Monday July 13, 2026 6:51 pm ECONOMYNEXT – Sri Lanka’s foreign exchange revenue from tourism recorded its lowest monthly revenue in June 2026 and fell 10.9 percent from a year ago to US$151.1 million, the central bank said, quoting tourism promotion authority data. It was the lo…
Monday July 13, 2026 6:51 pm
ECONOMYNEXT – Sri Lanka’s foreign exchange revenue from tourism recorded its lowest monthly revenue in June 2026 and fell 10.9 percent from a year ago to US$151.1 million, the central bank said, quoting tourism promotion authority data. It was the lowest monthly revenue from tourism since October 2023, the data showed. The fall also come a month after the government-owned tourism promotion body revised its daily average spending per tourist and the duration of tourist stay last month. The revenue from the tourism has been on the fall in terms of year-on-year after the U.S./Israel bombing on Iran started on February 28. Total tourism revenue in the first six months also fell 11.8 percent to US$1,511.1 million, compared to US$1,712.6 million in the same period last year. The state-owned Sri Lanka Tourism Development Authority (SLTDA) revised the methodology for compiling monthly tourism earnings estimates retrospectively since January this year in May, citing the need to “enhance the accuracy and representativeness”. The island nation’s tourism revenue has been lower since August last year compared to arrivals after the relevant authority revised down per-day tourism spending, officials have said. The monthly revenue in June showed a fall for the 10th time in the last 12 months, excluding September and October last year, despite an increase in the number of arrivals. Sri Lanka has set ambitious target of 3 million arrival and US$4 billion revenue for 2026. The island nation witnessed US$3.22 billion in revenue in 2025, a 1.6 percent jump compared to US$3.17 billion in the previous year, the data showed. Arrivals picked up 15.1 percent in 2025 compared to the previous year with the number of foreign visitors to Sri Lanka rising to a record 2,362,521 from 2,053,465. Tourism accounted for nearly 5 percent of Sri Lanka’s economy when the sector was at its peak in 2018. Since then, it has been hit by the violent Easter Sunday suicide attack in 2019, the Covid-19 pandemic in 2020 followed by an unprecedented economic crisis. The tourism earnings figure is estimated from a survey conducted by the Sri Lanka Tourism Development Authority. Sri Lanka’s imports and the merchandise trade deficit have gradually picked up as tourism earnings came in and people in the sector spent their wages and other earnings. (Colombo/July 13/2026)
Monday July 13, 2026 5:43 pm
Monday July 13, 2026 5:43 pm
ECONOMYNEXT – Sri Lanka’s official remittances fell to a seven-month low of US$695 million in June 2026 though they were still up 9.3-pct to US$695mn compared to the same month last year, Central Bank data showed. The June inflows from foreign workers were the lowest since November 2025. The reduction comes amid depreciation of the rupee currency since April with escalation in the Middle East, the largest foreign job market for Sri Lankans. Market analysts say expatriates switch to informal remittance methods like Hawala and Undiyal when there is uncertainty over the exchange rate. Inflows from Sri Lankan workers abroad rose 23.2 percent to US$4,604.8 million in the first six months of this year compared to the same period last year. The island nation saw a record monthly remittance of US$879.1 million in December last year and historically high annual high worker remittances of US$ 8,076.2 million in 2025. Higher worker remittances follow a higher number of the island nation’s labour force leaving the country to search for foreign jobs amid Sri Lanka’s recovery from an unprecedented 2022 economic crisis, official data showed. Remittances have risen continuously after the central bank abandoned a parallel exchange rate regime, which compelled most expatriates to switch from informal Undiyal and Hawala money transfer methods. The island nation has been in the process of sending more migrant workers focusing on professionals to bring in higher foreign exchange since the country declared bankruptcy in 2022. Worker remittances through official channels fell sharply in 2021 after many expatriates switched to informal money transferring channels because they were offered higher rates than formal banking channels. The move followed the Central Bank printing money to sterilize interventions and keep a policy rate down, which triggered parallel exchange rates settled outside the formal banking system. From April 2022, the interest rates were raised by unprecedented levels, slowing credit and the need to print money to keep rates down. Later, the Central Bank started its dovish monetary policy until May this year. (Colombo/July 13/2026)
