FINANCIAL CHRONICLE – Sri Lanka Customs has surpassed its revenue target for the first 23 days of February, according to official data. The target for February was set at 165.9 billion rupees, but collections have already reached 176.9 billion rupees, exceeding the target by 6.6 percent.

Since the disruption caused by the Ditwah devastation in November, which affected activities for at least four days, Customs has been expediting container clearance. This acceleration has been particularly notable amid higher imports in December.

Last year, Customs achieved record revenue of 2,551 billion rupees, surpassing the revised target of 2,241 billion rupees and marking a 64.2 percent increase over the previous year’s revenue of 1,553 billion rupees. For the current year, the revenue target is set at 2,207 billion rupees, which is 13.5 percent lower than last year’s target due to an anticipated decline in car imports. As of the first 53 days of the year, 18.6 percent of this target has been achieved.

The surge in Sri Lanka Customs revenue is attributed to enhanced enforcement, improved valuation practices, and a resurgence in import volumes following years of decline. The economic crisis of 2022 led to a sharp drop in imports as the country implemented restrictions to preserve foreign exchange. However, improved reserve stabilization, relaxation of some import controls, and a recovery in consumer demand have led to increased collections from import duties, excise, and other levies.

Officials also highlight that stricter monitoring of under-invoicing and misdeclaration of goods has further boosted state revenue. The combined impact of increased import activity, currency movements, and enhanced enforcement has positioned Customs as one of the leading revenue sources for the Treasury in 2025, offering crucial support as the state strives to meet fiscal targets under the IMF-supported program.

(Colombo/February 26/2026)