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Record Revenue of USD 7.9 Billion Produced by Suez Canal in 2022
Over 23,000 ships crossed the Suez Canal this year
Dec 20, 2022
The Suez Canal is one of Egypt's primary economic engines and sources of foreign exchange reserves, and this year, it has produced a record-breaking revenue of USD 7.9 billion, almost USD 2 billion more than the revenue it produced in 2021.
The waterway, which spans the Red Sea and the Mediterranean Sea and is thought to be the most significant and swiftest navigational route between Africa, Asia and Europe, is used for around 12% of all global trade. In 2022, it was used by over 23,000 ships carrying 1.4 billion tonnes of cargo.
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