With $ 600 million already spent on vehicle imports so far in 2026, Sri Lanka is likely to spend more foreign exchange on vehicle imports in 2026 than initially anticipated, according to Central Bank of Sri Lanka (CBSL) Governor Dr Nandalal Weerasinghe.

Speaking at a media briefing on Monday (18), Governor Dr Weerasinghe stated that nearly $ 2 billion (b) had been spent on vehicle imports last year, exceeding the earlier projection of between $ 1.5 b and $ 1.7 b.

He noted that the higher import volume had also resulted in increased revenue for the Treasury through taxes and duties collected on vehicle imports.

He warned that if the current trend continues for the remainder of the year, total vehicle import expenditure could reach approximately $ 2.4 b by year-end, surpassing last year’s figures.

Dr Weerasinghe further said that the Ministry of Finance had projected lower vehicle imports in 2026 compared to the previous year, but current data indicates that imports may exceed those expectations.

However, he stressed that there is currently no indication that the increase in vehicle imports would negatively affect the Government’s revenue targets.