South Africa and Lesotho
South Africa and Lesotho maintain a relationship of neighbourhood, shared resources and memories of solidarity. The binational commission inaugurated in September 2023 reviewed water, energy, business and irregular mining, with cultural and historical connections as the basis for dialogue.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08Bilateral context
Ramaphosa and Samuel Matekane co-chaired the inaugural binational commission session on 28 September 2023, upgrading the previous bilateral mechanism.
What merchandise trade shows
In 2025, goods trade between South Africa and Lesotho totalled 1,913.7 million current USD.
Documented trade sectors
Within the selected chapters, mineral fuels and oils stands out in shipments from South Africa to Lesotho, at 287.2 million USD in 2025.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 1,913.69 M USD | 2025 · Comtrade |
| Goods: South Africa to Lesotho | 1,523.22 M USD | 2025 · Comtrade |
| Goods: Lesotho to South Africa | 390.47 M USD | 2025 · Comtrade |
| Services trade | ||
| Export share: South Africa to Lesotho | 1.32 % | 2025 · Comtrade |
| Export share: Lesotho to South Africa | ||
| Investment stock: South Africa in Lesotho | ||
| Investment stock: Lesotho in South Africa |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade · Goods; full calendar year; reporter ZAF. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: South Africa to Lesotho
- 2025 · UN Comtrade · Goods; full calendar year; reporter ZAF. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: Lesotho to South Africa
- 2025 · UN Comtrade · Goods; full calendar year; reporter ZAF. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Export share: South Africa to Lesotho
- 2025 · UN Comtrade · Exports to the partner / worldwide exports by the same reporter; same year and coverage.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | South Africa | Lesotho |
|---|---|---|
| Nominal GDP | 427.18 billion USD2025 · World Bank | 2.57 billion USD2025 · WB |
| GDP per capita | 6,597.71 USD2025 · World Bank | 1,088.96 USD2025 · WB |
| GDP growth | 1.11 %2025 · World Bank | 1.98 %2025 · WB |
| Policy interest rate | ||
| Inflation · annual average | 3.21 %Annual average · 2025 · World Bank | 4.27 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 4.4 %Year-on-year · 2026-08 · Stats SAurban | |
| Unemployment | 32.39 %ILO est.2025 · World Bank | 16.32 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -5.8 %IMF est.2025 · IMF | 2.2 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 78.6 %IMF est.2025 · IMF | 49.1 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -0.42 %2025 · World Bank | -0.15 %2025 · WB |
| Population | 64,747,3192025 · World Bank | 2,363,3252025 · WB |
| Area | 1,219,090 km²2023 · World Bank | 30,360 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDSouth Africa: 2025 · World Bank · Official World Bank series; observation period, not download date.Lesotho: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP per capita
- Current USD per personSouth Africa: 2025 · World Bank · Official World Bank series; observation period, not download date.Lesotho: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP growth
- Annual real change (%)South Africa: 2025 · World Bank · Official World Bank series; observation period, not download date.Lesotho: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Policy interest rate
- Central bank instrument (%)
- Inflation · annual average
- Average annual change in headline CPI (%)South Africa: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series; observation period, not download date.Lesotho: 2025 · Annual average CPI change (%) · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedSouth Africa: 2026-08 · Headline CPI; change from the same month of the previous year · Stats SA · Urban headline CPI, not a geographically comprehensive national index or core inflation.
- Unemployment
- % of the labour force; definition used by the stated institutionSouth Africa: 2025 · ILO modelled estimate, percentage of the labour force · World Bank · ILO est. · Official World Bank series; observation period, not download date.Lesotho: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Annual World Bank observation, with its original year; not monthly data.
