A new analysis of Bureau of Statistics data has ranked Finance and Insurance as Lesotho’s fastest-growing industry, with real GDP in the sector rising 9.7% year over year to Q3 2025, as the broader economy expanded by 3.6% in the same quarter.
By Staff Reporter | Lesotho Tribune
Finance and Insurance recorded the largest year-over-year increase of any industry in Lesotho’s economy between Q3 2024 and Q3 2025, according to an analysis of quarterly national accounts data published by the Bureau of Statistics Lesotho.
The analysis, conducted by business services firm DPHK Consulting, ranked industries by their year-over-year percentage change in real GDP, measured in million Maloti at constant 2012 prices. Finance and Insurance posted a 9.7% increase, rising from an estimated M1.02 billion (approx. USD 60.7 million) in Q3 2024 to M1.12 billion (approx. USD 66.7 million) in Q3 2025.
Manufacturing ranked second with growth of 7.4%, from M589 million to M633 million, while Education and Health placed third, up 7.2%, from M165 million to M177 million. Public Administration and Information and Communication rounded out the top five, growing 6.8% and 5.8% respectively.
“The industry breakdown shows where that growth is really coming from. Finance and insurance, manufacturing, and education and health were the strongest contributors in the latest figures.”
Lesotho’s overall real GDP expanded by 3.6% in Q3 2025, with ten of the fifteen industries covered recording positive growth. A DPHK Consulting spokesperson said the headline figure masked significant variation across sectors. Electricity and Water, Hotels and Restaurants, and Other Services were among the weaker performers in the period.
Fastest-growing industries in Lesotho — Q3 2024 to Q3 2025
| Rank | Industry | Q3 2024 (est.) | Q3 2025 | Change |
|---|---|---|---|---|
| #1 | Finance and Insurance | M1.02bn | M1.12bn | 9.7% |
| #2 | Manufacturing | M589m | M633m | 7.4% |
| #3 | Education and Health | M165m | M177m | 7.2% |
| #4 | Public Administration | M837m | M894m | 6.8% |
| #5 | Information and Communication | M295m | M312m | 5.8% |
| #6 | Construction | M201m | M210m | 4.6% |
| #7 | Transport and Storage | M104m | M108m | 4.1% |
| #8 | Wholesale and Retail Trade | M382m | M391m | 2.4% |
| #9 | Real Estate | M308m | M311m | 1.2% |
| #10 | Agriculture, Forestry, Fishing | M349m | M351m | 0.5% |
Source: Bureau of Statistics Lesotho, Quarterly National Accounts Q3 2025. Real GDP in million Maloti at constant 2012 prices. Q3 2024 figures estimated from published percentage changes. Analysis by DPHK Consulting.
The DPHK analysis excluded aggregate totals and adjustment lines from its rankings, including the “All industries at basic prices” and “GDP seasonally adjusted” lines. The underlying data is drawn from the Bureau of Statistics Lesotho’s Quarterly National Accounts Third Quarter 2025 report.
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