Egypt’s Suez Canal Revenue Rises 20.7% in 2021/22 to $7 Bln

A shipping container of the China Ocean Shipping Company (COSCO) moves through the Suez Canal in Suez, Egypt February 15, 2022. Picture taken February 15, 2022. (Reuters)

Egypt's Suez Canal recorded $7 billion in revenue for the fiscal year 2021/22, up 20.7% from a year earlier, Suez Canal Authority Chairman Osama Rabea said in a statement on Monday.

Egypt's fiscal year runs from July 1 to June 30.

The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government's main sources of foreign currency.