Egypt Independent

Suez Canal May revenues up 1% year-on-year



Revenues from Egypt's Suez Canal rose 1 percent in May from a year earlier to $438.1 million, the State Information Portal said on Thursday.

In May 2012 the figure was $434.6 million, while in April 2013 it was $406.1 million.

The waterway is one of the country's main sources of foreign currency, along with tourism, oil and gas exports and remittances from Egyptians living abroad.

On May 1, Egypt raised the fees paid by ships passing through the Suez Canal in an effort to boost revenue as the economy struggles to fend off a currency crisis.