Trade Pulse: Suez Canal revenues surge to LE26.7 Billion in June

CAIRO – 8 August 2023: Recent numbers issued by the Central Agency for Public Mobilization and numbers reveal a significant increase in Suez Canal revenues, a critical lifeline of world trade.

According to the data, the canal's earnings for the month of June increased to a significant 26.7 billion Egyptian pounds, representing a significant increase over the 12.3 billion Egyptian pounds recorded in the same month of 2022—an amazing increase of roughly 14.4 billion Egyptian pounds.

These figures underscore the dynamic transformation in Suez Canal revenues throughout this period.

The growth trajectory of the canal's earnings exhibited a consistent upward trajectory, with revenues reaching 13.3 billion Egyptian pounds in July of the previous year, followed by 14.2 billion in August, and a notable 13.3 billion in September. The upward trajectory persisted, with revenues further ascending to 14.3 billion in October.

November witnessed a significant leap, with revenues surging to 17.3 billion Egyptian pounds, and this momentum carried forward into December, registering an impressive 18.2 billion. As the new year unfolded, January recorded an ascent to 23 billion Egyptian pounds, followed by a commendable 22.7 billion in February.

In March, the canal's earnings continued their robust performance, reaching 25.7 billion Egyptian pounds. April followed with a noteworthy 27.9 billion, and May culminated in a striking 29.2 billion.

The consistent upward trend in Suez Canal revenues stands as a testament to Egypt's unwavering commitment to economic growth and resilience, even amid global challenges.

The canal's performance as a vital trade artery remains a cornerstone of Egypt's economic prowess, reinforcing its status as a strategic global hub.