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Economy of Lesotho vs Vanuatu compared: GDP & Debt

Updated on by Georank

Lesotho has a GDP of $2.57B compared to $1.35B for Vanuatu, ranking 175/197 and 185/197 by economy size, respectively.

Lesotho has $1.26B in government debt (49.1% of GDP), compared to $554M (40.9% of GDP) in Vanuatu.

Lesotho vs Vanuatu GDP by year

Lesotho
Vanuatu
1x
Year GDP, current $
Lesotho Vanuatu
2025 $2,573,572,920 $1,353,658,841
2024 $2,391,282,548 $1,297,956,615
2023 $2,129,871,530 $1,188,137,265
2022 $2,354,980,960 $1,151,863,790
2021 $2,412,130,057 $1,093,826,089
2020 $2,053,699,864 $1,017,403,363
2019 $2,390,702,296 $1,061,547,513
2018 $2,556,247,292 $1,034,402,941
2017 $2,306,741,672 $998,536,155
2016 $2,114,426,452 $908,725,513
2015 $2,359,686,725 $855,360,240
2014 $2,441,063,054 $879,185,478
2013 $2,367,112,932 $863,347,172
2012 $2,477,702,216 $747,839,698
2011 $2,579,409,620 $770,153,588
2010 $2,234,754,242 $670,712,980
2009 $1,740,894,965 $592,622,319
2008 $1,766,902,709 $590,748,429
2007 $1,682,131,785 $516,392,923
2006 $1,800,092,564 $439,358,587
2005 $1,682,343,527 $394,962,433
2004 $1,511,236,656 $364,996,869
2003 $1,157,825,435 $314,471,413
2002 $775,777,239 $262,596,536
2001 $825,706,961 $257,926,882
2000 $887,291,688 $272,014,628
1999 $912,773,681 $268,006,973
1998 $928,460,893 $262,293,411
1997 $998,004,259 $272,771,209
1996 $946,112,493 $261,370,044
1995 $1,001,894,000 $249,333,250
1994 $878,250,945 $233,701,301
1993 $835,582,062 $200,491,853
1992 $831,029,862 $209,088,825
1991 $704,325,367 $201,334,169
1990 $596,410,264 $168,879,207
1989 $495,409,233 $154,013,202
1988 $470,395,801 $158,351,368
1987 $402,768,324 $139,464,174
1986 $318,858,423 $126,498,935
1985 $268,629,926 $131,856,421
1984 $333,163,670 $144,482,515
1983 $386,699,309 $117,389,554
1982 $348,741,684 $114,501,913
1981 $434,188,034 $113,781,796
1980 $431,542,537 $121,185,498
1979 $290,134,593 $119,258,835
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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Lesotho vs Vanuatu by year

Lesotho
GDP per capita

GDP per capita, PPP
Vanuatu
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lesotho Vanuatu
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $1,089 - $4,039 -
2024 $1,023 $3,001 $3,960 $3,606
2023 $921 $2,881 $3,708 $3,568
2022 $1,030 $2,761 $3,680 $3,453
2021 $1,067 $2,545 $3,576 $3,136
2020 $919 $2,559 $3,404 $3,118
2019 $1,082 $2,568 $3,636 $3,315
2018 $1,171 $2,632 $3,626 $3,233
2017 $1,069 $2,619 $3,585 $3,146
2016 $992 $2,942 $3,340 $3,030
2015 $1,121 $3,035 $3,214 $2,966
2014 $1,174 $2,771 $3,378 $2,890
2013 $1,151 $2,538 $3,393 $2,832
2012 $1,218 $2,291 $3,005 $2,834
2011 $1,281 $2,279 $3,163 $2,816
2010 $1,119 $2,153 $2,815 $2,733
2009 $879 $2,036 $2,546 $2,730
2008 $898 $2,064 $2,604 $2,701
2007 $861 $1,932 $2,334 $2,573
2006 $925 $1,813 $2,035 $2,496
2005 $861 $1,681 $1,874 $2,287
2004 $767 $1,561 $1,774 $2,157
2003 $583 $1,484 $1,567 $2,070
2002 $389 $1,385 $1,341 $1,995
2001 $413 $1,350 $1,350 $2,125
2000 $443 $1,273 $1,460 $2,206
1999 $456 $1,199 $1,472 $2,084
1998 $465 $1,179 $1,471 $2,091
1997 $502 $1,154 $1,562 $2,087
1996 $480 $1,103 $1,529 $1,998
1995 $513 $1,037 $1,492 $1,961
1994 $456 $995 $1,431 $1,946
1993 $439 $932 $1,257 $1,789
1992 $444 $893 $1,344 $1,777
1991 $382 $830 $1,326 $1,737
1990 $330 $764 $1,141 $1,670
1989 $279 - $1,067 -
1988 $270.4 - $1,125 -
1987 $236.5 - $1,017 -
1986 $191.4 - $946 -
1985 $165.4 - $1,012 -
1984 $211 - $1,137 -
1983 $252 - $947 -
1982 $233.9 - $946 -
1981 $299.8 - $962 -
1980 $307 - $1,048 -
1979 $212.4 - $1,055 -
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 (1960–2025, retrieved 2026-07-08).

