Sri Lanka Customs exceeded its monthly revenue target for the fifth consecutive month in May, beating the goal before the month was out, EconomyNext reported on Saturday, citing official data.
Customs’ May revenue target was set at Rs.187.8 billion. The agency had already collected Rs.100.1 billion in the first 26 days of the month, the data showed, putting it on track to comfortably surpass the target by month-end. The figure also lifts collections to 51 percent of this year’s full-year target of Rs.2,207 billion in the first 146 days — ahead of pace.
The Rs.2,207 billion annual target was set 13.5 percent below the 2025 outturn, reflecting an expected decline in car imports as duty schedules normalise. Customs collected a record Rs.2,551 billion last year, beating an upwardly revised Rs.2,241 billion target and lifting revenue 64.2 percent above the Rs.1,553 billion taken in 2024.
EconomyNext attributed the recent run to “stronger enforcement, improved valuation practices, and a rebound in import volumes after years of contraction.” Imports collapsed after the 2022 crisis when authorities imposed restrictions to conserve foreign exchange, but stabilised reserves, the lifting of certain import controls and a steady recovery in consumer demand have since fed import-duty, excise and levy collections. Officials say tighter monitoring of under-invoicing and misdeclaration has also added to receipts.
The fifth-month run extends the streak that began in January and includes February through April beats. Customs has been one of the Treasury’s most reliable revenue sources this year, providing a fiscal cushion as the government tracks targets under the IMF-supported programme. The agency has also been active at the airport, exceeding 64 percent of the May target within 18 days and seizing successive cigarette and gold shipments — including a Rs.31.4mn haul from 18 passengers on Friday.
Source: EconomyNext.
