The Suez Canal Authority announced that its revenues for the latest fiscal year ending last June increased by 20.7 percent to $7 billion.
This is stated in a statement released on Monday by the department, which clarifies that the channel’s revenues were recorded in the previous fiscal year (2020-2021) and amounted to $ 5.8 billion.
The statement quoted the head of the agency, Osama Rabi, as saying that the canal’s shipping statistics for the latest fiscal year 2021/2022 set new and unprecedented records in the history of the canal.
Rabi noted that “the total annual net tonnage of the canal is 1.32 billion tons, which is unprecedented, and the highest annual financial income of $7 billion.”
During the last financial year, 22,032 vessels crossed the canal compared to 19,047 vessels in the previous financial year, an increase of 15.7%.
Rabi stressed that the global crises “have proven beyond any doubt the leadership of the Suez Canal and its importance in ensuring the stability and sustainability of global supply chains as the fastest, shortest and safest navigation routes.”
Source: El Iktisad
