Egypt’s Suez Canal revenues jump to $470.6 million in August

 

Egypt’s Suez Canal revenues climbed to $470.6 million in August, 5.1 percent higher than the $447.6 million registered in the same month last year, head of the Suez Canal Authority Mohab Mamish said on Thursday.

Receipts also rose for the second month in a row after registering $447.1 million in July and $427.2 million in June.

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

In August, 1,528 ships passed through the Egyptian waterway compared to 1,462 in the same month last year.

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