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Lesotho Import Data

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Lesotho Import Data

Lesotho is a small landlocked country located in Southern Africa. Despite its size, it has a thriving economy, with a significant portion of its GDP coming from international trade.

Lesotho's imports have been steadily increasing over the years. In 2019, it ranked as the 148th largest importer in the world. However, by 2022, it is expected to move up two spots and become the 146th largest importer globally.

As of 2022, Lesotho's population stands at approximately 2.3 million people. Despite being one of Africa's smallest countries by land area, it boasts a diverse population with various ethnic groups living harmoniously together. The Basotho people make up over 99% of the population and are known for their rich culture and traditional practices.

In 2022, the country's GDP is projected to reach $3.7 billion, with a growth rate of 4%. This growth can be attributed to increased investments in infrastructure development, especially in the energy and transportation sectors. The government has also implemented various policies aimed at promoting economic diversification and reducing its dependence on traditional exports.

The top imported products in Lesotho are diverse and range from machinery and electrical equipment to food items and textiles. However, based on current trends and projections, we can expect some products to be among the top importing goods for Lesotho in 2022.

One such product is refined petroleum. As Lesotho relies heavily on imports for its energy needs, it is expected that refined petroleum will continue to be one of its top imported goods in 2022. Other products that are likely to make it to the list include vehicles, medical equipment, and pharmaceuticals.

South Africa has consistently been Lesotho's top trading partner for both exports and imports due to their geographic proximity and strong economic ties. It is expected that this trend will continue in 2022 as well.

Other important import partners for Lesotho include China, India, Japan, and Germany. These countries supply a wide range of products to Lesotho, including machinery, textiles, and chemicals. Additionally, Lesotho has been strengthening its trade relations with other African countries such as Namibia, Zambia, and Zimbabwe.

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Lesotho Import Customs Trade Data Shows Top 10 Importing Products In 2022 – Analysis By Chapter

  • 16.7% (313 million US dollar) HS CODE: 27 - Bituminous substances; mineral waxes; mineral fuels, mineral oils, and their distillation products
  • 7.03% (131 million USdollar)HS CODE: 52 - Cotton
  • 5.48% (102 million USdollar)HS CODE: 60 - Fabrics that are knitted or crocheted
  • 5.46% (102 million USdollar)HS CODE: 85 - Machinery and equipment related to electricity and its parts; sound recorders and reproducers, television image and sound recorders and reproducers, and their parts and accessories
  • 4.9% (91 million USdollar)HS CODE: 84 - Parts of nuclear reactors, boilers, machinery, and mechanical appliances
  • 4.38% (81 million USdollar) HS CODE: 87 - Parts and accessories for vehicles other than railway or tramway rolling stock
  • 3.41% (63 million USdollar)HS CODE: 10 - Cereals
  • 3.23% (60 million USdollar)HS CODE: 11 - Malt; starches; inulin; wheat gluten; products of the milling industry
  • 2.84% (53 million USdollar)HS CODE: 22 - Vinegar, spirits, and beverages
  • 2.63% (49 million USdollar)HS CODE: 54 - Fabrics made from man-made filaments, strips and the like

Lesotho Import Global Trade Data Shows Top 10
Trading Partners of Lesotho

  • South Africa dominates with a share of 77% (1.44 billion US$)
  • China dominates with a share of 6.21% (116 million US$)
  • Other Asia dominates, nes with a share of 4.18% (78 million US$)
  • Zimbabwe dominates with a share of 3.82% (71 million US$)
  • India dominates with a share of 1.69% (31 million US$)
  • Japan - 15.7 million US$
  • Hong Kong - 13.6 million US$
  • Mozambique - 11.1 million US$
  • United Arab Emirates - 10.5 million US$
  • Zambia - 8.41 million US$

Lesotho Import Data Sample

HOW IMPORT GLOBALS, LESOTHO IMPORT DATA CAN BOOST YOUR BUSINESS

When it comes to international trade, accurate and up-to-date import data is crucial for businesses looking to expand their market reach. This is where Import Globals comes in, providing comprehensive and reliable import data for Lesotho. Our team collects this data from custom shipping bill documents, which are official documents that record all the details of goods being imported into the country.

One of the key components of our Lesotho import data is the Harmonized System (HS) code. This code is an internationally recognized system used to classify products traded globally. It consists of a six-digit numerical code assigned to each product category, making it easier to track and analyze imports. With this code, businesses can gain insights into what types of products are being imported into Lesotho and how they are classified.

In addition to HS codes, Lesotho customs data also includes detailed product descriptions. This information allows businesses to understand exactly what type of product is being imported and its specific characteristics. For instance, if a company is interested in importing textiles from Lesotho, they can use our data to determine which types of fabrics or garments are most popular in the country.

Furthermore, our Lesotho import trade data provides valuable information on the exporter and importer company names involved in each transaction. This allows businesses to identify potential partners or competitors within the market and build strategic relationships accordingly.

Another important aspect included in Lesotho Import custom data is the value and quantity of each shipment. These figures provide insights into how much money is being spent on certain products and how much volume they represent within the market. By analyzing these numbers, companies can make informed decisions about pricing strategies and potential profit margins.

Lesotho import global data provided by Import Globals also includes destination information – where the goods are being shipped to within Lesotho. This helps businesses identify which regions or cities have a higher demand for certain products, allowing them to target their marketing efforts more effectively.

In this globalized world where competition is fierce and markets are constantly evolving, having access to accurate and reliable data is crucial for any business looking to succeed. This is where Lesotho import data provided by Import Globals comes into play. With its comprehensive database and user-friendly interface, it has become an essential tool for businesses across all industries in Lesotho.

Using Lesotho import custom data saves time in searching for potential prospects. The database contains detailed information on all imports coming into the country from different countries around the world. This enables businesses to identify potential partners or suppliers quickly and efficiently without having to spend hours researching.

Lesotho import global data also helps in making the right business investments. By analyzing the data on imports from various countries and sectors, businesses can gain valuable insights into market trends and demand patterns. This information can then be used to make informed decisions regarding which products or services have a higher demand in the local market, thus reducing risks associated with investments.

Another crucial aspect where Lesotho import data proves beneficial is decision-making. With access to accurate and up-to-date information about imports entering the country, businesses can make strategic decisions based on market demands and competition analysis. For instance, if a particular product has a high demand but low supply in Lesotho's market due to limited imports from other countries, this could be an opportunity for businesses to fill that gap by importing those products themselves.

In a nutshell, Lesotho import data provided by Import Globals is an essential tool for all industries in the country. It not only saves time and effort in prospecting but also aids in making sound business investments and strategic decisions. With its help, businesses can grow globally and contribute to Lesotho's economic development.

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