Sri Lanka Sees US $107 Million in Personal Vehicle Imports after Ban Lifted
- CNL Reporter
- June 2, 2025
- News
- Sri Lanka
- 0 Comments
Sri Lanka imported $107 million worth of personal vehicles in April 2025, following the lifting of an import ban two months earlier, official data revealed.
The easing of restrictions has contributed to a noticeable rise in overall imports, particularly investment goods, which reached $344 million—up by $115 million year-on-year. This figure includes $26.9 million worth of commercial vehicles.
Investment goods peaked near $400 million in December 2024, following central bank liquidity injections aimed at lowering interest rates, echoing patterns seen during previous economic crises. In 2021, when personal vehicle imports were banned, investment goods hit $4.46 billion, supported by heavy imports of building materials and machinery.
Analysts warn that liquidity injections allow banks to lend without deposit backing, risking currency depreciation. They argue that taxing or banning imports, especially amid rate cuts, is ineffective and that true reform lies in fixing the central bank’s flawed operational framework rather than imposing import controls.
