Egypt's Suez Canal Revenues Hit $6.3b in 2021 vs $5.6b in 2020

Ships are seen at the entrance of the Suez Canal, Egypt March 26, 2021. REUTERS/Mohamed Abd El Ghany/File Photo
Ships are seen at the entrance of the Suez Canal, Egypt March 26, 2021. REUTERS/Mohamed Abd El Ghany/File Photo
TT

Egypt's Suez Canal Revenues Hit $6.3b in 2021 vs $5.6b in 2020

Ships are seen at the entrance of the Suez Canal, Egypt March 26, 2021. REUTERS/Mohamed Abd El Ghany/File Photo
Ships are seen at the entrance of the Suez Canal, Egypt March 26, 2021. REUTERS/Mohamed Abd El Ghany/File Photo

Egypt's Suez Canal revenues hit an all-time high in 2021 of $6.3 billion, versus $5.6 billion in 2020, canal spokesperson George Safwat said on Sunday.

Some 20,694 ships transited the canal in 2021, against 18,830 in 2020, a 10% increase, he added.

Earlier in December, the Suez Canal Economic Zone signed a $2.6 billion contract to build a methanol plant at Egypt's Ain Sokhna port and industrial complex.

The project will be executed in two phases, with completion of the first by 2025 at an investment cost of about $1.6 billion.

The second phase, with an estimated cost of about $1 billion, is to be completed over a further three years.

Targeted production capacity for the first phase is one million tonnes of methanol and 400,000 tonnes of ammonia per year.



GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA
TT

GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA

Saudi Arabia’s General Authority for Statistics (GASTAT) said Thursday that the Industrial Production Index (IPI) statistics for November 2024 showed a 3.4% increase compared to the same month of the previous year.

This increase is driven by growth in mining and quarrying, manufacturing, water supply, sewerage, and waste management and remediation activities, GASTAT said.

Furthermore, the sub-index of mining and quarrying activity increased by 1.2%, and the sub-index of manufacturing activity increased by 7.2%.

The sub-index of electricity, gas, steam, and air conditioning supply activity recorded a decrease of 2.1%, and the sub-index of water supply, sewerage and waste management and remediation activities increased by 10.5%.

The IPI by main economic activities increased by 3.8% compared to the same month of the previous year, while the index of non-oil activities also increased by 2.4%.

GASTAT publishes the IPI monthly. It is an economic indicator that reflects the relative changes in the volume of industrial output. It is calculated based on the industrial production survey.