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Economy

Sri Lanka Customs exceeds first-half revenue target, collects Rs. 1.37 trillion

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The Sri Lanka Customs Department has generated Rs. 1.3737 trillion in revenue during the period up to June 30 this year, exceeding its revenue target for the first six months.

Economy

Sri Lanka named world’s best island destination for 2026

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Sri Lanka has been ranked the world’s best island destination to visit in 2026, according to the latest rankings released by international travel publication Big 7 Travel.

Sri Lanka secured the top spot among the 50 Best Islands to Visit, with the publication highlighting the country’s 833-mile coastline, picturesque central highlands, world-renowned tea plantations, rich cultural heritage and remarkable biodiversity as the key factors behind its ranking.

The report also noted that iconic attractions such as Yala National Park and Sigiriya, a UNESCO World Heritage Site, played a significant role in earning Sri Lanka the top position.

In a further boost for the country’s tourism sector, Unawatuna Beach was ranked 26th among the world’s 50 Best Beaches, according to the report.

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Economy

World Bank upgrades Sri Lanka to upper middle income status

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The World Bank Group has reclassified Sri Lanka as an Upper Middle Income country, moving it up from Lower Middle Income status following a reported 5% real GDP growth in 2025.

The classification change places Sri Lanka among economies with higher income levels, reflecting recent improvements in macroeconomic performance and growth momentum after a period of economic stress.

The World Bank Group uses four income categories to classify countries: High Income, Upper Middle Income, Lower Middle Income, and Low Income. These classifications are based on gross national income per capita and are updated annually.

Sri Lanka’s upgrade marks a notable shift in its economic standing within this global framework, following the rebound in growth recorded in 2025. 

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Economy

Coconut Export Revenue Up 21% Amid Shipping Disruptions

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The Coconut Development Authority says Sri Lanka’s coconut export revenue has increased by 21 percent during the first five months of this year compared to the same period last year.

Chairman of the Coconut Development Authority, Shantha Ranatunga said the increase was driven by the adoption of alternative export methods in response to Middle East conflicts that have disrupted key shipping routes.

He noted that exporters were encouraged to use air freight to export coconut and king coconut, helping maintain export volumes despite maritime transport challenges.

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