Deputy Minister of Economic Development Nishantha Jayaweera stated in Parliament yesterday that, following the relaxation of vehicle import restrictions, Sri Lanka has imported over 800,000 vehicles valued at more than US$ 3.8 billion.
The Deputy Minister noted that Letters of Credit (LCs) worth US$ 1.9 billion were opened during 2024 and 2025, while LCs worth US$ 1.69 billion were opened in 2026.
According to the Deputy Minister, more than 79,000 motor vehicles have been brought into the country so far this year. In addition, 12,000 vehicles used for commercial purposes, 3,148 buses and vans, 317,000 cars, and 40,000 three-wheelers have been imported.
Responding to allegations by the opposition that the country’s foreign reserves have depleted due to rising vehicle imports, the Deputy Minister stated that the government currently maintains foreign reserves of approximately US$ 6.9 billion, notwithstanding the expenditure incurred on vehicle imports.