Monday July 13, 2026 4:00 pm
Monday July 13, 2026 4:00 pm
ECONOMYNEXT — Sri Lanka’s National Insurance Trust Fund (NITF) will pay 6 million rupees in compensation to families of eight prison officers who died in the Negombo prison riot last week, officials said. Officials of the statutory board said all eight were registered under the ‘Agrahara Gold’ medical and life insurance scheme. “We have taken a very prompt decision to pay these death claims as quickly as possible,” Nuwan Dissanayake, Assistant Manager (Marketing) of the National Insurance Trust Fund said, noting that preliminary data has already been exchanged with the Department of Prisons head office. The total allocation of 6 million rupees will be distributed among the beneficiaries once formal claim applications are completed. All eight victims were married, and the compensation will be directed to their surviving spouses and children. The Agrahara insurance scheme is a mandatory health and life cover designed for Sri Lanka’s public sector employees, managed exclusively by the NITF to provide a social safety net during critical mishaps. Officials reiterated that the NITF remains positioned as a crucial state apparatus to fulfill the government’s welfare obligations during unexpected disasters, ensuring the Negombo claims will be completely processed within the coming days. (Colombo/July13/2026)
Monday July 13, 2026 3:50 pm
Monday July 13, 2026 3:50 pm
ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed down on Monday trading, CSE data showed, with the benchmark All Share Price Index moving down 1.07 percent as the war situation in West Asia escalated. The ASPI was down 233.18 points at 21,532.38, while the more liquid S&P SL20 was down 0.68 percent, or 41.52 points, at 6,035.94. Analysts said that the market reflected the newly escalated situation in West Asia, as the US and Iran continued to exchange missile strikes amid ongoing tensions over shipping through the Strait of Hormuz. Positive contributors to the ASPI were Bukit Darah (up 1.68 percent at 864.25 rupees), Richard Pieris and Company (up 1.64 percent at 31.00 rupees), and Citizens Development Business Finance (up 1.46 percent at 41.60 rupees). CT Holdings (down 7.94 percent at 501.75 rupees), Commercial Bank of Ceylon (down 1.10 percent at 203.00 rupees), Sampath Bank (down 1.08 percent at 137.25 rupees), Melstacorp (down 1.21 percent at 183.25 rupees), and Hatton National Bank (down 0.76 percent at 394.00 rupees) were top negative contributors. Market turnover was 1.04 billion rupees. Banks led turnover with 280.3 million rupees. Palm Garden Hotels announced it is not in compliance with the Minimum Public Holding Requirement under CSE rules, reporting a public holding percentage of 1.08 percent and a float-adjusted market capitalization of 288.1 million rupees. Meanwhile, People’s Leasing & Finance listed 59,766,864 ordinary voting shares with effect from July 13, 2026, pursuant to a scrip dividend. Shares closed down 0.47 percent at Rs.21.00. (Colombo/July13/2026)
Monday July 13, 2026 3:47 pm
Monday July 13, 2026 3:47 pm
ECONOMYNEXT – Sri Lanka and Uzbekistan have signed an agreement establishing a formal framework for regular bilateral dialogue and enhanced cooperation between the two countries, the Ministry of Foreign Affairs said. “The MoU reflects the shared commitment of both countries to further deepen engagement and strengthen institutional linkages across areas of mutual interest.” The two foreign ministries held political consultations in Tashkent, Uzbekistan last week. The Sri Lankan delegation was led by ministry secretary Aruni Ranaraja, while the Uzbek delegation was headed by First Deputy Minister of Foreign Affairs of Uzbekistan Aloyev Bakhrom. Sri Lanka is interested in expanding its engagement with the Central Asian region, Ranaraja was quoted as saying, particularly with Uzbekistan, recognizing the country’s