Economy

Tourist arrivals exceed 900,000

Published

2 years ago

June 9, 2024

Sri Lanka Tourism surpassed the milestone of 900,000 tourist arrivals, fuelling optimism within the industry to meet year-end targets.

The accomplishment marks a striking growth, a milestone previously reached only in August of the preceding year. This landmark was achieved with the arrival of 3,374 tourists on 1 June, which pushed the cumulative figure to 900,153. It underscores the substantial progress made in the tourism sector, reflecting high interest and engagement with Sri Lanka as a favoured destination for travellers.

During the first five days of June alone, Sri Lanka welcomed 15,666 tourists, pushing the year-to-date (YTD) figure to 912,445 visitors.

For 2024, Sri Lanka Tourism Development Authority (SLTDA) forecasts 2.3 million arrivals and an income of $ 4 billion.

From 1 to 5 June, India, the UK and China emerged as the leading source markets. In addition, tourists were welcomed from Bangladesh, Australia, Germany, the US, Russia, Maldives and France.

Economy

Sri Lanka Secures US$695 Million IMF Tranche

Published

2 days ago

May 28, 2026

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Sri Lanka has secured another US$695 million from the IMF after the completion of the fifth and sixth reviews of the country’s reform programme.

The IMF says Sri Lanka’s reform performance remains “generally strong” despite global challenges, but warned that the Middle East conflict and Cyclone Ditwah pose risks to economic recovery.

Economy

IMF Says Sri Lanka’s Policy Framework StrongerThan In The Past

Published

3 days ago

May 27, 2026

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IMF mission chief Evan Papageorgiou painted a firmer, more confident picture of Sri Lanka’s economic policy framework as the Fund’s Executive Board prepares to consider the combined Fifth and Sixth Reviews of the country’s Extended Fund Facility (EFF) on Wednesday, 27 May.

“Sri Lanka’s reform program continues to move forward,” Papageorgiou said, stressing that “Sri Lanka’s policy framework today is considerably stronger than in the past.”

The IMF view, voiced at a critical moment for the island’s finances , frames the coming Board decision as a test of whether progress on macro stability, reserve rebuilding and investor confidence will translate into continued financial support.

The Executive Board’s decision could unlock the sixth and seventh tranches of the EFF, together worth about USD 700 million.

IMF mission chief Evan Papageorgiou said that the authorities’ recent progress in restoring macroeconomic stability and rebuilding reserves has been recognised by the public, investors and stakeholders.

Global shocks continue to pose renewed pressures, but the Fund emphasised that a stronger policy stance means Sri Lanka is better placed to navigate them.

Economy

Sri Lanka’s exports surpass US$ 5.7b in first four months of 2026

Published

5 days ago

May 25, 2026

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Sri Lanka’s total exports, comprising both merchandise and services, reached US$ 1,380.93 million in April 2026, recording a year-on-year growth of 6 % compared to April 2025.

According to provisional data released by Sri Lanka Customs, together with estimated figures for Gems & Jewellery and Petroleum Products, merchandise exports in April 2026 increased by 9.87% to US$ 1,063.77 million.

Earnings from services exports were estimated at US$ 317.16 million in April 2026, underscoring the growing importance of the services sector in driving Sri Lanka’s overall export performance.

On a cumulative basis, total exports for the period January to April 2026 are estimated at US$ 5,784.38 million, reflecting a growth of 4.3 % over the corresponding period in 2025.

Overall, the positive export performance recorded during the first four months of 2026 highlights the resilience of Sri Lanka’s external sector. Sustained export earnings, supported by stable merchandise trade and the growing contribution of services exports, indicate a steady and encouraging recovery trajectory for the Sri Lankan economy in 2026.