Egypt's revenue from Suez Canal plunged sharply in 2024

Egypt's Suez Canal revenue plummeted by nearly two-thirds in 2024, reaching $3.991 billion, a sharp decline from $10.25 billion in 2023. This drop is attributed to regional conflicts, particularly Houthi attacks on ships in the Red Sea, which significantly disrupted maritime traffic. Consequently, the number of vessels passing through the canal decreased by 50%.

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