Suez Canal Revenues Fall

Egypt’s revenues from Suez Canal trade declined in January to register $395.2 million compared to $434.8 million in the same month last year, according to data from the Suez Canal Authority published on the state-run Egypt Information Portal, Ahram online reported.  According to EIP, 1,369 ships passed through the Egyptian waterway last month, compared to 1,414 ships in December and 1,411 ships in January 2016. January’s receipts declined slightly compared to the previous month, when it registered to $414.4 million. The canal, which is the fastest shipping route between Europe and Asia, is one of the country’s main sources of foreign currency.