Suez Canal Records Highest Monthly Revenue at USD 629 Million

The Suez Canal recorded its highest monthly revenues with USD 629 million in April 2022, a 13.6% jump compared to USD 553.6 million in April 2021. The canal also recorded its highest monthly net tonnage, with 114.5 million tonnes - up 3.9% compared to 110.2 million tonnes last April. 1,929 ships crossed the canal both ways all through the month, a 6.3% increase from the 1,814 ships that crossed the canal the same time last year.

These record-breaking numbers reflect the success of the Suez Canal Authority in marketing to the shipping community, attracting new shipping lines, and adapting to global changes affecting the maritime transport industry.

Around 12% of global trade goes through the Suez Canal, serving as one of the biggest generators of foreign currency for Egypt.

Work is currently underway to expand the two-way segment of the Suez Canal by 10%, stretching it out from 72 kilometres to 82 kilometres, in order to allow a great number of ships to pass through more safely.