FINANCIAL CHRONICLE – This week, Sri Lanka Customs achieved a significant revenue milestone, surpassing the 1 trillion rupee mark, as confirmed by the agency’s spokesperson. The organization has consistently exceeded its monthly revenue objectives.
On Wednesday, May 13, Customs Spokesman Chandana Punchihewa announced, “Yesterday, Sri Lanka Customs reached a remarkable achievement in revenue collection for 2026, having crossed the Rs. one trillion threshold.”
As of Monday, total revenue collected by Customs stood at 995.8 billion rupees, representing 45.1 percent of the yearly goal of 2,207 billion rupees, according to official statistics.
This milestone was reached within the first 132 days of the year, following four consecutive months of surpassing monthly targets. The cumulative revenue for the initial four months of the year exceeded expectations by 33.7%, totaling 919.3 billion rupees.
In comparison to the same timeframe last year, Customs revenue increased by 49.8% during the initial four months of this year. In 2022, the agency recorded a historic revenue collection of 2,551 billion rupees, which was above the revised target of 2,241 billion rupees, marking a substantial 64.2% rise from the previous year’s revenue of 1,553 million rupees.
For this year, the Customs revenue target has been reduced by 13.5% compared to last year, as a significant decline in vehicle imports is anticipated.
The recent surge in Customs revenue can be attributed to enhanced enforcement measures, improved valuation methods, and a recovery in import volumes following previous years of decline.
Following the economic crisis in 2022, the country saw a drastic reduction in imports due to restrictions aimed at conserving foreign currency. However, with the stabilization of foreign reserves, the easing of certain import regulations, and a gradual rebound in consumer demand, revenue from import duties, excise taxes, and other levies has increased.
Officials have pointed out that more stringent monitoring of under-invoicing and misclassification of goods has also played a vital role in increasing government revenue.
The combined impact of heightened import activities, currency fluctuations, and rigorous enforcement has established Customs as a key revenue contributor for the Treasury in 2025, providing essential support as the government strives to meet fiscal objectives outlined in the IMF-backed program. (Colombo/May 13/2026)
