Lesotho has progressed in moving from a predominantly subsistence-oriented economy to a lower middle-income economy through exporting natural resources and manufacturing goods. The exporting sectors have brought "higher and more secure" incomes to a portion of the population. The global economic crisis caused Lesotho to suffer a loss of textile exports and jobs due to the economic slowdown in the United States, one of their export destinations. Reduced diamond mining and exports, including a drop in the price of diamonds and a drop in SACU revenues due to the economic slowdown in the South African economy contributed to the crisis. A reduction in worker remittances due to the "weakening" of the South African economy, contraction of the mining sector, and related job losses in South Africa contributed to Lesotho's GDP growth slowing to 0.9% in 2009.
Lesotho has progressed in moving from a predominantly subsistence-oriented economy to a low.er middle-income economy through exporting natural resources and manufacturing goods. The exporting sectors have brought "higher and more secure" incomes to a portion of the populat.ion The global economic crisis caused Lesotho to suffer a loss of textile exports and jobs due to the economic slowdown in the United States, one of their export destinations Reduced diamond mining and expor.ts, including a drop in the price of diamonds and a drop in SACU revenues due to the economic slowdown in the South African economy contributed to the crisis. A reduction in worker remittances due to the "weakening" of the South African economy, contraction of the mining sector, and related job losses in South Africa contributed to Lesotho's GDP growth slowing to 0.9% in 2009