Suez Canal records highest ever annual revenue of $7 bn
- Date: 04-Jul-2022
- Source: Al-Monitor
- Sector:Financial Services
- Country:Egypt
Suez Canal records highest ever annual revenue of $7 bn
Egypt's Suez Canal Authority announced Monday an all-time revenue record, earning $7 billion during the last fiscal year following a series of toll hikes for vessels transiting the vital waterway.
Between July 2021 and June 2022 -- Egypt's fiscal year -- some 1.32 billion tons of cargo were shipped through the canal, Suez Canal Authority (SCA) chief Osama Rabie said.
The income is over a fifth higher than the previous fiscal year's $5.8 billion in transit fees, and the highest figure ever recorded.
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