With $5.84 Billion, Suez Canal Achieves Record Revenue

CAIRO,12 July (UrduPoint / Pakistan Point News - 12th Jul, 2021 ) :� Egypt's Suez Canal recorded the highest annual revenue in its history during the last fiscal year that ended last June, amid an improvement in navigation traffic.

Osama Rabie, head of the Suez Canal Authority, said in a statement on Sunday, that the world's most important shipping waterway recorded the highest annual revenue in its history at the end of June, with a value of $5.

84 billion, compared to $5.72 billion for the fiscal year 2019/2020.

Rabie said that maritime traffic through the canal improved significantly as of early 2021 to 9,763 ships, compared to 9,546 ships on an annual basis, with an increase of 2.3%.

About 12% of the total world trade passes through the Suez Canal which shortens the distance between east and west by 35% compared to the Cape of Good Hope route.