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Economy of Lesotho vs Togo compared: GDP & Debt

Updated on by Georank team

Lesotho has a GDP of $2.27B compared to $10.7B for Togo, ranking 175/197 and 154/197 by economy size, respectively.

Lesotho has $1.29B in government debt (56.8% of GDP), compared to $7.68B (72.1% of GDP) in Togo.

Lesotho vs Togo GDP by year

Lesotho
Togo
1x
Year GDP, current $
Lesotho Togo
2024 $2,271,759,455 $10,651,180,147
2023 $2,117,962,445 $9,816,236,303
2022 $2,354,980,960 $8,646,453,099
2021 $2,412,130,057 $8,541,668,141
2020 $2,053,699,864 $7,486,031,562
2019 $2,390,702,296 $6,992,654,019
2018 $2,556,247,292 $7,029,215,766
2017 $2,306,741,672 $6,387,424,240
2016 $2,114,426,452 $6,071,167,584
2015 $2,359,686,725 $5,755,457,836
2014 $2,441,063,054 $6,393,314,708
2013 $2,367,112,932 $6,021,729,630
2012 $2,477,702,216 $5,413,541,649
2011 $2,579,409,620 $5,422,439,152
2010 $2,234,754,242 $4,746,386,893
2009 $1,740,894,965 $4,721,888,275
2008 $1,766,902,709 $4,578,847,113
2007 $1,682,131,785 $3,759,962,853
2006 $1,800,092,564 $3,320,907,722
2005 $1,682,343,527 $3,221,910,408
2004 $1,511,236,656 $3,191,561,509
2003 $1,157,825,435 $2,987,984,051
2002 $775,777,239 $2,410,199,032
2001 $825,706,961 $2,093,498,674
2000 $887,291,688 $2,106,848,752
1999 $912,773,681 $2,226,577,204
1998 $928,460,893 $2,241,650,112
1997 $998,004,259 $2,116,818,623
1996 $946,112,493 $2,069,506,014
1995 $1,001,894,000 $1,849,110,468
1994 $878,250,945 $1,387,662,121
1993 $835,582,062 $1,741,944,426
1992 $831,029,862 $2,390,796,916
1991 $704,325,367 $2,262,767,860
1990 $596,410,264 $2,299,665,506
1989 $495,409,233 $1,910,635,575
1988 $470,395,801 $1,947,208,354
1987 $402,768,324 $1,763,978,066
1986 $318,858,423 $1,498,219,579
1985 $268,629,926 $1,076,604,520
1984 $333,163,670 $1,014,170,069
1983 $386,699,309 $1,081,387,265
1982 $348,741,684 $1,160,337,039
1981 $434,188,034 $1,359,026,709
1980 $431,542,537 $1,604,836,916
1979 $290,134,593 $1,259,365,712
1978 $266,570,067 $1,164,025,637
1977 $193,315,048 $1,097,893,826
1976 $147,660,037 $874,681,612
1975 $149,558,896 $871,781,687
1974 $150,851,317 $791,450,308
1973 $121,188,716 $574,030,984
1972 $80,913,200 $474,043,922
1971 $76,480,285 $404,648,368
1970 $68,739,973 $358,665,754
1969 $65,967,974 $378,091,810
1968 $61,445,975 $341,691,567
1967 $59,261,976 $327,215,844
1966 $56,699,977 $305,227,595
1965 $54,879,978 $264,505,506
1964 $51,939,979 $234,572,186
1963 $47,039,981 $202,305,865
1962 $41,859,983 $186,745,758
1961 $35,699,986 $178,497,098
1960 $34,579,986 $171,057,069

