Sri Lanka's taxes on goods and services (current LCU) was 1.42 trillion in 2023, the latest year in the World Bank's World Development Indicators. That is up 179.49% from 506.91 billion in 2013 (10.82% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 1.42 trillion | 2023 |
| Five years earlier | 1.06 trillion | 2018 |
| Ten years earlier | 506.91 billion | 2013 |
| Highest | 1.42 trillion | 2023 |
| Lowest | 31.39 billion | 1990 |
| Average since 2014 | 866.24 billion | 2014–2023 |
| First recorded | 31.39 billion |
What the numbers say
In 2023, Sri Lanka's taxes on goods and services (current LCU) rose 62.3% on 2022 (from 872.88 billion to 1.42 trillion).
Across the 30 yearly changes before that (1993 to 2022), the average change was +12% and a typical year strayed about 14.8% from that (the standard deviation). This year's change was 3.4 standard deviations above that average, so it was unusually large compared with the rest of the record.
On record, the biggest yearly rise was 62.3% in 2023 and the biggest yearly fall was 41.2% in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2014 to 2023 there is no clear straight-line trend: a straight line explains 20% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2023, Sri Lanka had the 6th highest value of the 16 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Sri Lanka in the 2023 ranking
- Cambodia — 2nd of 16: 10.87 trillion
- Kazakhstan — 3rd of 16: 6.05 trillion
- Côte d'Ivoire — 4th of 16: 2.44 trillion
- Iceland — 6th of 16: 486.56 billion
- Togo — 7th of 16: 452.67 billion
- Nepal — 8th of 16: 345.78 billion
What this measures
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).
All 34 values
| Year | Taxes on goods and services (current LCU) |
|---|---|
| 2023 | 1,416,758,630,450 |
| 2022 | 872,878,426,590 |
| 2021 | 643,086,143,023 |
| 2020 | 571,201,514,318 |
| 2019 | 971,822,175,184 |
| 2018 | 1,059,089,820,294 |
| 2017 | 1,023,695,825,724 |
| 2016 | 840,563,919,917 |
| 2015 | 724,281,558,603 |
| 2014 | 539,023,290,523 |
Taxes on goods and services (current LCU) in nearby economies
- Bangladesh — 1.47 trillion (2021)
- Bhutan — 9.84 billion (2020)
- India — 7.99 trillion (2022)
- Maldives — 9.14 billion (2021)
- Nepal — 345.78 billion (2023)
More public sector data for Sri Lanka
- Military expenditure (current USD) — 1.39 billion (2025)
- Military expenditure (current LCU) — 418.25 billion (2025)
- Military expenditure (% of GDP) — 1.31% (2025)
- Arms imports (SIPRI trend indicator values) — 11 million (2025)
- Military expenditure (% of general government expenditure) — 4.92% (2025)
- Net acquisition of financial assets (current LCU) — 234.09 billion (2023)
- Net acquisition of financial assets (% of GDP) — 0.85% (2023)
- Net incurrence of liabilities, total (current LCU) — 2.77 trillion (2023)
- Net incurrence of liabilities, total (% of GDP) — 10.07% (2023)
Reading data like this
Questions people ask
- What is Sri Lanka's taxes on goods and services (current LCU)?
- 1.42 trillion in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 1990?
- It is up 4,414% from 31.39 billion in 1990 (12.24% a year on average, compounded). The highest value was 1.42 trillion in 2023 and the lowest 31.39 billion in 1990.
- How does Sri Lanka rank?
- 6th highest of 16 economies with data for 2023.
- Is the latest change in taxes on goods and services (current LCU) unusual for Sri Lanka?
- In 2023, Sri Lanka's taxes on goods and services (current LCU) rose 62.3% on 2022 (from 872.88 billion to 1.42 trillion). Across the 30 yearly changes before that (1993 to 2022), the average change was +12% and a typical year strayed about 14.8% from that (the standard deviation). This year's change was 3.4 standard deviations above that average, so it was unusually large compared with the rest of the record.
Source
World Bank, World Development Indicators, indicator GC.TAX.GSRV.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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