Suez Canal Revenues at $5.4 billion
By Aiswarya Lakshmi
July 17, 2015
Suez Canal revenues reached $5.4 billion in the fiscal year 2014-15, with a $3.7 million increase compared to the fiscal year 2013-14, says Cairo Post.
This year’s revenues are the highest in the history of the canal with a slight increase than the previous year.
Suez Canal revenues reached $422.1mln in April, the cabinet-affiliated State Information Service (SIS) said, marking a $2mln increase compared to the Canal revenues in March which recorded $420.1m.
The total number of ships passing through the Suez Canal in April recorded 1,443 ships with net tonnage marking 81,586 tonnes, according to the Suez Canal Authority’s official statistics.
However, in March, 1,437 vessels passed through the canal with cargo amounting to 82,582 tonnes.
The Canal’s total revenues over the first seven months of the current fiscal year (FY) 2014-2015 has reached $3,267,3bn (EGP 24,929,4bn).
Between 1 July 2014 and 31 January 2015, almost 10,400 vessels crossed the canal waterway with 586.2m tonnes of cargo.
The statistics also showed that the Canal recorded its highest monthly revenues in its history last August, amounting to $510m.
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, along with tourism and remittances from Egyptian expatriate.