location as a vital link between Asia and Europe, its ongoing economic transformation, and its growing contribution to regional connectivity and integration. The consultations reviewed the status of bilateral relations, helped exchange views on matters of mutual interest, and identify new avenues for cooperation and partnership. Both sides highlighted trade, tourism, logistics, and education as key sectors with significant potential for cooperation. The two sides emphasized the need to diversify bilateral trade, increase trade volumes, and promote mutually beneficial investment opportunities. The two sides have commenced seasonal charter flights from Uzbekistan to Sri Lanka. Sri Lanka Tourism was invited to participate in the Tashkent International Tourism Fair, scheduled to be held in September 2026. Ranaraja also met Deputy Minister of Investment, Industry and Trade of Uzbekistan, Shokhrukh K Gulamov where both sides agreed to formulate measures to expand and diversify bilateral trade, particularly cooperation in apparel manufacturing, tea packaging, seafood exports, and the gem and jewellery industry. Ranaraja met Deputy Minister of Sports Avaz Karimov, Chairman and Adviser of the Chamber of Commerce and Industry of Uzbekistan Alisher Shaykhov, and Deputy Chairman of the Tourism Committee Sandjar Tadjiev, to discuss opportunities for further collaboration in sports, trade and investment, and tourism. The Second Round of Political Consultations is due to be held in Colombo in 2027. (Colombo/Jul13/2026)
Monday July 13, 2026 2:31 pm
Monday July 13, 2026 2:31 pm
ECONOMYNEXT – Sri Lanka’s private sector trade body has met Belarusian Ambassador Mikhail Kasko to discuss how closer private-sector ties could lead to more trade opportunities between the two countries. “Discussions explored sectors that can complement each other, including Belarusian expertise in sectors including machinery, agriculture and pharmaceuticals, alongside Sri Lankan strengths in apparel, tea, coconut products, spices and fresh produce,” the Ceylon Chamber of Commerce said. Ambassador Kasko also emphasised that direct air connectivity could increase tourism and strengthen trade in fresh produce, for which “there is immense potential”. Sri Lanka and Belarus signed several agreements on bilateral cooperation in health care and education, and a bilateral Air Services Agreement during Foreign Minister Vijitha Herath’s visit to the Eastern European country in May this year. The two countries commemorated the 25th Anniversary of the establishment of diplomatic relations last year. (Colombo/Jul13/2026)
Monday July 13, 2026 1:23 pm
Monday July 13, 2026 1:23 pm
ECONOMYNEXT – The Ceylon Chamber of Commerce’s National SME Forum 2026, Scale Up 2.0, will link Sri Lanka’s small and medium enterprises with key stakeholders and resources to overcome growth barriers, the trade body said. The forum will help SMEs face challenges in accessing markets, securing finance, meeting evolving business requirements and integrating into local and global value chains, the chamber said. “The forum will enable SMEs to engage directly with buyers, financial institutions, policymakers and business support organisations, helping them identify opportunities, access relevant resources and build the connections needed to strengthen their operations and grow their businesses.” The event brings together policymakers, business leaders, financial institutions, development partners, and small and medium enterprises (SMEs). It will feature a plenary on national priorities for SME development, followed by three technical sessions examining market access and value chain integration, standards and certification, and strategies for scaling mid-sized enterprises through improved investment readiness and access to finance. The forum will also include a B2B networking segment, enabling businesses to take the initiative by starting conversations, exploring partnerships, identifying financing options and accessing support services to help them address growth challenges. The event will take place on August 11 at the Taj Samudra, Colombo, under the theme “Connected, Competitive, Ready to Grow”. Registrations for the National SME Forum 2026 are now open. For registrations and further information, visit https://event.chamber.lk/event-register/486 or contact Nirosha – 0115588879 or Ravi – 0115588807 (Colombo/Jul13/2026)