Economy
Eighty-six percent of households in Lesotho make their living off of subsistence farming and animal husbandry, though major drought in the past few years has decreased the amount of agricultural activity. There are a few small manufacturing businesses that depend upon farm products to run; these include the canning, leather, millilng and jute industries. Thirty-one percent of all male wage earners work in mines in South Africa, though the number of miners has been declining for the past few years.
Due to major political conflicts, many businesses have had temporary disruptions, causing the economy of Lesotho to slow greatlly. The unemployment rate is forty-five percent, ranking Lesotho 190th in world unemployment rate standings. Forty-nine percent of the population lies below the poverty line.
In US dollars, the GDP per capita is a mere $1,700; compare this with Canada at $38,400 US dollars.
Some data:
- Agricultural products - corn, wheat, pulses, sorghum, barley, livestock
- Industries - food, beverages, textiles, apparel assembly, handicrafts, construction, tourism
- Labour force - 854,600
- GDP composition by sector - agriculture: 15.9%; industry: 45.4%; services: 38.7%
