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Egypt: Suez Canal revenue surges to $904.5 million at end of April 2023

In comparison to the same month in 2022 when it totaled $630.5 million, the Suez Canal’s revenue increased by almost $274 million at the end of last April, reaching $904.5 million. Since the Suez Canal is often regarded as the quickest shipping route between Europe and Asia, the Authority’s collection of tolls from different kinds of cargo and container ships serves as the country of Egypt’s main source of hard currency. The Authority’s navigation data indicates that the larger volume of vessels using the river over the previous month is what caused the increase in income in April. 2,298 ships altogether passed through the canal, up from 1,929 ships during the same time last year.

Link: https://www.egypttoday.com/Article/3/124231/Suez-Canal-revenue-surges-to-904-5-million-at-end

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