Sri Lanka expects 1.2-pct of GDP in taxes from vehicle imports

Published

12 months ago

February 21, 2025

Sri Lanka is expecting about 1.2 percent of gross domestic product in taxes from vehicle imports in 2025, Labour Minister and Deputy Finance Minister Anil Jayantha said.

Vehicle imports will also contribute to other economic activities he said.

Sri Lanka has budgeted total revenues to go up to to 4,960 billion rupees in 2025 (15 percent of GDP) from 4031 billion in 2024 (13.4 percent of GDP).

Tax revenues are expected to go up by up 885 billion rupees from 4,031 billion rupees (13.4 percent of GDP) to 4,590 billion rupees (13.9 percent of GDP).

In rupee terms 1.2 percent of GDP work out to about 396 billion rupees of projected gross domestic product.

Sri Lanka banned over 3,000 imports in 2020 as the central bank cut rates with inflationary direct and open market operations (money printing).

Sri Lanka records US$ 751.1 million in workers remittances in January 2026

Published

1 week ago

February 9, 2026

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Foreign worker remittances to Sri Lanka reached US$ 751.1 million in January 2026, marking a 31.1% rise from US$ 573.0 million in January 2025, the Central Bank of Sri Lanka (CBSL) said.

The robust start to 2026 comes after a record US$ 8.076 billion in total remittance inflows for 2025.

Nuwara Eliya Ranks Second on Agoda’s List of Must-Visit Hill Stations in Asia

Published

1 week ago

February 7, 2026

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Sri Lanka’s popular hill resort town Nuwara Eliya has been ranked second among Asia’s must-visit hill stations by digital travel platform Agoda, further strengthening the country’s appeal as a scenic travel destination.

Sri Lanka travel guide

Agoda featured Nuwara Eliya in a new travel list promoting highland destinations across Asia that offer cooler climates, natural beauty and peaceful surroundings for travellers seeking a break from busy city life.

Known as “Little England,” Nuwara Eliya attracts both local and foreign visitors with its tea plantations, colonial-era architecture, cool weather and scenic landscapes. Tourists frequently visit the area for its lakes, misty hills and opportunities for relaxation as well as outdoor activities.

Economy

Galle ranks fifth among top 10 honeymoon destinations for 2026

Published

4 weeks ago

January 20, 2026

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Galle has been placed fifth among the world’s top 10 honeymoon destinations for 2026 in the latest rankings released by Tripadvisor.

The ranking forms part of Tripadvisor’s Travelers’ Choice Awards Best of the Best 2026 and is based solely on the volume and quality of traveller reviews submitted over a 12-month period.

Tripadvisor said the list reflects destinations that consistently received strong feedback from honeymoon travellers worldwide.

Beach and island destinations dominate the upper end of the 2026 rankings. Bali secured the top position, followed by Mauritius and the Maldives, with St. Lucia ranked fourth. Galle placed fifth, ahead of several established long-haul honeymoon favourites.

Tripadvisor noted that Galle’s appeal lies in its blend of heritage and coastal experiences. Founded by the Portuguese in the 16th century, Galle Fort remains a key attraction, with preserved ramparts, historic buildings, and walkable streets.