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Economy of Lesotho vs Tanzania compared: GDP & Debt

Updated on by Georank team

Lesotho has a GDP of $2.27B compared to $78.8B for Tanzania, ranking 175/197 and 82/197 by economy size, respectively.

Lesotho has $1.29B in government debt (56.8% of GDP), compared to $39.3B (49.9% of GDP) in Tanzania.

Lesotho vs Tanzania GDP by year

Lesotho
Tanzania
1x
Year GDP, current $
Lesotho Tanzania
2024 $2,271,759,455 $78,844,405,385
2023 $2,117,962,445 $79,030,935,627
2022 $2,354,980,960 $75,749,121,843
2021 $2,412,130,057 $70,655,628,148
2020 $2,053,699,864 $66,068,737,786
2019 $2,390,702,296 $61,026,731,926
2018 $2,556,247,292 $57,003,712,892
2017 $2,306,741,672 $53,274,884,533
2016 $2,114,426,452 $49,774,409,374
2015 $2,359,686,725 $47,413,919,817
2014 $2,441,063,054 $49,986,726,461
2013 $2,367,112,932 $45,648,857,242
2012 $2,477,702,216 $39,650,394,363
2011 $2,579,409,620 $34,657,140,096
2010 $2,234,754,242 $32,012,892,919
2009 $1,740,894,965 $29,400,573,554
2008 $1,766,902,709 $27,947,821,398
2007 $1,682,131,785 $21,860,434,823
2006 $1,800,092,564 $18,619,859,795
2005 $1,682,343,527 $18,395,383,647
2004 $1,511,236,656 $16,673,062,473
2003 $1,157,825,435 $15,211,487,709
2002 $775,777,239 $14,129,651,896
2001 $825,706,961 $13,563,990,022
2000 $887,291,688 $13,371,767,082
1999 $912,773,681 $12,704,334,196
1998 $928,460,893 $12,172,790,056
1997 $998,004,259 $11,158,197,942
1996 $946,112,493 $9,433,528,150
1995 $1,001,894,000 $7,631,431,840
1994 $878,250,945 $6,550,480,484
1993 $835,582,062 $6,182,872,708
1992 $831,029,862 $6,681,997,469
1991 $704,325,367 $7,197,768,159
1990 $596,410,264 $6,184,384,225
1989 $495,409,233 $6,418,799,007
1988 $470,395,801 $7,406,614,407
1987 $402,768,324 $7,824,193,222
1986 $318,858,423 $10,840,864,521
1985 $268,629,926 $15,328,295,175
1984 $333,163,670 $12,906,635,133
1983 $386,699,309 $14,049,883,809
1982 $348,741,684 $13,927,383,240
1981 $434,188,034 $13,161,540,378
1980 $431,542,537 $11,409,228,087
1979 $290,134,593 $9,804,637,491
1978 $266,570,067 $9,261,675,710
1977 $193,315,048 $7,732,598,995
1976 $147,660,037 $6,472,511,988
1975 $149,558,896 $5,729,917,840
1974 $150,851,317 $4,977,337,978
1973 $121,188,716 $4,144,104,535
1972 $80,913,200 $3,472,787,266
1971 $76,480,285 $3,050,673,517
1970 $68,739,973 $2,851,419,386
1969 $65,967,974 $5,142,066,811
1968 $61,445,975 $4,895,251,824
1967 $59,261,976 $4,565,132,048
1966 $56,699,977 $4,377,998,825
1965 $54,879,978 $3,817,226,546
1964 $51,939,979 $3,748,840,925
1963 $47,039,981 $3,456,579,293
1962 $41,859,983 $3,101,589,993
1961 $35,699,986 $2,826,179,031
1960 $34,579,986 $2,651,729,807

