Middle East Economic Survey

VOL. LIII

No 4

25-Jan-2010

EGYPT

Suez Canal Authority Revenue Falls 20% In 2009

Egypts state-owned Suez Canal Authority (SCA) has confirmed that transit revenues through the Suez Canal fell year-on-year by 20.3% in 2009, reaching $4.3bn compared to $5.4bn in 2008. The authority sees economic factors rather than piracy in the Somali basin behind the reduced traffic. The main factor for the decline in last years revenues was the economic and financial crisis which began in...