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FINANCIAL NEWS
Egypt’s Suez canal reports USD416m revenue in June
15 Jul 2012
(MENAFN) Egypt’s Suez Canal recorded USD415.9 million revenue in June, down from USD434.6 million in the previous month, Reuters reported.
This figure represents a USD30 million decline from USD445.2 million generated in the same month a year ago.
The waterway is a vital source of foreign currency in Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad.
Opened in 1869, the Suez Canal is an artificial sea-level waterway in Egypt which connects the Mediterranean Sea and the Red Sea, and it allows water transportation between Europe and Asia without navigation around Africa.
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