Egypt's Suez Canal revenues rise to $458.2 million in February

Ahram Online , Sunday 1 Mar 2020

Suez Canal
A cargo ship passing through the Suez Canal (Photo: Suez Canal Authority website)

Suez Canal revenues increased to $458.2 million in February, up 5.6% from the corresponding month a year earlier, the Suez Canal Authority said on Sunday.

Revenues were $433.9 million in February. The rise is below the $497.1 million reported in January.

Traffic in both directions in February rose 12.7 percent year-on-year to 1,525 ships, authority chief Osama Rabie added in a statement on Sunday.

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

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