The Panama Canal brought a record $2.5 billion to the republic’s treasury – Kommersant

Over the past fiscal year (ended September 30), the government of Panama received $2.5 billion from the Panama Canal, reports Agence France-Presse. This is a record amount of profit received, despite the unprecedented drought this year.

About 6% of the world’s maritime trade volume passes through the Panama Canal. The Panama Canal Authority, which is responsible for its operations, receives revenue from tolls and services provided to ships passing through the canal.

The department’s revenue this year was a record $3.3 billion, up $319 million from the previous fiscal year. And despite the fact that the volume of cargo passing through the canal decreased by 8 million tons, to 510 million tons. The number of vessels traveling through the Panama Canal also decreased – from 13 thousand to 12.6 thousand. This is due precisely to drought and a drop in water levels in the canal, which is why the operator had to significantly limit vessel traffic – for the first time in all its years work. In the coming months, the canal authority will gradually increase the limit on vessel passage.

Kirill Sarkhanyants