The year 2021 was a great year for Egypt’s most famous trade route, with the Suez Canal recording revenues of $6.3 billion during 2021
The year 2021 was a great year for Egypt’s most famous trade route, with the Suez Canal recording revenues of $6.3 billion during 2021, marking the highest in its history, according to head of the Suez Canal Authority (SCA), Osama Rabie.
Revenues jumped by 12.8% in 2021, a climb of $720 million compared to the canal’s $5.6 billion in 2020, said Rabie, with the year also logging a record-breaking annual net tonnage of 1.27 billion tons (+8.5%).
Naval movement through the canal saw the transit of 20,694 ships from both directions, compared to the transit of 18,830 ships during 2020, with an increase of 10%.
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The Suez Canal saw revenues climb 2.2% to hit a record of $5.84 billion in its 2020/2021 financial year, and previously announced its highest monthly tonnage in its history with 112.1 million tons passing through the canal in October 2021, making 2020/2021 the canal’s best year so far.
Egyptian exports overall jumped by 24.5% in the last 10 months, with the local industrial sector accounting for 17% of GDP, explained Trade Minister Gamea in December.
Egyptian imports saw a 16% increase in the first 9 months of 2021, climbing to $61 billion from $52.2 billion in 2020’s first 9 months, while Egyptian imports climbed in September 2021 by 8.2% to reach $5.84 billion.
