Egypt Suez Canal’s Revenues up 8.9% yr/yr in April

Revenue from Egypt’s vital waterway Suez Canal surged 8.9 % to US$ 442.4 million in April from US$ 406.1 million in the same month a year ago, Egypt’s state information portal said on Monday.

March revenues stood at US$ 441.9 million.

The waterway, the fastest shipping route between Europe and Asia, is one of Egypt’s main sources of foreign currency.

Suez Canal Authority chief Mohab Memish told Reuters on May 6 that revenues in April had reached US$ 438.5 million.