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

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

GDP per capita in Lesotho vs Togo by year

Lesotho
GDP per capita

GDP per capita, PPP
Togo
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lesotho Togo
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $972 $3,001 $1,119 $3,365
2023 $916 $2,881 $1,055 $3,154
2022 $1,030 $2,761 $951 $2,935
2021 $1,067 $2,545 $962 $2,639
2020 $919 $2,559 $863 $2,384
2019 $1,082 $2,568 $826 $2,215
2018 $1,171 $2,632 $851 $2,067
2017 $1,069 $2,619 $793 $1,986
2016 $992 $2,942 $773 $1,933
2015 $1,121 $3,035 $751 $1,880
2014 $1,174 $2,771 $856 $1,803
2013 $1,151 $2,538 $827 $1,715
2012 $1,218 $2,291 $762 $1,645
2011 $1,281 $2,279 $784 $1,616
2010 $1,119 $2,153 $705 $1,537
2009 $879 $2,036 $721 $1,474
2008 $898 $2,064 $719 $1,429
2007 $861 $1,932 $608 $1,387
2006 $925 $1,813 $553 $1,407
2005 $861 $1,681 $551 $1,368
2004 $767 $1,561 $560 $1,427
2003 $583 $1,484 $538 $1,440
2002 $389 $1,385 $445 $1,357
2001 $413 $1,350 $397 $1,320
2000 $443 $1,273 $410 $1,315
1999 $456 $1,199 $445 $1,332
1998 $465 $1,179 $461 $1,318
1997 $502 $1,154 $448 $1,373
1996 $480 $1,103 $452 $1,218
1995 $513 $1,037 $419 $1,140
1994 $456 $995 $329 $1,082
1993 $439 $932 $414 $925
1992 $444 $893 $565 $1,057
1991 $382 $830 $550 $1,107
1990 $330 $764 $575 $1,110
1989 $279 - $492 -
1988 $270.4 - $517 -
1987 $236.5 - $482 -
1986 $191.4 - $422 -
1985 $165.4 - $313 -
1984 $211 - $304 -
1983 $252 - $336 -
1982 $233.9 - $372 -
1981 $299.8 - $451 -
1980 $307 - $549 -
1979 $212.4 - $443 -
1978 $200.8 - $421 -
1977 $149.9 - $406 -
1976 $117.8 - $332 -
1975 $123.2 - $339 -
1974 $128.7 - $315 -
1973 $107 - $234.4 -
1972 $74 - $198.8 -
1971 $72.4 - $174.6 -
1970 $67.4 - $159.8 -
1969 $67.1 - $174.7 -
1968 $64.8 - $164.3 -
1967 $64.8 - $163.9 -
1966 $64.3 - $159.1 -
1965 $64.3 - $142.7 -
1964 $62.6 - $130.1 -
1963 $58.4 - $114.6 -
1962 $53.5 - $107.8 -
1961 $47 - $104.8 -
1960 $47 - $102.2 -

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

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

Lesotho's GDP per capita is $972, ranking 181/197, compared to $1,119 in Togo, ranking 172/197. Adjusted for purchasing power (GDP per capita PPP), Lesotho ranks 180th at $3,001, while Togo ranks 173rd at $3,365.

Economic indicators

Lesotho Togo
Gross domestic product
$2.27B
2024
$10.7B
2024
GDP rank
175/197
2024
154/197
2024
GDP growth
2.85%
2023-2024
6.53%
2023-2024
GDP per capita
$972
2024
$1,119
2024
GDP per capita rank
181/197
2024
172/197
2024
GDP per capita, PPP
$3,001
2024
$3,365
2024
GDP per capita PPP rank
180/197
2024
173/197
2024
Government debt
$1.29B
2024
$7.68B
2024
Debt-to-GDP ratio
56.8%
2024
72.1%
2024
Government debt per person
$552
2024
$807
2024
Government debt per person rank
164/185
2024
149/185
2024
Average annual personal income after taxes
$6,545
2026
$1,661
2026
Income share by richest 10%
32.9%
2017
29.6%
2021
Income share by poorest 10%
1.7%
2017
2.8%
2021
Government expenditure, % of GDP
53.5%
2024
26.4%
2024
Consumer prices inflation
6.11%
2023-2024
2.86%
2023-2024
Central bank interest rate
6.5%
2025
n/a
Unemployment rate
18.7%
2024
1.97%
2022
Population
2396633
9990340

