Sri Lanka Customs has surpassed its revenue goals for May by 22%, with first-half revenue for 2026 showing an impressive increase of approximately 29.5% compared to the same timeframe last year, according to official statistics.
The revenue target for June was established at 184.9 billion rupees; however, the agency managed to collect 225.2 billion rupees, significantly exceeding its expectations. In the first half of the year, the total revenue reached 1,373.8 billion rupees, also surpassing the cumulative target by 29.5%.
In the previous year, Customs achieved a historic revenue collection of 2,551 billion rupees, exceeding a revised annual target of 2,241 billion rupees and reflecting a remarkable 64.2% increase over the 1,553 billion rupees collected in the prior year.
For the current year, the revenue target has been set at 2,207 billion rupees, which is 13.5% lower than last year’s figure, primarily due to anticipated reductions in car imports. So far, Customs has achieved 62.2% of this year’s target within the first six months.
The significant rise in revenue can be attributed to enhanced enforcement measures, better valuation practices, and a recovery in import volumes following several years of decline. Following the economic crisis in 2022, Sri Lanka had implemented import restrictions to conserve foreign currency, which led to a steep drop in imports.
However, with the stabilization of foreign reserves, the easing of certain import restrictions, and a gradual recovery in consumer demand, the revenue from import duties, excise taxes, and other levies has increased substantially.
Officials have indicated that more rigorous oversight regarding under-invoicing and the misrepresentation of goods has further bolstered state revenue. The combination of heightened import activity, fluctuations in currency, and stricter enforcement has positioned Customs as a key contributor to the Treasury’s revenue in 2025, providing essential support as the government strives to meet fiscal objectives set forth in its IMF-backed program.
