Egypt's Suez Canal revenues up to $477.1 million in July

Ahram Online , Tuesday 22 Aug 2017

Suez Canal
A cargo ship is seen crossing through the New Suez Canal, Ismailia, Egypt (Reuters)

Egypt's revenues from Suez Canal trade increased in July, registering $447.1 million compared to $429 million the same month last year, according to data from the Suez Canal Authority published by the state-run Egypt Information Portal (EIP).

Receipts also rose from June to July, registering $427 million.

In May, receipts recorded $439 million. 

In July, 1,453 ships passed through the Egyptian waterway compared to 1,384 the month before, EIP stated.

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

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