Suez Canal revenues rise to $503 mln in May

A cargo ship passing through Suez Canal.(File photo: Reuters)

Egypt’s Suez Canal revenues rose to $503.13 million in May, up from $479.3 million in April, according to figures released by the head of the Suez Canal Authority, Mohab Memish.

Memish said revenues rose by $63.33 million last month compared to May 2017, an increase of 14.4 percent.

The Suez 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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Last Update: Wednesday, 20 May 2020 KSA 09:51 - GMT 06:51
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