Saturday Sep 05, 2026
Saturday Sep 05, 2026
Saturday, 5 September 2026 00:30 - - {{hitsCtrl.values.hits}}
Sri Lanka Customs exceeded its August revenue target by 15.3%, while revenue for the first eight months of 2026 rose around 25% compared to the same period last year, official data showed.
Customs had set an August revenue target of Rs. 190.3 billion, but collected Rs. 219.3 billion for the month, surpassing the target by 15.3%.
Cumulative revenue for the first eight months of the year reached Rs. 1,852.5 billion, exceeding the target for that period by 28.5%.
Last year, Customs collected a record Rs. 2,551 billion in revenue, exceeding a revised target of Rs. 2,241 billion for the year and marking a 64.2% year-on-year (YoY) increase in revenue compared to Rs. 1,553 billion.
For 2026, Customs has set a revenue target of Rs. 2,207 billion, 13.5% lower than last year’s collection, reflecting an expected decline in car imports. Data shows the department has already achieved 83.9% of this year’s target within the first eight months.
The revenue jump is largely attributed to stronger enforcement, improved valuation practices, and a rebound in import volumes following years of contraction. Imports fell sharply after the 2022 economic crisis, as the country imposed restrictions to conserve foreign exchange. However, with reserves stabilising, import controls easing, and consumer demand steadily recovering, collections from import duties, excise, and other levies have risen accordingly.
Officials also credit tighter monitoring of under-invoicing and misdeclaration of goods for boosting state revenue.
Together, rising import activity, currency movements, and stricter enforcement have made Customs one of the Treasury’s top revenue sources in 2026, providing a critical cushion as the State works to meet fiscal targets under the IMF-supported program.
