Egypt's Suez Canal registered revenue of $7.2 billion in its 2023/2024 fiscal year, compared with $9.4 billion in the 2022/2023 year, canal authority head Osama Rabie said in a statement on Thursday.
Since November, Houthi attacks have exacted an economic toll on global trade by forcing ship owners to route vessels away from the Suez Canal shortcut and toward the longer, more expensive route around Africa.
Rabie said the number of ships using the canal fell to 20,148 in 2023-24 from 25,911 the year before.
The Suez Canal is a key source of foreign currency for Egypt, and authorities have been trying to boost its revenues in recent years, including via an expansion in 2015.
