Suez Canal revenue fell to $ 5.72 billion

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Source: Reuters

The Egyptian Suez Canal Authority said, on Saturday, that the revenue of the channel decreased to $ 5.72 billion in the fiscal year 2019-2020 from $ 5.75 billion in the previous year.

The channel is the shortest shipping route between Europe and Asia and is one of the main sources of hard currency in Egypt.

Osama Rabie, head of the Suez Canal Authority, said in June that revenue fell 9.6% year-on-year in May, due to the impact of the Corona pandemic on global trade.