Suez Canal’s revenues falls to $375.8 mln in Egypt last month

Egypt’s revenues from Suez Canal trade recorded a three-year low in February 2017, registering $375.8 million, according to data from the Suez Canal Authority published by the state-run Egypt Information Portal (EIP).

Earlier, the revenues stood $401.4 million at the same month in 2016.

In February 2014, Suez Canal receipts recorded $339 million in revenue.

In February of this year, 1,286 ships passed through the Egyptian waterway compared to 1,369 the month before, EIP stated.

Receipts declined slightly last month compared to January, when it registered $395.2 million.

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

Source: Ahram online