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

Lesotho's GDP per capita is $1,089, ranking 179/197, compared to $4,039 in Vanuatu, ranking 133/197. Adjusted for purchasing power (GDP per capita PPP), Lesotho ranks 180th at $3,001, while Vanuatu ranks 170th at $3,606.

Economic indicators

Lesotho Vanuatu
Gross domestic product
$2.57B
2025
$1.35B
2025
GDP rank
175/197
2025
185/197
2025
GDP growth
1.98%
2024-2025
3.05%
2024-2025
GDP per capita
$1,089
2025
$4,039
2025
GDP per capita rank
179/197
2025
133/197
2025
GDP per capita, PPP
$3,001
2024
$3,606
2024
GDP per capita PPP rank
180/197
2024
170/197
2024
Government debt
$1.26B
2025
$554M
2025
Debt-to-GDP ratio
49.1%
2025
40.9%
2025
Government debt per person
$535
2025
$1,654
2025
Government debt per person rank
165/185
2025
125/185
2025
Average annual personal income after taxes
$1,455
2026
$2,801
2026
Income share by richest 10%
32.9%
2017
24.7%
2019
Income share by poorest 10%
1.7%
2017
3%
2019
Government expenditure, % of GDP
54.2%
2025
35.5%
2025
Consumer prices inflation
4.27%
2024-2025
0.66%
2024-2025
Central bank interest rate
6.5%
2025
n/a
Unemployment rate
18.7%
2024
1.41%
2025
Population
2402837
346488

Spending and national debt comparison by year

Lesotho
Spending

Debt
Vanuatu
Spending

Debt
1x
Year % of GDP
Lesotho Vanuatu
Government spending Government debt Government spending Government debt
2025 54.2% 49.1% 35.5% 40.9%
2024 52.5% 52.8% 33.1% 39.1%
2023 49% 61.1% 38.9% 39.2%
2022 50.8% 64.4% 38.5% 39.2%
2021 53.6% 58% 38.6% 42.2%
2020 54.2% 54.7% 38.8% 42.9%
2019 52.9% 58.2% 35.1% 39.8%
2018 51.9% 48.2% 29.4% 40%
2017 50.4% 41% 32.7% 46.4%
2016 54.1% 41.5% 31.2% 37.6%
2015 51.7% 45.8% 38.1% 32.2%
2014 50.1% 41.5% 20.5% 17.8%
2013 58.4% 41.2% 20.1% 16.4%
2012 58.1% 39.8% 22.1% 17.4%
2011 60.2% 36.2% 22.7% 19.3%
2010 55.3% 33.8% 25.6% 18.3%
2009 66.4% 35.9% 24.9% 19.1%
2008 54.1% 47% 25.1% 19.2%
2007 48.1% 49.6% 20.3% 17.6%
2006 43.2% 43.7% 18.2% 20%
2005 37.6% 41% 16.5% 23.8%
2004 36.3% 49.4% 16.7% 27.5%
2003 39.8% 52.6% 17% 34.6%
2002 41.2% 79.6% 20.2% 35.1%
2001 41.4% 108.7% 20.2% 33.5%
2000 39.3% 88.5% 23% 32.6%
1999 50.8% 83% 21.6% 27.7%
1998 51.4% 79.4% 25.2% 25.4%
1997 44.6% 65.7% 20.1% 20.7%
1996 41.5% 71.6% 22.1% 20.8%
1995 42.1% 62.8% 25.3% 21.8%
1994 40.2% 67% 22% 19.5%
1993 36% 71.2% 23.7% 18.3%
1992 35.3% 64.4% 28.8% 19%
1991 31.3% 11.9% 30% 14.4%
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-07-08).

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

In 2025, Lesotho's government spending was $1.4B, accounting for 54.2% of its GDP, while Vanuatu spent $480M, or 35.5% of GDP.

Debt-to-GDP ratio is 49.1% in Lesotho and 40.9% in Vanuatu, ranking 106/185 and 131/185, respectively.

Government deficit by year

Deficit/surplus
Lesotho

Vanuatu
1x
Year Deficit/surplus, % of GDP
Lesotho Vanuatu
2025 2.15% -3.88%
2024 8.17% -2.46%
2023 7.36% -0.78%
2022 -6.33% -5.96%
2021 -4.79% 2.07%
2020 1.45% -1.74%
2019 -5.09% 2.48%
2018 -4.41% 5.53%
2017 -2.02% -1.06%
2016 -9.43% -0.64%
2015 -1.38% -8.13%
2014 3.16% 1.26%
2013 -2.58% -0.22%
2012 4.56% -1.54%
2011 -9.85% -1.98%
2010 -1.49% -2.38%
2009 -4.16% -0.76%
2008 8.1% -0.04%
2007 10.8% 0.25%
2006 11.6% 0.44%
2005 4.46% 1.68%
2004 6.05% 0.72%
2003 0.89% -1.22%
2002 -2.44% -3.29%
2001 -2.76% -3.01%
2000 -0.95% -5.67%
1999 -15.3% -0.5%
1998 -11.8% -6.01%
1997 0.27% -0.46%
1996 2.11% -1.61%
1995 5.13% -2.34%
1994 5.69% -1.35%
1993 7.55% -3.32%
1992 4.65% -2.1%
1991 9.74% -2.54%
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-07-08).

