Suez Canal revenues record $442.8 mn in November

Ahram Online , Sunday 21 Dec 2014

Egypt's Information Service says Suez Canal revenues reached $442.8 in November almost unchanged from the same month last year

Suez Canal
A Container ship crosses the Suez Canal at Port Said (Photo: Reuters)

Revenues from the Suez Canal totalled $442.8 million in November, almost the same amount generated in November last year, according to Egypt's Information Portal (EIP).

The new figure also represents an 8.2 percent drop from October's revenues of $482.3 million.

The artificial waterway, which connects the Mediterranean and Red Sea, is the shortest marine route between Asia and Europe. It is one of Egypt's main sources of foreign currency revenue, along with tourism and remittances from Egyptian expatriates.

Egypt's net reserves amounted to $15.9 billion in November, according to the central bank. 


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