Country Policy Review: Lesotho
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Economic growth in Lesotho, which is based on limited agricultural and pastoral production, light manufacturing consisting of textile, clothing, milling and leather, and remittances from Lesotho mine workers in South Africa, has been on the shrinking in recent years. The global economic crisis has resulted in the declining demand from the shrunken US market of textile exports (in 2009), affecting growth for the country as Lesotho is Africa’s biggest apparel exporter to America, as well as less d emand from the EU for diamonds (Central Bank of Lesotho, May 2010).