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Sunday, May 16, 2021

Egypt .. Suez Canal revenues exceeded half a trillion pounds over 10 years

Data from the Central Agency for Public Mobilization and Statistics in Egypt revealed that the value of the Suez Canal revenues exceeded half a trillion pounds over 10 years to reach 575.2 billion pounds.

Statistics indicated that revenues recorded 91.7 billion pounds during the fiscal year 2019-2020, a decrease of 9% from the previous year.

The net tonnage of vessels transiting the Suez Canal reached 10.1 billion tons over 10 years, recording 1.2 billion tons during the past fiscal year, an increase of 3.1% over the previous year.

This picture taken on November 17, 2019 shows the Liberia-flagged container ship RDO Concord sailing through Egypt’s Suez Canal in the canal’s central hub city of Ismailia on the 150th anniversary of the canal’s inauguration. – One hundred and fifty years after the Suez Canal opened, the international waterway is hugely significant to the economy of modern-day Egypt, which nationalised it in 1956. The canal, dug in the 19th century using “rudimentary tools” and which links the Mediterranean to the Red Sea, was opened to navigation in 1869 and was expanded in 2015 to accommodate larger ships. (Photo by Khaled DESOUKI / AFP)

The number of vessels transiting the Suez Canal recorded 176.6 thousand vessels during 10 years, and statistics showed an increase in the number of ships during the fiscal year 2019-2020 to 19.3 thousand vessels, a rate of 4.5% over the previous year.

The average value of the Suez Canal revenues per day was 254.7 million pounds during the fiscal year 2019/2020, and the net tonnage of the vessels transiting the canal was 3.4 million tons, and the number of vessels transiting them reached 54 vessels during one day.

Source: “El yom Elsabea”

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