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Egypt's Suez Canal revenues rise 6.3% in September Y-O-Y

Suez Canal revenues are up year-on-year but have dipped 8% since August.
28.10.14 | Source: Ahram Online

Egypt’s revenues from the Suez Canal totalled $469.7 million in September, a 6.3 percent increase from the $442 million generated in September last year, according to Egypt's Information Portal (EIP).

The new figure also represents an eight percent drop from August's revenues of $510 million.

The number of vessels passing through the canal this September was 1,458, a three percent increase from 1,415 vessels in the same period a year earlier, showed the EIP data.

The artificial waterway which connects the Mediterranean and Red Sea is the shortest marine route between Asia and Europe. It is one of Egypt's main sources of foreign currency revenue, along with tourism and remittances from Egyptian expatriates.