LESOTHO–Denim Buyers, Export Figures , Fabric Import etc.
The Kingdom of Lesotho is a unique country in Southern Africa. Completely surrounded by its only neighbour South Africa, land-locked and geographically small, Lesotho is classified as a Least Developed Country (LDC) by the United Nations. Together with Botswana, Namibia, South Africa and Swaziland, Lesotho forms the Southern African Customs Union (SACU) – the oldest customs union in the world. Historically, Lesotho’s export capacity has been small, and most of its exports were traditionally destined for the South African market. However, over the years, Lesotho has pursued an export-led development strategy as part of its overall goal for economic development and eradication of poverty. Part of this strategy involves utilisation of trade preference arrangements such as the United States’ African Growth and Opportunity Act (AGOA) and the European Union’s Everything But Arms (EBA) initiative. These have contributed to the diversification of export markets, especially to the US.