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

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

GDP per capita in Lesotho vs Tanzania by year

Lesotho
GDP per capita

GDP per capita, PPP
Tanzania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lesotho Tanzania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $972 $3,001 $1,150 $4,221
2023 $916 $2,881 $1,186 $4,019
2022 $1,030 $2,761 $1,171 $3,800
2021 $1,067 $2,545 $1,125 $3,493
2020 $919 $2,559 $1,084 $3,291
2019 $1,082 $2,568 $1,031 $2,982
2018 $1,171 $2,632 $992 $2,728
2017 $1,069 $2,619 $957 $2,472
2016 $992 $2,942 $925 $2,435
2015 $1,121 $3,035 $911 $2,317
2014 $1,174 $2,771 $993 $2,221
2013 $1,151 $2,538 $935 $2,176
2012 $1,218 $2,291 $837 $2,083
2011 $1,281 $2,279 $753 $2,211
2010 $1,119 $2,153 $715 $2,069
2009 $879 $2,036 $674 $1,972
2008 $898 $2,064 $657 $1,908
2007 $861 $1,932 $528 $1,820
2006 $925 $1,813 $462 $1,707
2005 $861 $1,681 $469 $1,598
2004 $767 $1,561 $438 $1,482
2003 $583 $1,484 $410 $1,379
2002 $389 $1,385 $391 $1,302
2001 $413 $1,350 $385 $1,229
2000 $443 $1,273 $390 $1,164
1999 $456 $1,199 $382 $1,120
1998 $465 $1,179 $375 $1,082
1997 $502 $1,154 $353 $1,059
1996 $480 $1,103 $305 $1,026
1995 $513 $1,037 $251.2 $981
1994 $456 $995 $222.5 $958
1993 $439 $932 $218.2 $959
1992 $444 $893 $243.4 $955
1991 $382 $830 $268.8 $952
1990 $330 $764 $236.9 $925
1989 $279 - $252.3 -
1988 $270.4 - $299 -
1987 $236.5 - $326 -
1986 $191.4 - $466 -
1985 $165.4 - $681 -
1984 $211 - $593 -
1983 $252 - $667 -
1982 $233.9 - $683 -
1981 $299.8 - $665 -
1980 $307 - $595 -
1979 $212.4 - $527 -
1978 $200.8 - $515 -
1977 $149.9 - $446 -
1976 $117.8 - $387 -
1975 $123.2 - $355 -
1974 $128.7 - $320 -
1973 $107 - $276.1 -
1972 $74 - $239.8 -
1971 $72.4 - $218.4 -
1970 $67.4 - $211.3 -
1969 $67.1 - $394 -
1968 $64.8 - $388 -
1967 $64.8 - $374 -
1966 $64.3 - $370 -
1965 $64.3 - $333 -
1964 $62.6 - $337 -
1963 $58.4 - $320 -
1962 $53.5 - $295.7 -
1961 $47 - $277.4 -
1960 $47 - $267.8 -

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

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

Lesotho's GDP per capita is $972, ranking 181/197, compared to $1,150 in Tanzania, ranking 170/197. Adjusted for purchasing power (GDP per capita PPP), Lesotho ranks 180th at $3,001, while Tanzania ranks 165th at $4,221.

Economic indicators

Lesotho Tanzania
Gross domestic product
$2.27B
2024
$78.8B
2024
GDP rank
175/197
2024
82/197
2024
GDP growth
2.85%
2023-2024
5.53%
2023-2024
GDP per capita
$972
2024
$1,150
2024
GDP per capita rank
181/197
2024
170/197
2024
GDP per capita, PPP
$3,001
2024
$4,221
2024
GDP per capita PPP rank
180/197
2024
165/197
2024
Government debt
$1.29B
2024
$39.3B
2024
Debt-to-GDP ratio
56.8%
2024
49.9%
2024
Government debt per person
$552
2024
$573
2024
Government debt per person rank
164/185
2024
160/185
2024
Average annual personal income after taxes
$6,545
2026
$2,309
2026
Market capitalization of domestic companies n/a
$7.32B
2024
Number of billionaires n/a
1
2025
Income share by richest 10%
32.9%
2017
33.1%
2018
Income share by poorest 10%
1.7%
2017
2.9%
2018
Government expenditure, % of GDP
53.5%
2024
19.1%
2024
Consumer prices inflation
6.11%
2023-2024
3.06%
2023-2024
Central bank interest rate
6.5%
2025
6%
2024
Unemployment rate
18.7%
2024
2.43%
2024
Population
2396633
73145892

