Sri Lanka cuts daily vehicle imports spending to $3.9mn

Sri Lanka has managed to bring down its daily spending on vehicle imports to around US$3.9 million after introducing measures to curb import demand amid ongoing economic challenges, Deputy Minister of Finance and Planning Anil Jayantha Fernando told Parliament on Friday (12).

He said that under normal conditions in 2025, vehicle imports had averaged about US$5.27 million per day, while at one point spending had risen as high as US$6.8 million daily due to strong demand and uncertainty in the economy.

According to the Deputy Minister, the government responded with a series of controls, including appeals to limit vehicle imports and regulatory steps to manage the number of vehicles entering the country.

He noted that these actions have already shown results. During the first eight working days of June, excluding public holidays, Sri Lanka spent US$31.72 million on vehicle imports, averaging US$3.9 million per day—lower than initial government projections.

Fernando also pointed out that ongoing tensions in the Middle East are continuing to create external economic pressures, particularly affecting fuel prices and foreign exchange markets.

He cautioned that any further escalation of the conflict could increase pressure on Sri Lanka’s economy, especially in terms of import costs and demand for foreign exchange.