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

Published

9 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’s domestic exports rise by 5.2%

Published

1 day ago

November 6, 2025

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The Central Bank of Sri Lanka (CBSL) reports that domestic exports of goods and materials have grown by 5.2% during the first nine months of this year, compared to the same period in 2024.

According to official data, export earnings for the period reached US$ 10,215.1 million, up from US$ 9,518.1 million recorded last year.

The increase reflects a steady improvement in the country’s export performance, supported by higher demand and stronger production across key sectors.

SriLankan Airlines group loses Rs10.7bn in three months, operating losses up

Published

4 days ago

November 3, 2025

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State-run SriLankan Airlines group has lost 10.7 billion rupees in the three months to June 2025, down from 12.9 billion rupees last year but operating losses had widened, despite improvement in traffic, a Finance Ministry report said.

SriLankan had posted revenues of 51.7 billion rupees, up 1.5 billion rupees in the June quarter, helped by high higher traffic volumes and a big improvement in load factor to 82.3 percent a from 74.8 last year.

The airline had carried more than one million passengers across 3,217 flights during the quarter, with traffic growing 23 percent, the report said.

But cargo revenue had declined 13 percent to 7.1 billion rupees, and other revenues had also fallen, bringing net traffic revenues to 62.7 billion rupees, down from 63.8 billion rupees last year.SriLankan Airlines group loses Rs10.7bn in three months, operating losses up

Economy

Sri Lanka is the second most expensive country in South Asia to live in

Published

5 days ago

November 2, 2025

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Sri Lanka is the second most expensive South Asian Association for Regional Cooperation (SAARC) country to live with cost of living for an individual being $506 or Rs. 153,899 excluding rent to live a comfortable life according to Numbeo, a user-generated cost-of-living statistics website.

According to the website for a family of four living in the city of Colombo, the monthly costs are Rs. 570,997 excluding rent to live comfortably. This includes the cost of childcare, groceries, outings, dining, school fees, house expenses, vehicle expenses etc.

Numbeo is the world’s largest cost of living database and a crowd sourced global resource for quality of life data. It provides insights into cost of living. According to the site Maldives is considered the most expensive SAARC country to live in comfortably with a cost of $840.4 per person.

Source – Dailymirror