Suez Canal generates $2 billion in revenue in five months

Data released by Egypt’s Central Agency for Public Mobilization and Statistics revealed that Suez Canal revenues rose to approximately $2 billion during the first five months of 2026, compared to around $1.6 billion during the same period in 2025. The report showed that the number of oil tankers transiting the canal in May increased by 20% year-on-year to 512 vessels, while the number of other ships rose by 11%, reaching 678 vessels.

The report noted that canal revenues reached approximately $415 million in May, a slight increase compared to April, marking the highest monthly level since February 2024. Revenues exceeded $400 million in both April and May, achieving a combined total of $825 million.

As part of the state’s efforts to protect the interests of Egyptians abroad and strengthen their ties to the homeland, Dr. Islam Azam, Chairman of the Financial Regulatory Authority, and Ambassador Nabil Habashi, Deputy Minister of Foreign Affairs and Head of the Egyptians Abroad Affairs, signed a memorandum of cooperation aimed at expanding the scope of insurance protection for Egyptians working overseas and maximizing their benefits from the coverage provided under the voluntary insurance policy designated for them.

Under the terms of the agreement, the amended insurance policy will include coverage for arbitrary dismissal, with compensation reaching up to 100,000 Egyptian pounds upon confirmation of employment termination and repatriation of the worker. It will also cover total permanent disability resulting from an accident with a benefit of 250,000 Egyptian pounds, as well as coverage for natural death or death resulting from an accident, which includes bearing the costs of repatriating the body to the homeland, for an annual premium of 400 Egyptian pounds.