Egypt’s Suez Canal revenues surge 20.7% in FY2021/2022 – official

Egypt’s revenues from the Suez Canal reported a 20.7 percent year-on-year growth in revenues for the financial year 2021/2022 that ended last June, said the canal’s authority chairman Osama Rabie on Monday.

Revenues for the year had reached to $7 billion compared to a year earlier.

In 2021/2022, the vital waterway saw the highest and unprecedented levels in its history in terms of the revenues and the number of vessels passing by, Rabie said in a statement.

He added that 22,032 vessels flowed through the Suez Canal during the year, an increase of 15.7 percent compared to 19,047 vessels a year earlier.

Suez Canal also broke its highest yearly tonnage record with 1.32 billion tons in 2021/2022, a growth of 10.9 percent from 1.19 billion tons in 2020/2021, Rabie said.