SUEZ CANAL PRODUCED A NEW REVOLUTIONARY AMOUNT OF USD 7.9 BILLION IN 2022
One of Egypt’s main economic drivers and sources of foreign exchange reserves, the Suez Canal generated record-breaking revenues of USD 7.9 billion this year, about USD 2 billion more than it did in 2021.
The waterway, which connects the Red Sea with the Mediterranean Sea, is used for about 12% of all global trade and is considered to be the most important and efficient navigational route connecting Africa, Asia, and Europe. It was utilised by nearly 23,000 ships in 2022 that transported 1.4 billion tonnes of cargo.
