Sri Lanka Customs’ October revenue exceeds target by 4.9-pct

ECONOMYNEXT – Sri Lanka Customs exceeded its October target by 4.9 percent, while revenue in the first 10 months of 2026 jumped around 15.9 percent compared to the same period last year, official data showed.

Customs’ October revenue target was set at 193.3 billion rupees. However, the revenue-collecting body collected 202.7 billion rupees that month, exceeding the target, according to official data.

It also exceeded the cumulative target for the first 10 months by 27.5 percent, achieving 2,336 billion rupees.

Last year, Customs collected a record 2,551 billion rupees in revenue, exceeding a revised target of 2,241 billion rupees for the year and achieving 64.2% higher revenue than the previous year’s revenue of 1,553 million rupees.

Customs set a revenue target of 2,207 billion rupees for this year, 13.5% less than last year as it expects a significant decline in car imports. Data showed it achieved 8.3 percent more than this year’s target in the first 10 months.

Analysts expect the revenue collecting body to achieve fresh record high revenue this year, surpassing the last year’s one.

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 2022 economic crisis, 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/November 11/2026)