- Budget balance
- General government (% of GDP)South Africa: 2025 · IMF · IMF est. · IMF WEO general-government estimate. Retains the source’s fiscal year when it differs from the calendar year.Lesotho: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)South Africa: 2025 · IMF · IMF est. · IMF WEO general-government estimate. Retains the source’s fiscal year when it differs from the calendar year.Lesotho: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPSouth Africa: 2025 · World Bank · Official World Bank series; observation period, not download date.Lesotho: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Population
- PeopleSouth Africa: 2025 · World Bank · Official World Bank series; observation period, not download date.Lesotho: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Area
- Total area in km²; territorial coverage of the sourceSouth Africa: 2023 · World Bank · Official World Bank series; observation period, not download date.Lesotho: 2023 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
South Africa to Lesotho
| Product or sector | Value / share |
|---|---|
| Mineral fuels and oils | 287.2 M USD2025 · Source |
| Electrical and electronic equipment | 94.8 M USD2025 · Source |
| Vehicles and components | 69.9 M USD2025 · Source |
| Machinery and mechanical appliances | 66.1 M USD2025 · Source |
| Meat and edible offal | 47.1 M USD2025 · Source |
| Dairy products, eggs and honey | 23.7 M USD2025 · Source |
| Pharmaceutical products | 17.8 M USD2025 · Source |
| Metal ores | 0.889 M USD2025 · Source |
Lesotho to South Africa
| Product or sector | Value / share |
|---|---|
| Electrical and electronic equipment | 36.6 M USD2025 · Source |
| Vehicles and components | 0.222 M USD2025 · Source |
| Dairy products, eggs and honey | 0.186 M USD2025 · Source |
| Machinery and mechanical appliances | 0.171 M USD2025 · Source |
| Mineral fuels and oils | 0.158 M USD2025 · Source |
| Pharmaceutical products | 0.0076 M USD2025 · Source |
| Metal ores | 0.00000348 M USD2025 · Source |
How trade has changed
Billions of current USD · full calendar years
View chart figures
| Period | Total | South Africa to Lesotho | Lesotho to South Africa |
|---|---|---|---|
| 2021 | 1,715.2 | 1,390.2 | 325 |
| 2022 | 1,781.7 | 1,451.3 | 330.4 |
| 2023 | 1,692.7 | 1,371.5 | 321.2 |
| 2024 | 1,793.1 | 1,462.1 | 330.9 |
| 2025 | 1,913.7 | 1,523.2 | 390.5 |
Connections between people
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from South Africa living in Lesotho | ||
| Residents from Lesotho living in South Africa | ||
| Study and training: South Africa in Lesotho | ||
| Study and training: Lesotho in South Africa | ||
| Academic stays: South Africa in Lesotho | ||
| Academic stays: Lesotho in South Africa | ||
| Travel: South Africa to Lesotho | ||
| Travel: Lesotho to South Africa |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
The scale of both economies
Nominal GDP for South Africa is 427.2 billion USD (2025), compared with 2.6 for Lesotho (2025). The reference populations are 64.75 and 2.36 million, respectively. In the same year, the economy of South Africa was 165.99 times that of Lesotho in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [5] [6] [7] [8]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Bilateral context
Ramaphosa and Samuel Matekane co-chaired the inaugural binational commission session on 28 September 2023, upgrading the previous bilateral mechanism. South Africa recalled the refuge Lesotho offered anti-apartheid movements. [1]
Cooperation and bilateral issues
It highlighted the Lesotho Highlands Water Project’s second phase for supplying Gauteng and other areas and its contribution to employment and roads in Lesotho. Four renewable projects were described as proposed, not operational. They also addressed business difficulties, investment protection and irregular mining. Ramaphosa lamented miners’ deaths in Welkom and noted work to recover bodies without endangering rescuers. The agenda included support through SADC for Lesotho’s national reform process, distinct from direct intervention in its government. [1]
What merchandise trade shows
In 2025, merchandise trade between the two countries (South Africa and Lesotho) totalled 1,913.7 million current USD. Shipments from the first to the second were 1,523.2 million; those in the opposite direction, 390.5 million. The difference between the two flows was 1,132.8 million, in favour of South Africa. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [2]
The partner's share of exports
Sales from South Africa to the partner represented 1.32% of its worldwide goods exports in 2025. The share compares the same reporter, year and coverage. It measures export concentration, not the percentage of GDP dependent on this relationship. A partner may be important in a specific sector even if its share of total goods trade is small. [2]
Five years of trade trends
The consistent series shows 1,715.2 million USD in 2021 and 1,913.7 million in 2025. The change between the two endpoints was +11.6 % in current dollars. The highest annual value in the period was recorded in 2025, at 1,913.7 million. The chart allows the two directions to be compared to see whether they moved together or differently. The change combines quantities, prices and exchange rates; it is not automatically attributed to a treaty, a visit or a political decision. The same reporter is retained and missing years are not interpolated. [3]
Documented trade sectors
Within the selected chapters, mineral fuels and oils stands out in shipments from South Africa to Lesotho, at 287.2 million USD in 2025. Within the selected chapters, electrical and electronic equipment stands out in shipments from Lesotho to South Africa, at 36.6 million USD in 2025. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [4]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — ZAF-LSO
South Africa's Department of International Relations (DIRCO) · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Trade series 2021–2025
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
- NY.GDP.MKTP.CD; country ISO and year preserved; no military data; exact requested country subset independently re-fetched and values compared
World Bank · Institutional source · Accessed: 2026-10-07
- Official series — gdp
World Bank · Institutional source · Accessed: 2026-10-07
- SP.POP.TOTL; country ISO and year preserved; no military data; exact requested country subset independently re-fetched and values compared
World Bank · Institutional source · Accessed: 2026-10-07
- Official series — population
World Bank · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade
2026-10-08 · Accessed: 2026-10-08 · Bounded matrix; reporter, partner, year, chapter and direction identified in each record.