The economy of Lesotho has developed considerably due to the contributions from
Lesotho Industry. The mission that has been set up by the Ministry of Trade and Industry is to generate more revenue and enable settings for industrial, commercial and agri-business expansion.
Lesotho has extensive range of light industries that consist of tapestry weaving, tire remodeling, production of textiles and diamond processing. In Lesotho, production of candles, shoes, ceramics, electric lighting, fertilizers, explosives and furniture takes place. During the period of 1980s, industrial development was promoted in Lesotho by the Lesotho National Development Corporation to provide a boost to the production of fruits, beer, vegetables, wire, steel and parachutes.
There has been instances of immense growth in the manufacturing sector of Lesotho in recent times. Manufacturing in the country largely depends on the agricultural inputs to support canning, milling, jute and leather industries.
Mining industry is also on rise in Lesotho due to the rich deposition of uranium in the country. Diamond is the chief profitable mineral of the country. Urban growth in Lesotho has supplied to the augmentation of catering and construction sectors. The important materials exported from
Lesotho Industry are clothing, ceramics, cut diamonds, inedible crude materials, furniture, miscellaneous manufactured wool and goods. The year 1991 witnessed the opening of a television assembly plant at Lesotho.
Electricity, cereals, machinery, food ingredients, petroleum and oil products are imported to Lesotho. The Ministry of Trade and Industry in Lesotho has the following goals:
- Assisting and identifying local entrepreneurs and the agricultural community for utilizing the opportunities of export and to develop the agricultural, industrial and commercial sectors
- Attraction of foreign investors so that the industrial base of the country can be expanded
- Nurturing of effectual participation of Lesotho in regional and global trade organizations
Some of the objectives of Lesotho Ministry of Trade and Industry are:
- Promotion and development of optimum quality and output programs so that there can be improvement in the position of Lesotho in the arena of liberalized global market
- Monitoring and formulation of applied policies for the function of industrial and commercial development and to implement facilitating legislation in order to endorse the expansion of industry and trade in the country
- Coordination and enlargement of institutional frameworks so as to enhance entrepreneurship skills
