FINANCIAL NEWS

Suez Canal revenues rise 10% in June

07 Jul 2010

(MENAFN) The Egyptian cabinet said in a statement that Suez Canal?s revenues rose 10 percent year-on-year to $383.7 million in June but fell from May, Reuters reported.

Some 1,482 vessels passed through the canal in June, up 5.8 percent from a year earlier, the Egyptian cabinet said, adding that non-oil vessel traffic declines 6.3 percent from May to 1,187 vessels.

It is worth mentioning that the Suez Canal is a vital source of foreign currency in Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad.

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