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Trade and Regional Integration in Lesotho: FY2019/20
Lesotho's exports have grown consistently during the period from 2015 to 2018 even though the merchandise trade balance has not improve significantly. This has led to a minor deterioration in gross official foreign exchange reserves in spite of the persistent depreciation of the LSL until 2017/18. In addition, the widening services trade deficit has deteriorated Lesotho’s current account balance. Lesotho is still heavily dependent on clothing and textiles and diamond exports which are also amongst its top export to the Southern African Development Community (SADC). However, Lesotho is highly integrated in SADC but its trade is unbalanced due to the significant trade deficit in the region. This suggests that there is significant room to increase and diversify Lesotho’s exports to SADC.