Despite coronavirus, Suez Canal records high revenues
Despite the negative repercussions of the outbreak of the coronavirus on global trade, the Suez Canal took in $5.61 billion in 2020, its third-highest total ever.
CAIRO — Despite the negative effects and repercussions of the outbreak of the coronavirus on global trade, the Suez Canal recorded revenues of $5.61 billion in 2020 — the third-largest total in the history of the canal.
The canal recorded its highest revenues in 2019 with $5.8 billion, and its second-highest in 2018 with $5.7 billion. This raised questions as to how the canal achieved these revenues amid the difficult circumstances and whether or not it will be able to increase such revenues in 2021.
Suez Canal Authority Chairman Osama Rabie said last month that the canal had $5.61 billion in revenue in 2020 despite the difficult circumstances caused by the coronavirus pandemic.
He said 18,829 ships passed through the canal during this same year with a total net weight of nearly 1.17 billion tons, thus achieving the second-highest tonnage in the history of the canal after 2019. That year witnessed 18,880 ships with a total net weight of nearly 1.21 billion tons pass through the canal. The difference between the years was 51 ships and 38.1 million tons.
