Egypt's Suez Canal Authority said yesterday that its revenue had surged in the first six months of 2008 to more than 2.6 billion dollars. ‘Canal receipts from January to end June reached 2.639 billion dollars (1.66 billion euros) which is a half-billion dollars more than for the same period last year,’ a Canal Authority official told AFP. He said the number of boats using the canal had risen to 10,497 from 9,800, adding this showed that ‘world commerce is in good health. In March, the authority raised fees for different classes of ship by an average of 7.1 percent.
With about 7.5 percent of world trade transiting the canal, which links the Mediterranean and the Red Sea, income from the waterway provides Egypt with its third highest source of foreign currency after tourism and remittances from Egyptians working abroad.
With about 7.5 percent of world trade transiting the canal, which links the Mediterranean and the Red Sea, income from the waterway provides Egypt with its third highest source of foreign currency after tourism and remittances from Egyptians working abroad.