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

In 2025, Lesotho's government surplus, the difference between spending and revenue, was $55.4M, equivalent to 2.15% of GDP. This compares to Vanuatu's deficit of $52.6M, or 3.88% of GDP.

Over the past 35 years, Lesotho recorded a fiscal deficit in 16 of those years, while Vanuatu ran a deficit in 27 years. On average, Lesotho posted an annual surplus equal to 0.54% of GDP, compared to deficit of 1.44% of GDP for Vanuatu.

Inflation comparison by year

Inflation
Lesotho

Vanuatu
1x
Year Consumer prices inflation
Lesotho Vanuatu
2025 4.27% 0.66%
2024 6.11% 1.14%
2023 6.34% 11.2%
2022 8.27% 6.68%
2021 6.05% 2.34%
2020 4.98% 5.33%
2019 5.19% 2.76%
2018 4.75% 2.33%
2017 4.45% 3.08%
2016 6.6% 0.84%
2015 3.22% 2.48%
2014 5.37% 0.8%
2013 4.87% 1.46%
2012 6.05% 1.35%
2011 5.04% 0.87%
2010 -2.41% 2.76%
2009 -16.9% 4.3%
2008 10.7% 4.84%
2007 8.01% 3.94%
2006 6.07% 2.04%
2005 3.44% 1.2%
2004 5.02% 1.42%
2003 6.63% 3.02%
2002 33.8% 1.96%
2001 -9.62% 3.58%
2000 6.13% 2.54%
1999 - 2%
1998 - 3.28%
1997 - 2.83%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 26 years, Lesotho has recorded an average annual inflation rate of 5.1%, compared with 2.88% in Vanuatu. In 2025, inflation was 4.27% in Lesotho and 0.66% in Vanuatu.

Balance of trade

Lesotho Vanuatu
Current account balance
-$3.94M
2025
-$127M
2022
Current account balance ranking
71/190
2025
83/190
2022
Current account balance, % of GDP
-0.15%
2025
-11.1%
2022
Goods imports
$1.69B
2025
$350M
2022
Goods exports
$933M
2025
$73.6M
2022
Service imports
$467M
2025
$230M
2022
Service exports
$16M
2025
$78.5M
2022
Imports of goods and services, % of GDP
104.5%
2025
48%
2024
Exports of goods and services, % of GDP
49.5%
2025
25.3%
2024

Economic freedom indices

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

Lesotho Vanuatu
Economic freedom 54.9 61.1
Economic freedom ranking 130/197 92/197
Property rights 41.7 62.1
Government integrity 39.6 48.3
Judicial effectiveness 43.6 67.9
Tax burden 76.4 96.9
Government spending 21.3 48.1
Fiscal health 93.5 78.8
Business freedom 50.6 50.3
Labor freedom 57 41
Monetary freedom 74.8 72.1
Trade freedom 65.4 62
Investment freedom 55 65
Financial freedom 40 40

Economic freedom comparison by year

Lesotho
Vanuatu
1x
Year Economic freedom index
Lesotho Vanuatu
2026 54.9 61.1
2025 54.1 61.8
2024 51.9 62.2
2023 51.6 62.1
2022 48.1 62.9
2021 53.5 60.5
2020 54.5 60.7
2019 53.1 56.4
2018 53.9 69.5
2017 53.9 67.4
2016 50.6 60.8
2015 49.6 61.1
2014 49.5 59.5
2013 47.9 56.6
2012 46.6 56.6
2011 47.5 56.7
2010 48.1 56.4
2009 49.7 58.4
2008 52.1 -
2007 53.2 -
2006 54.7 -
2005 53.9 -
2004 50.3 -
2003 52 -
2002 48.9 -
2001 50.6 -
2000 48.4 -
1999 48.2 -
1998 48.4 -
1997 47.2 -
1996 47 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Lesotho is 54.9, ranking 130/197, compared to 61.1 for Vanuatu, ranking 92/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lesotho Vanuatu
Services, % of GDP
55.6%
2025
56.8%
2024
Industry, % of GDP
25.2%
2025
10.1%
2024
Agriculture, forestry, and fishing, % of GDP
6.49%
2025
26.6%
2024
GNI, Atlas method
$3.03B
2025
$1.48B
2025
GNI per capita, PPP
$3,900
2025
$4,970
2025
Total reserves including gold
$1.01B
2024
$615M
2024
Total reserves ranking
142/177
2024
152/177
2024
Net foreign direct investment
$5.77M
2025
-$9.21M
2022
Net inflows of foreign direct investment
-$12.6M
2024
$28.9M
2024
Net outflows of foreign direct investment
$0
2024
$2.79M
2024
Servicing debt to the IMF, % of GNI
3.79%
2024
1.88%
2024
Poverty at national poverty lines
49.7%
2017
15.9%
2020
Gross capital formation, % of GDP
31.2%
2025
26.1%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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.