Egypt’s Suez Canal revenue falls to $449 million in September

Suez Canal


Egypt’s revenue from the Suez Canal fell to $448.8 million in September from $462.1 million in August, the Suez Canal Authority said on its website.

The canal is the fastest shipping route between Europe and Asia and is one of Egypt’s main sources of foreign currency.

On Aug. 6, President Abdel Fattah al-Sisi inaugurated an $8-billion expansion of the canal that aims to double daily traffic by 2023 and increase annual revenues to more than $13 billion by 2023, from just over $5 billion in 2014.

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