Vehicle Imports Drive Sri Lanka’s Revenue Surge as Government Collects Rs. 2.95 Trillion in Six Months

COLOMBO (News 1st); Sri Lanka’s decision to reopen the vehicle import market after several years has significantly boosted government revenue, with the latest data from the Ministry of Finance showing a sharp increase in state earnings during the first half of 2026.

According to Finance Ministry statistics, total government revenue and grants recorded between January and June 2026 increased by 27.1 percent compared to the corresponding period in 2025.

The data shows that total revenue and grants amounted to Rs. 2.956 trillion during the first six months of the year. This represents 55.8 percent of the government's annual revenue target of Rs. 5.3 trillion for 2026, indicating strong progress toward the year-end goal.

Excluding grants, government revenue alone rose by 27 percent, increasing from Rs. 2,321.7 billion during the first six months of 2025 to Rs. 2,954.2 billion over the same period this year.

The Finance Ministry data further highlights the continued dominance of indirect taxes on goods and services within Sri Lanka’s tax structure. Such taxes accounted for 60 percent of total government revenue during the first half of 2026.

Meanwhile, income taxes contributed 19 percent of total revenue, while taxes on international trade accounted for a further 13 percent.