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NEWS

Suez Canal revenues up to .1 billion from January to August

Cairo, Sep 22 (Prensa Latina) The revenues from Egypt's Suez Canal rose by 11.6 percent year-on-year to 4.1 billion dollars in the first eight months of 2021, an official Egyptian source reported on Wednesday.

Suez Canal Authority (SCA) Chairman Osama Rabie said in a communique that 13,317 vessels crossed the canal from January to August, an increase of 6.5 percent.

The increase in revenues came despite the effects of the Covid-19 pandemic on the world trade and the closure of the canal for six days in March due to a container ship accident, the text stated.

Built between 1859 and 1869, the 163-kilometer long Suez Canal is a man-made sea-level waterway, connecting the Mediterranean Sea to the Red Sea.

According to official data, 10 percent of the world trade volume passes through that man-made canal.

pgh/iff/ga/rob

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