Sri Lanka Customs exceeds revenue goal for sixth month in June

Thursday June 25, 2026 5:31 pm ECONOMYNEXT – Sri Lanka Customs exceeded its monthly target for a sixth consecutive month, achieving the June target before the end of the month, official data showed. Customs’ May revenue target was set at 184.9 billion rupees. However, the revenue collecting body had already collected 194.1 billion rupees in the first 23 days of the month, exceeding the target, official data showed. Customs has set a revenue target of 2,207 billion rupees for this year, 13.5 percent less than last year as it originally expected a significant decline in car imports. Data showed it achieved 60.8 percent of this year’s target of 1,342.6 billion rupees even before the end of six months. Last year, Customs collected a record 2,551 billion rupees in revenue, exceeding an upwardly revised target of 2,241 billion rupees for the year and achieving 64.2 percent higher revenue than the previous year’s revenue of 1,553 million rupees. Sri Lanka Customs’ revenue jump is largely due to stronger enforcement, improved valuation practices, and a rebound in import volumes after years of contraction. Following the 2022 economic crisis, imports fell sharply as the country imposed restrictions to conserve foreign exchange. However, with the stabilization of reserves, the relaxation of certain import controls, and a steady recovery in consumer demand, customs collections from import duties, excise, and other levies have risen. Officials note that tighter monitoring of under-invoicing and misdeclaration of goods has also contributed to boosting state revenue. The combined effect of increased import activity, currency movements, and stricter enforcement has positioned Customs as one of the top revenue sources for the Treasury in 2025, providing a vital cushion as the state works to meet fiscal targets under the IMF-supported program. (Colombo/June 25/2026)