Suez Canal Records Highest Ever Annual Revenue of USD 7 Billion
This year's gains constitute a jump of roughly 20% compared to USD 5.8 billion earned between June 2020 and June 2021.
The Suez Canal has recorded its highest ever annual revenue, having earned USD 7 billion during Egypt's previous fiscal year between June 2021 and June 2022. During that time the canal has seen around 1.32 billion tonnes shipped through it, which accounts for about 10% of global maritime trade.
This year's gains constitute a jump of roughly 20% compared to USD 5.8 billion earned between June 2020 and June 2021. The number of ships also increased by about 15.7% in the previous fiscal year, with 22,032 ships going through the canal in the 2021-2022 period compared to 19,047 ships in the 2020-2021 period.
The rise in revenue has been partly attributed to the increased use seen by the Suez Canal in the past fiscal year, as well as the rise in passage tolls for transiting vessels made by the Suez Canal Authority earlier this spring, and the change in global trade and prices in response to the Russian invasion of Ukraine.