Suez Canal Annual Revenue Reaches Record High of USD 6.3 Billion

The Suez Canal amassed USD 6.3 billion in 2021, the highest annual revenue it has ever seen. Along with an annual net tonnage of 1.27 billion, the canal was able to reach its highest numbers yet despite the negative effects of the COVID-19 pandemic on world trade.

The Suez Canal accounts for 12% of global trade, with 30% of all global container traffic passing through it. These ships come with around USD 1 trillion worth of goods overall.

2021 witnessed 20,694 ships passing the canal from both directions. Compared to 2020, which saw 18,830 ships, the canal saw an increase of 10% in traffic.

For 2022, there will be a set of new rules and regulations that will see the canal transformed into a ‘green canal’. The canal authority is currently studying how to provide incentives for the use of environment-friendly ships, and are exploring ways to use renewable energy in  monitoring stations and marine units.