An all-time economic record in the Suez Canal
Doron Peskin, Middle East Expert 02.05.2022
Good news for Egypt.
Osama IV, chairman of the Suez Canal, announced today that its revenues in April were an all-time high of $629 million.
This is an increase of about 14% compared to April 2021.
Fees for certain types of ships were raised, among other changes.
In terms of ship traffic in the canal it recorded an increase of about 6% last month compared to April last year.
Revenue from the Suez Canal is an important component of Egypt's foreign exchange earnings along with gas exports, tourism revenue and transfers of Egyptian workers abroad.
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