Spending and national debt comparison by year

Lesotho
Spending

Debt
Tanzania
Spending

Debt
1x
Year % of GDP
Lesotho Tanzania
Government spending Government debt Government spending Government debt
2024 53.5% 56.8% 19.1% 49.9%
2023 49.4% 61.5% 19% 47.8%
2022 50.8% 64.4% 19.1% 44.9%
2021 53.8% 58% 18.4% 43.4%
2020 54.4% 54.7% 17.4% 41.3%
2019 53.6% 58.2% 17.3% 40.4%
2018 51.9% 48.2% 17.3% 42%
2017 50.4% 41% 16.4% 40.1%
2016 54.1% 41.5% 16.9% 39.8%
2015 51.7% 45.8% 17.2% 39.5%
2014 50.1% 41.5% 17.3% 36.4%
2013 58.4% 41.2% 18.8% 32.7%
2012 58.1% 39.8% 19.6% 30%
2011 60.2% 36.2% 19% 28.4%
2010 55.3% 33.8% 19.8% 27.6%
2009 66.4% 35.9% 19.6% 23.9%
2008 54.1% 47% 18.1% 21.6%
2007 48.1% 49.6% 17.8% 23.8%
2006 43.2% 43.7% 17.6% 17.4%
2005 37.6% 41% 18.3% 25.4%
2004 36.3% 49.4% 17% 44.5%
2003 39.8% 52.6% 15.4% 44.4%
2002 41.2% 79.6% 13.6% 47.4%
2001 41.4% 108.7% 12.4% 50.8%
2000 39.3% 88.5% 12.3% 55.4%
1999 50.8% 83% 12.8% 62.9%
1998 51.4% 79.4% 11.4% 62.2%
1997 44.6% 65.7% 12.8% 73.4%
1996 41.5% 71.6% 13.4% 89.6%
1995 42.1% 62.8% 15.6% 111.1%
1994 40.2% 67% 16.8% 126%
1993 36% 71.2% 16.4% 129.2%
1992 35.3% 64.4% 17.6% 117.6%
1991 31.3% 11.9% 14.2% 106.5%
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 (1982–2000, retrieved 2026-02-20).

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

In 2024, Lesotho's government spending was $1.22B, accounting for 53.5% of its GDP, while Tanzania spent $15.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 56.8% in Lesotho and 49.9% in Tanzania, ranking 92/185 and 109/185, respectively.

Government deficit by year

Deficit/surplus
Lesotho

Tanzania
1x
Year Deficit/surplus, % of GDP
Lesotho Tanzania
2024 9.04% -3.03%
2023 7.31% -3.67%
2022 -6.41% -3.92%
2021 -4.95% -3.55%
2020 1.18% -2.56%
2019 -5.72% -2.06%
2018 -4.41% -2.01%
2017 -2.02% -1.14%
2016 -9.43% -2.08%
2015 -1.38% -3.17%
2014 3.16% -2.91%
2013 -2.58% -3.76%
2012 4.56% -4%
2011 -9.85% -3.51%
2010 -1.49% -4.74%
2009 -4.16% -4.46%
2008 8.1% -1.92%
2007 10.8% -1.44%
2006 11.6% -3.38%
2005 4.46% -3.28%
2004 6.05% -2.43%
2003 0.89% -1.77%
2002 -2.44% -0.73%
2001 -2.76% -0.41%
2000 -0.95% -0.73%
1999 -15.3% -1.14%
1998 -11.8% 0.13%
1997 0.27% -0.03%
1996 2.11% 1.57%
1995 5.13% -2.12%
1994 5.69% -3.74%
1993 7.55% -2.02%
1992 4.65% -4.96%
1991 9.74% 0.6%
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/tanzania | 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 Tanzania's deficit of $2.39B, or 3.03% of GDP.

Over the past 34 years, Lesotho recorded a fiscal deficit in 16 of those years, while Tanzania ran a deficit in 31 years. On average, Lesotho posted an annual surplus equal to 0.49% of GDP, compared to deficit of 2.3% of GDP for Tanzania.

