ECONOMYNEXT – Revenue collected by Sri Lanka Customs in the first 14 days of July accounted for over 65 percent of the month, official data showed, as the island nation is likely to outperform the target for the seventh consecutive month.
Customs’ July revenue target has been set at 192.4 billion rupees. But the revenue collecting body has already collected 125.2 billion rupees in the first 14 days of this month, official data showed.
The revenue collecting body has already exceeded monthly targets in the last six straight months and achieved 68.2 percent of this year’s target through July 14, official data showed.
Customs has been accelerating container clearance using digital scanning to reduce corruption and fast-track the clearance process.
Last year, Customs collected a record 2,551 billion rupees in revenues, higher than a revised target of 2,241 billion rupees for the year, achieving 64.2 percent higher revenue than the previous year’s revenue of 1,553 million rupees.
Customs has set a revenue target of 2,207 billion rupees for this year, 13.5 percent less than last year as it expects a significant decline in car imports.
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 economic crisis of 2022, 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/July 15/2026)
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