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Monday, 01 May 2017

Egypt's Suez Canal generates $395.2 mln in January revenue

January’s receipts declined slightly compared to the month before when it increased to $414.4 million

Ahram Online , Saturday 25 Feb 2017
Cargo
A cargo ship makes its way along the Suez Canal (Photo: Reuters)
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Egypt's revenues from Suez Canal trade declined in January to register $395.2 million compared to $434.8 million in the same month last year, according to data from the Suez Canal Authority (SCA) published on the state-run Egypt Information Portal (EIP). 

According to EIP, 1,369 ships passed through the Egyptian waterway last month, compared to 1,414 ships in December and 1,411 ships in January 2016. 

January’s receipts declined slightly compared to the previous month, when it registered to $414.4 million. 

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

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