n AfricaGrowth Agenda - Can small dependent economies gain sustainable growth from international trade? The case of Lesotho

Volume 2014, Issue 4
  • ISSN : 1811-5187


This article investigates whether the Lesotho economy could attain sustainable economic growth through international trade. The economy has benefited from international trade - signalled by a surge in both FDI and exports, and a decline in unemployment - mainly because of the preferential trade arrangements accorded to Lesotho in the global market. However, due to the fact that its exports are predominantly clothing and textile items destined to the US and because of the temporary nature of these preferential trade treatments the economy remains susceptible to shocks. Upon their expiration the economy suffers steep declines in exports and unemployment exacerbate.

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