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Economy, Currency and Foreign Trade

customs union, currency unit, Remittances, mohair, peas

The currency unit in Lesotho is the loti (plural maloti), which is divided into 100 lisente (6.94 maloti equal U.S.$1; 2000 average). Most trade is with South Africa, with which Lesotho is linked in a customs union, along with Botswana, Namibia, and Swaziland. In the early 1990s principal exports were wool, mohair, wheat, cattle, peas, beans, corn, hides, and baskets. Chief imports were corn, building materials, clothing, vehicles, machinery, medicines, and petroleum. In 2000 imports cost $720 million and exports earned $180 million. Remittances from workers in South Africa were estimated at more than $300 million in the early 1990s.



Article key phrases:

customs union, currency unit, Remittances, mohair, peas, hides, beans, Namibia, corn, Botswana, wool, wheat, Lesotho, medicines, clothing, cattle, vehicles, machinery, workers, South Africa, materials

 
 

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