Suez Canal Authority revenues up by 2.7%

Suez Canal Authority revenues increased by 2.7 percent to hit 3,678.5 million SDR in 2015 compared to 3,590.7 million in 2014, according to a report on international trade indicators issued by the Cabinet Information and Decision Support Center.

The authority has also realized positive growth hitting 0.6 percent to reach 882.4 million SDR during the first quarter of 2016, compared to 876.7 million SDR in the same period last year, added the report.

Despite a slow economic growth of the world trade movement and backtracking of the Chinese economic growth along with decrease of oil and freight prices, world commodity trade movement is expected to increase at a rate of 2.8 and 3.6 percent in 2016 and 2017 respectively, added the report, indicating that this will be reflected positively on navigation in the Suez Canal.