Sri Lanka has spent US$506.1 million on personal vehicle imports in the first seven months of 2025, compared to just US$34.8 million in the same period last year, reflecting a dramatic surge in demand, official data show.
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Sri Lanka has collected 129 billion rupees from excise duties from vehicles in the first half of 2025,
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The Government has generated Rs. 136 billion in revenue from motor vehicle imports between January and April 2025.This figure includes collections from Value Added Tax (VAT), Customs Duty, and Luxury Tax.
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The Ministry of Finance has issued a new gazette notification easing several more restrictions on vehicle imports, with effect from April 29, 2025.
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Sri Lankan President Anura Kumara Dissanayake stated that despite vehicle importers opening $350 million in Letters of Credit, the US dollar remains stable at around Rs. 300
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