FINANCIAL CHRONICLE – Sri Lanka Customs has reported remarkable performance in March, surpassing its revenue target by 25.2%. The revenue collection for the first quarter of the year also exceeded expectations, achieving a 33.7% increase compared to the set goal, according to official statistics.
The revenue target for March was established at 180.4 billion rupees, but the Customs department managed to collect 226.4 billion rupees during the month. Furthermore, for the first quarter, the total revenue reached 677.3 billion rupees.
Since January, Customs has been expediting the clearance of containers, a response to disruptions caused by events in November that affected regular operations.
In the previous year, Customs achieved a historic revenue collection of 2,551 billion rupees, surpassing a revised target of 2,241 billion rupees and marking a substantial increase of 64.2% from the 1,553 billion rupees collected in the year prior.
For the current year, Customs has set a revenue target of 2,207 billion rupees, which is a 13.5% reduction from last year, anticipating a significant drop in car imports. Data indicates that in the first three months, Customs has already met 30% of this year’s revenue target.
The recent surge in Customs revenue can be attributed to enhanced enforcement measures, better valuation practices, and a recovery in import volumes after a period of decline. Following the economic crisis of 2022, imports had sharply decreased as the country implemented restrictions to safeguard foreign exchange.
However, with the stabilization of foreign reserves, the easing of some import regulations, and a gradual rebound in consumer demand, revenue from import duties, excise taxes, and other levies has increased significantly.
Officials have highlighted that stricter oversight of under-invoicing and misrepresentation of goods has further enriched state revenue. The combined impact of heightened import activity, currency fluctuations, and rigorous enforcement has positioned Customs as a crucial contributor to the Treasury’s revenue in 2025, providing essential support as the government strives to achieve its fiscal objectives under the IMF-supported framework. (Colombo/April 3/2026)
