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Sunday, 19 November 2017

Egypt's Suez Canal revenues generate $414.4 mln in December

Ahram Online , Thursday 19 Jan 2017
Suez Canal
A cargo ship is seen crossing through the New Suez Canal, Ismailia, Egypt (Reuters)
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Egypt's revenues from Suez Canal trade slumped in December to register $414.4 million compared to $429.2 million the previous year, according to data from the Suez Canal Authority (SCA) published on the state-run Egypt Information Portal (EPI).

However, December’s receipts rose compared to the month before, when the revenue hit a 21-month low, recording $389.2 million.

According to EIP, 1,414 ships passed through the Egyptian waterway last month, compared to 1,366 ships passed in November of last year.

The canal is the fastest shipping route between Europe and Asia and is one of the country's main sources of foreign currency.

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