Sri Lanka has already spent nearly USD 600 million on vehicle imports in the first three months of 2026, raising concerns that annual expenditure could exceed earlier projections, Central Bank Governor Nandalal Weerasinghe said.

The Governor noted that if the current trend continues, total vehicle import costs could reach around USD 2.4 billion by the end of the year, surpassing last year’s figure of USD 2 billion.

He explained that vehicle imports in the previous year had already exceeded initial expectations, rising from an estimated USD 1.5–1.7 billion to about USD 2 billion by year-end.

Dr. Weerasinghe said that while the Ministry of Finance had projected lower vehicle imports for 2026 compared to 2025, recent data indicate a higher-than-expected import surge.

He added that approximately USD 600 million worth of vehicles were imported in just the first three months of 2026, suggesting continued strong demand if the trend persists.

Despite the rising import expenditure, he noted that government tax revenue targets do not currently appear to be at risk.

The Governor made these remarks during a media briefing held on Monday (18).