Customs revenue hits 96% of February target in 19 days

Monday, 23 February 2026 01:35 - - {{hitsCtrl.values.hits}}

Revenue collection by Sri Lanka Customs has reached 96% of its February target within the first 19 days of the month, underscoring strong import momentum and sustained enforcement gains.

Official data show Customs collected Rs. 159.5 billion by 19 February, against a monthly target of Rs. 165.9 billion.

The early performance follows an exceptional January, when revenue exceeded the monthly target by 45%, or Rs. 72.3 billion.

In cumulative terms, Customs has already achieved 17.8% of its full-year 2026 revenue target within the first 50 days of the year.

For 2026, the Department has set a revenue target of Rs. 2,207 billion, which is 13.5% lower than last year’s record collection, reflecting expectations of a significant decline in vehicle imports, traditionally a major contributor to Customs income.

In 2025, Customs collected a historic Rs. 2,551 billion, surpassing a revised target of Rs. 2,241 billion and marking a 64.2% increase over the previous year’s Rs. 1,553 billion.

Operationally, the Department has accelerated container clearance since December 2025 after severe weather disruption in November 2025 temporarily slowed port activity for several days. The rebound coincided with stronger December 2025 import volumes.

Officials attribute the sustained revenue momentum to tighter enforcement, improved valuation practices, and a recovery in import demand following years of contraction during the economic crisis.

The robust start to 2026 provides fiscal space at a time when revenue mobilisation remains key to macroeconomic stabilisation. However, industry analysts said the sustainability of the trend will hinge on import dynamics, particularly the pace of vehicle inflows and the durability of compliance improvements across key categories.