Inflation comparison by year

Inflation
Lesotho

Tanzania
1x
Year Consumer prices inflation
Lesotho Tanzania
2024 6.11% 3.06%
2023 6.34% 3.8%
2022 8.27% 4.35%
2021 6.05% 3.69%
2020 4.98% 3.29%
2019 5.19% 3.46%
2018 4.75% 3.49%
2017 4.45% 5.32%
2016 6.6% 5.17%
2015 3.22% 5.59%
2014 5.37% 6.13%
2013 4.87% 7.87%
2012 6.05% 16%
2011 5.04% 12.7%
2010 -2.41% 6.2%
2009 -16.9% 12.1%
2008 10.7% 10.3%
2007 8.01% 7.03%
2006 6.07% 7.25%
2005 3.44% 5.03%
2004 5.02% 4.74%
2003 6.63% 5.3%
2002 33.8% 5.32%
2001 -9.62% 5.15%
2000 6.13% 5.92%
1999 - 7.89%
1998 - 12.8%
1997 - 16.1%

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

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

Over the past 25 years, Lesotho has recorded an average annual inflation rate of 5.13%, compared with 6.33% in Tanzania. In 2024, inflation was 6.11% in Lesotho and 3.06% in Tanzania.

Top exports between countries

Lesotho
Export category Export value
Textiles & consumer goods $401K
Machinery & equipment $35K
Miscellaneous $12K
Chemicals & pharma $1K
Tanzania
Export category Export value
Machinery & equipment $163K
Chemicals & pharma $45K
Textiles & consumer goods $1K

Balance of trade

Lesotho Tanzania
Current account balance
$89.2M
2024
-$2.38B
2024
Current account balance ranking
68/190
2024
147/190
2024
Current account balance, % of GDP
+3.93%
2024
-3.02%
2024
Goods imports
$1.67B
2024
$14.2B
2024
Goods exports
$965M
2024
$9.12B
2024
Service imports
$415M
2024
$2.8B
2024
Service exports
$15.4M
2024
$6.85B
2024
Imports of goods and services, % of GDP
98.6%
2023
21.7%
2024
Exports of goods and services, % of GDP
42.9%
2023
19.8%
2024

Economic freedom indices

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

Lesotho Tanzania
Economic freedom 54.9 59
Economic freedom ranking 130/197 106/197
Property rights 41.7 45.2
Government integrity 39.6 40.9
Judicial effectiveness 43.6 29.6
Tax burden 76.4 80.4
Government spending 21.3 89.1
Fiscal health 93.5 75
Business freedom 50.6 48.1
Labor freedom 57 62.3
Monetary freedom 74.8 73.4
Trade freedom 65.4 58.8
Investment freedom 55 55
Financial freedom 40 50

Economic freedom comparison by year

Lesotho
Tanzania
1x
Year Economic freedom index
Lesotho Tanzania
2026 54.9 59
2025 54.1 59.3
2024 51.9 59.1
2023 51.6 60
2022 48.1 59.5
2021 53.5 61.3
2020 54.5 61.7
2019 53.1 60.2
2018 53.9 59.9
2017 53.9 58.6
2016 50.6 58.5
2015 49.6 57.5
2014 49.5 57.8
2013 47.9 57.9
2012 46.6 57
2011 47.5 57
2010 48.1 58.3
2009 49.7 58.3
2008 52.1 56.5
2007 53.2 56.8
2006 54.7 58.5
2005 53.9 56.3
2004 50.3 60.1
2003 52 56.9
2002 48.9 58.3
2001 50.6 54.9
2000 48.4 56
1999 48.2 60
1998 48.4 59.6
1997 47.2 59.3
1996 47 57.5
1995 - 57.3

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

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

The Economic Freedom Index for Lesotho is 54.9, ranking 130/197, compared to 59 for Tanzania, ranking 106/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lesotho Tanzania
Services, % of GDP
48%
2024
29.6%
2024
Industry, % of GDP
30.9%
2024
28.6%
2024
Agriculture, forestry, and fishing, % of GDP
6.5%
2024
23.3%
2024
GNI, Atlas method
$2.75B
2024
$80.2B
2024
GNI per capita, PPP
$3,580
2024
$4,130
2024
Total reserves including gold
$1.01B
2024
$5.05B
2018
Total reserves ranking
142/177
2024
101/177
2018
Net foreign direct investment
$12.6M
2024
-$1.72B
2024
Net inflows of foreign direct investment
-$12.6M
2024
$1.72B
2024
Net outflows of foreign direct investment
$0
2024
$0
2024
Servicing debt to the IMF, % of GNI
4.06%
2024
2.57%
2024
Poverty at national poverty lines
49.7%
2017
26.4%
2018
Gross capital formation, % of GDP
27.2%
2023
39.8%
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/tanzania | 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 (1982–2000, 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.