Spending and national debt comparison by year

Lesotho
Spending

Debt
Togo
Spending

Debt
1x
Year % of GDP
Lesotho Togo
Government spending Government debt Government spending Government debt
2024 53.5% 56.8% 26.4% 72.1%
2023 49.4% 61.5% 26.6% 68.6%
2022 50.8% 64.4% 26% 67%
2021 53.8% 58% 21.8% 64.9%
2020 54.4% 54.7% 23.7% 62.2%
2019 53.6% 58.2% 16.6% 54.9%
2018 51.9% 48.2% 18.8% 58%
2017 50.4% 41% 16.3% 57.1%
2016 54.1% 41.5% 22.9% 59.9%
2015 51.7% 45.8% 22.9% 52.4%
2014 50.1% 41.5% 21.9% 44.9%
2013 58.4% 41.2% 20.5% 41.1%
2012 58.1% 39.8% 19.1% 34.3%
2011 60.2% 36.2% 18.2% 37%
2010 55.3% 33.8% 15.1% 33.5%
2009 66.4% 35.9% 14.3% 57.6%
2008 54.1% 47% 12.4% 67.3%
2007 48.1% 49.6% 13.7% 70.5%
2006 43.2% 43.7% 14.7% 67.7%
2005 37.6% 41% 13.3% 63.1%
2004 36.3% 49.4% 10.6% 48.7%
2003 39.8% 52.6% 8.88% 50%
2002 41.2% 79.6% 8.42% 54.8%
2001 41.4% 108.7% 10.9% 68.5%
2000 39.3% 88.5% 11.9% 66.5%
1999 50.8% 83% 11.9% 59.9%
1998 51.4% 79.4% 12.8% 62.8%
1997 44.6% 65.7% 10.6% 54.4%
1996 41.5% 71.6% 12.4% 60.4%
1995 42.1% 62.8% 12.7% 64.8%
1994 40.2% 67% 13.2% 79%
1993 36% 71.2% 14.8% 58.3%
1992 35.3% 64.4% 12.6% 45%
1991 31.3% 11.9% 14.6% 46.9%
1990 32.9% 18% 16.8% 44.7%
1989 35.8% 112.5% 16.9% 46.3%
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 (1982–2004, retrieved 2026-02-20).

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

In 2024, Lesotho's government spending was $1.22B, accounting for 53.5% of its GDP, while Togo spent $2.81B, or 26.4% of GDP.

Debt-to-GDP ratio is 56.8% in Lesotho and 72.1% in Togo, ranking 92/185 and 54/185, respectively.

Government deficit by year

Deficit/surplus
Lesotho

Togo
1x
Year Deficit/surplus, % of GDP
Lesotho Togo
2024 9.04% -7.43%
2023 7.31% -6.73%
2022 -6.41% -8.33%
2021 -4.95% -4.65%
2020 1.18% -7.05%
2019 -5.72% 1.67%
2018 -4.41% -0.59%
2017 -2.02% -0.21%
2016 -9.43% -7.02%
2015 -1.38% -7.04%
2014 3.16% -7.11%
2013 -2.58% -5.08%
2012 4.56% -4.63%
2011 -9.85% -4.48%
2010 -1.49% -1.66%
2009 -4.16% -2.63%
2008 8.1% -0.59%
2007 10.8% -1.83%
2006 11.6% -1.94%
2005 4.46% -1.67%
2004 6.05% 0.61%
2003 0.89% 1.43%
2002 -2.44% -0.28%
2001 -2.76% -0.72%
2000 -0.95% -3.45%
1999 -15.3% -1.76%
1998 -11.8% -3.25%
1997 0.27% -0.98%
1996 2.11% -3.26%
1995 5.13% -2.97%
1994 5.69% -5.37%
1993 7.55% -8.46%
1992 4.65% -2.27%
1991 9.74% -3.52%
1990 8.78% -1.65%
1989 3.88% -2.18%
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/togo | 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 Togo's deficit of $791M, or 7.43% of GDP.

Over the past 36 years, Lesotho recorded a fiscal deficit in 16 of those years, while Togo ran a deficit in 33 years. On average, Lesotho posted an annual surplus equal to 0.81% of GDP, compared to deficit of 3.25% of GDP for Togo.

