Navigation statistics recorded total net tonnage for the fiscal year at 1.32 billion tons, up by 10.9% when compared to 1.19 billion tons during the 2020/2021 fiscal year
Fiscal year (FY) 2021/2022 saw the Suez Canal break its highest annual revenue record, hitting $7 billion with a growth of 20.7% compared to the previous FY’s $5.8 billion, explained Suez Canal Authority (SCA) chairman Osama Rabie in a statement today.
Navigation statistics recorded total net tonnage for the fiscal year at 1.32 billion tons, up by 10.9% when compared to 1.19 billion tons during the 2020/2021 fiscal year.
The SCA head added that the number of ships transiting the canal increased significantly during the last fiscal year, reaching 22,032 thousand ships, an increase of 15.7% over the previous fiscal year.
Rabie noted that these unprecedented records reflect the culmination of the authority’s marketing policies in attracting new shipping lines and partners.
Want to stay up to date with Trade news? Read the latest Egyptian trade news here
The Suez Canal is one of the world's most popular trade routes, known as the fastest and the most direct trade link between Asia and Europe, and is one of Egypt’s main sources of foreign currency.
