Sri Lanka is likely to spend more foreign exchange than initially expected on vehicle imports in 2026, Central Bank Governor Dr. Nandalal Weerasinghe said.
Speaking at a media briefing held yesterday (18), Dr. Weerasinghe stated that nearly US$2 billion was spent on vehicle imports last year, exceeding the previously forecasted figure of between US$1.5 and 1.7 billion.
The Central Bank Governor pointed out that nearly US$600 million has already been spent on vehicle imports in the first three months of 2026. However, he noted that due to the high import volume, the treasury has received increased revenue through taxes and duties collected from vehicle imports.
He warned that if the current trend in vehicle imports continues, total vehicle import expenditure could exceed last year’s figures and reach nearly US$2.4 billion by the end of the year.