Egypt reports around $10 billion in lost revenue from the Suez Canal due to regional tensions and disruptions in the Red Sea shipping lanes.

Egyptian President Abdel Fattah el-Sisi has confirmed that escalating tensions in the Red Sea and ongoing attacks in the region have caused significant disruptions to maritime traffic, resulting in approximately $10 billion in losses for the Suez Canal.

Sisi stated that security risks in the Bab el-Mandeb Strait and broader regional instability have sharply reduced vessel traffic through the canal. He noted that monthly losses reached around $800 million during 2025 and 2026, while annual revenues fell from $10.25 billion in 2023 to approximately $7 billion in 2024.

Officials reported that shipping traffic through the canal declined by 40–50 percent, as many shipping companies rerouted vessels via the Cape of Good Hope to avoid risks in the Red Sea corridor.

Sisi also highlighted that Egypt is hosting approximately 10.5 million foreign nationals fleeing regional conflicts, adding further pressure on the country’s economic resources and public services.

The developments come amid continued instability in maritime routes critical to global trade, with insurers and shipping operators reassessing risk exposure in the region. (ILKHA)