Inflation comparison by year

Inflation
Lesotho

Togo
1x
Year Consumer prices inflation
Lesotho Togo
2024 6.11% 2.86%
2023 6.34% 5.49%
2022 8.27% 7.97%
2021 6.05% 4.19%
2020 4.98% 1.7%
2019 5.19% 0.67%
2018 4.75% 0.93%
2017 4.45% -0.98%
2016 6.6% 1.29%
2015 3.22% 2.59%
2014 5.37% 0.19%
2013 4.87% 1.83%
2012 6.05% 2.58%
2011 5.04% 3.56%
2010 -2.41% 1.45%
2009 -16.9% 3.71%
2008 10.7% 8.69%
2007 8.01% 0.95%
2006 6.07% 2.23%
2005 3.44% 6.78%
2004 5.02% 0.39%
2003 6.63% -0.93%
2002 33.8% 3.06%
2001 -9.62% 3.92%
2000 6.13% 1.86%
1999 - -0.05%
1998 - 0.98%
1997 - 8.25%

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

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

Over the past 25 years, Lesotho has recorded an average annual inflation rate of 5.13%, compared with 2.68% in Togo. In 2024, inflation was 6.11% in Lesotho and 2.86% in Togo.

Balance of trade

Lesotho Togo
Current account balance
$89.2M
2024
-$20.7M
2020
Current account balance ranking
68/190
2024
79/190
2020
Current account balance, % of GDP
+3.93%
2024
-0.28%
2020
Goods imports
$1.67B
2024
$1.95B
2020
Goods exports
$965M
2024
$1.21B
2020
Service imports
$415M
2024
$438M
2020
Service exports
$15.4M
2024
$514M
2020
Imports of goods and services, % of GDP
98.6%
2023
38.1%
2024
Exports of goods and services, % of GDP
42.9%
2023
24.4%
2024

Economic freedom indices

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

Lesotho Togo
Economic freedom 54.9 51.6
Economic freedom ranking 130/197 153/197
Property rights 41.7 43.6
Government integrity 39.6 33.3
Judicial effectiveness 43.6 34
Tax burden 76.4 68.9
Government spending 21.3 79.2
Fiscal health 93.5 9.6
Business freedom 50.6 60.1
Labor freedom 57 51.9
Monetary freedom 74.8 72.5
Trade freedom 65.4 65.8
Investment freedom 55 60
Financial freedom 40 40

Economic freedom comparison by year

Lesotho
Togo
1x
Year Economic freedom index
Lesotho Togo
2026 54.9 51.6
2025 54.1 52.3
2024 51.9 50.9
2023 51.6 55.3
2022 48.1 57.2
2021 53.5 57.5
2020 54.5 54.1
2019 53.1 50.3
2018 53.9 47.8
2017 53.9 53.2
2016 50.6 53.6
2015 49.6 53
2014 49.5 49.9
2013 47.9 48.8
2012 46.6 48.3
2011 47.5 49.1
2010 48.1 47.1
2009 49.7 48.7
2008 52.1 48.9
2007 53.2 49.7
2006 54.7 47.3
2005 53.9 48.2
2004 50.3 47
2003 52 46.8
2002 48.9 45.2
2001 50.6 45.3
2000 48.4 46.4
1999 48.2 48.2
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/togo | CC BY

The Economic Freedom Index for Lesotho is 54.9, ranking 130/197, compared to 51.6 for Togo, ranking 153/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lesotho Togo
Services, % of GDP
48%
2024
49.2%
2024
Industry, % of GDP
30.9%
2024
20.4%
2024
Agriculture, forestry, and fishing, % of GDP
6.5%
2024
21.3%
2024
GNI, Atlas method
$2.75B
2024
$10.3B
2024
GNI per capita, PPP
$3,580
2024
$3,380
2024
Total reserves including gold
$1.01B
2024
n/a
Total reserves ranking
142/177
2024
n/a
Net foreign direct investment
$12.6M
2024
-$53.1M
2020
Net inflows of foreign direct investment
-$12.6M
2024
$83.8M
2024
Net outflows of foreign direct investment
$0
2024
-$73.4M
2024
Servicing debt to the IMF, % of GNI
4.06%
2024
3.21%
2024
Poverty at national poverty lines
49.7%
2017
43.8%
2021
Gross capital formation, % of GDP
27.2%
2023
20.8%
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/togo | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1982–2004, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.