Current Account Balance: Lesotho

Analysis# Lesotho Current Account Balance Lesotho's current account balance stands at -2.5% of GDP in 2026, reflecting a modest deficit after a volatile recovery period. The metric has swung dramatically since 1980, peaking at 51.2% of GDP in 1985 before collapsing to -32% in 1991. Over the past 46 years, the overall trajectory has shifted 72.2 percentage points toward deficit, indicating a fundamental structural change in the country's external accounts. Recent years reveal sharp volatility and a turning point around 2023. The deficit widened substantially to -14% of GDP in 2022, then unexpectedly reversed to near-balance at -0.8% in 2023, followed by a surplus of 2.3% in 2024. The 2026 projection of -2.5% suggests a return to modest deficit territory, pointing toward structural external imbalances rather than sustained improvement.