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Egypt’s Suez Canal announces July revenue at $704 mln

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Egypt’s Suez Canal revenue reached $704 million in July, Canal Authority Chairman Osama Rabea said on Tuesday.

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

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Earlier this month, the Canal Authority had stated that the Suez Canal had recorded $7 billion in revenue for the fiscal year 2021/22, up 20.7 percent from a year earlier.

Egypt’s fiscal year runs from July 1 to June 30.

Read more: Egypt’s Suez Canal revenue up 20.7 pct in 2021/22 to $7 bln

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