The Central Financial institution of Sri Lanka has revealed that expenditure on car imports has risen to just about US$3 billion following the removing of car import restrictions.
Automobile import expenditure amounted to US$2.04 billion in 2025, whereas expenditure in the course of the first quarter of this 12 months alone has reached US$613 million. Automobile imports had been suspended after 2019.
Greater than US$2 billion was spent on car imports in each 2015 and 2018.
The federal government regularly relaxed restrictions on motorcar imports, and by January final 12 months (2025), all remaining restrictions on non-public automobiles had been eliminated.
Nevertheless, the federal government’s consideration has now turned in direction of car imports because of the fast appreciation of the USA greenback in opposition to the Sri Lankan rupee.
President Anura Kumara Dissanayake not too long ago issued a warning at a District Coordination Committee assembly held in Kandy that restrictions on car imports might must be reintroduced.
In keeping with info launched by the Central Financial institution of Sri Lanka, the promoting fee of the USA greenback had risen to Rs. 331.1572 by final Friday (15).
In the meantime, the shopping for fee stood at Rs. 323.5345. Accordingly, the worth of the US greenback in opposition to the Sri Lankan rupee continues to rise quickly.
In keeping with Central Financial institution information, the Sri Lankan rupee depreciated by 3.6% in opposition to the US greenback in the course of the interval from 1 January 2026 to eight Could 2026.
Financial analysts state that world uncertainty has contributed to the strengthening of the greenback and the weakening of different currencies. Governor of the Central Financial institution, Dr Nandalal Weerasinghe, not too long ago said at a Central Financial institution occasion that Sri Lanka’s alternate fee had come below strain resulting from exterior shocks.
Authorities sources state that the Ministry of Finance is scheduled to debate this week whether or not car imports ought to proceed below the present circumstances.
In the meantime, car importers state that car costs may rise by round 10% within the coming weeks resulting from elements together with adjustments to the calculation of the Social Safety Levy on imported automobiles and the appreciation of the US greenback.
Accordingly, importers say the value of a Toyota Raize at present priced at round Rs. 14 million may improve by between Rs. 800,000 and Rs. 1 million, whereas a Toyota Yaris may rise by between Rs. 400,000 and Rs. 500,000.
They additional state that the value of a Honda Vezel may improve by round Rs. 1.2 million, whereas a Toyota Land Cruiser may rise by roughly Rs. 3 million.
Additionally it is reported that just about 10,000 imported automobiles are at present stationed inside the premises of the Hambantota Worldwide Port.
