User:Liliananrodriguez/Economy of Lesotho

Economic progress[ edit]
Lesotho's progress in moving from a predominantly subsistence-oriented economy to a lower middle income, diversified economy exporting natural resources and manufacturing goods has brought higher, more secure incomes to a significant portion of the population. The percentage of the population living below USD PPP US$1.25/day fell from 48 percent to 44 percent between 1995 and 2003. The percentage again dropped in 2019 to 36.4%. The unemployment rate in 2008 was 25.29% and rose to 27.2% in 2012. However, the unemployment rate fell to 23.06% in 2017. The percentage of the population living below the poverty line fell from 58% in 2002 to 49.2% in 2017. The country is still among the "Low Human Development" countries (rank 155 of 192) as classified by the UNDP, with 42.3 years of life expectancy at birth. However, adult literacy is very high - 82% and children under weight aged under 5 is only 20%.

Lesotho has received economic aid from a variety of sources, including the United States, the World Bank, the United Kingdom, the European Union, and Germany.

Lesotho has nearly 6,000 kilometers of unpaved and modern all-weather roads. There is a short rail line (freight) linking Lesotho with South Africa that is totally owned and operated by South Africa.

In 2017, mines were found to contain diamonds. After this discovery, diamonds have become a main export of Lesotho. The following year, the central bank policy rate decreased from 7% in July 2018 to 6.5% in 2017. The inflation rate lowered from 6.8% in 2016 to 4.8% in 2018. The account deficit lowered from 6.5% in 2017 to 2.8% in 2018.

Women in the Economy[ edit]
Women make up 51% of Lesotho’s population. While women are more subject to access to secondary schooling than men, men make 1.5 times more income than women. Prior to the 1950s, Basotho women migrated to South Africa for work due to an agricultural decline. Of those who migrated, many of them were unwed and many stayed in South Africa. Married couples also traveled to South Africa together for work. In 1923, the pass law Natives (Urban Areas) Act was passed in South Africa which required black men to carry passports with them at all times when in white areas for work. Women were included in an amendment to the law in 1952. The amendment caused a decline in migration of female labor, and by the 1970s, only 36.1% of women over age 39 in Lesotho had worked in South Africa. Lesotho women did not work in mines.

In the 1980s, Lesotho received aid to help with the manufacturing industry. The main workers employed in the industry were young women. In 1990, 92% of employees in the textile industry were women.

About 86% of the female population in Lesotho works in the textile industry.