
2024
$348M
2023
Service exports
$15.4M
2024
$42.5M
2023
Imports of goods and services, % of GDP
98.6%
2023
23.3%
2024
Exports of goods and services, % of GDP
42.9%
2023
17.3%
2024

Economic freedom indices

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

Lesotho Sierra Leone
Economic freedom 54.9 49.6
Economic freedom ranking 130/197 165/197
Property rights 41.7 32.9
Government integrity 39.6 35.8
Judicial effectiveness 43.6 42
Tax burden 76.4 88.2
Government spending 21.3 92.4
Fiscal health 93.5 54.1
Business freedom 50.6 44.8
Labor freedom 57 38.2
Monetary freedom 74.8 53.6
Trade freedom 65.4 63.6
Investment freedom 55 30
Financial freedom 40 20

Economic freedom comparison by year

Lesotho
Sierra Leone
1x
Year Economic freedom index
Lesotho Sierra Leone
2026 54.9 49.6
2025 54.1 48
2024 51.9 44.6
2023 51.6 50.2
2022 48.1 52
2021 53.5 51.7
2020 54.5 48
2019 53.1 47.5
2018 53.9 51.8
2017 53.9 52.6
2016 50.6 52.3
2015 49.6 51.7
2014 49.5 50.5
2013 47.9 48.3
2012 46.6 49.1
2011 47.5 49.6
2010 48.1 47.9
2009 49.7 47.8
2008 52.1 48.3
2007 53.2 47
2006 54.7 45.2
2005 53.9 44.8
2004 50.3 43.6
2003 52 42.2
2002 48.9 -
2001 50.6 -
2000 48.4 44.2
1999 48.2 47.2
1998 48.4 47.7
1997 47.2 45
1996 47 52.3
1995 - 49.8

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

GeoRank.org/economy/lesotho/sierra-leone | CC BY

The Economic Freedom Index for Lesotho is 54.9, ranking 130/197, compared to 49.6 for Sierra Leone, ranking 165/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lesotho Sierra Leone
Services, % of GDP
48%
2024
42.6%
2024
Industry, % of GDP
30.9%
2024
25.6%
2024
Agriculture, forestry, and fishing, % of GDP
6.5%
2024
29.2%
2024
GNI, Atlas method
$2.75B
2024
$7.08B
2024
GNI per capita, PPP
$3,580
2024
$3,490
2024
Total reserves including gold
$1.01B
2024
$433M
2024
Total reserves ranking
142/177
2024
160/177
2024
Net foreign direct investment
$12.6M
2024
-$241M
2023
Net inflows of foreign direct investment
-$12.6M
2024
$122M
2024
Net outflows of foreign direct investment
$0
2024
$0
2024
Servicing debt to the IMF, % of GNI
4.06%
2024
2.22%
2024
Poverty at national poverty lines
49.7%
2017
56.8%
2018
Gross capital formation, % of GDP
27.2%
2023
20.5%
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/sierra-leone | 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. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. TradeMap (2021, retrieved 2026-02-08)

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.