Cairo – Egypt’s income from Suez Canal He immersed himself for almost two thirds last year, authorities said Wednesday, attributing the sharp fall to regional tensions and wars in the Middle East that have impacted traffic through the key river route.
The channel is an important source of foreign currency for the Egyptian government, with approximately 10% of world trade that flows through the river route in recent years.
The Suez Canal Authority, which directs the river route, said the channel generated an annual income of $ 3,991 billion in 2024, below a historical maximum of $ 10.25 billion in 2023, according to a statement published on its Facebook page.
Canal traffic has been interrupted significantly after Hutis rebels backed by Iran de Yemen Start with threaten maritime trade and go to vessels that go to Israel through the Suez Canal to press Israel to stop the war in Gaza, which began on October 7, 2023.
Between November 2023 and January 2024, The hutis went to more than 100 merchant ships With missiles and drones, sink two ships and kill four sailors. The rebels insisted that the attacks would continue while the wars continue and have devastated the shipment through the region.
According to the Egyptian channel authority, only 13,213 ships passed through the channel in 2024, marking a 50% decrease compared to the number of ships in 2023, when more than 26,000 ships passed.
Even so, the head of the Canal Authority, Osama Rabie, said the attacks challenge the region, but have not prevented Egypt from continuing to provide their navigation and maritime services in Suez.
The International Monetary Fund reported in March 2024 That the Suez channel trade decreased by 50% in the first two months of that year, compared to the previous year, citing attacks on ships in the Red Sea.
The government of the Egyptian President Abdel Fattaah El-Sissi in 2015 completed a significant expansion of the Suez Canal, adding a second shipping lane and allowing him to handle some of the world’s largest ships.
The channel, which connects the Mediterranean and the red seas, opened in 1869. It serves as a vital artery for global trade, a crucial link for oil, natural gas and load. The channel authority operates a system of convoys, which consists of one to the north and one south per day.
