Egypt's Suez Canal sees highest revenues since opening

Ahram Online, Wednesday 2 Jul 2014

Over $5 billion in profits in 2013/14 fiscal year is most the canal has earned since it opened in 1869

Egypt
Egypt's Suez Canal (Photo:Ahram)

Egypt's vital waterway saw the highest annual revenue in its history in the fiscal year 2013/14, the Suez Canal's head said on Wednesday.

According to Mohab Memish, the Egyptian canal brought in a whopping $5.3 billion (LE37 billion), the highest revenues since its opening in 1869 and representing a 5.5 percent increase from the last fiscal year.

The artificial waterway which connects the Mediterranean and Red Sea saw around $5.2 billion in revenues during the fiscal year 2012/13, official data showed.

 

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