Egypt’s revenue from the Suez Canal fell in 2024

Egypt’s revenue from the Suez Canal fell by almost two thirds last year, according to officials earlier this week, saying that regional tensions and wars in the Middle East have impacted traffic through the key waterway. The Associated Press reports that the canal is a major source of foreign currency for Egypt and accounts for about 10% of world trade flowing through the waterway in recent years. According to a statement posted on the Suez Canal Authority’s Facebook page the canal generated an annual revenue of $3.991 billion in 2024, down from a historic high of $10.25 billion in 2023.