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Egypt faces significant challenges due to disruptions in the Black and Red Seas, especially concerning grain imports and navigation through the Suez Canal. Amid a sharp decline in Egypt's wheat imports from Russia and Ukraine due to the war and the partial halt of export activities, Egypt has begun diversifying its import sources to Romania, Bulgaria, the United States, Canada, and Australia, despite rising shipping and insurance costs. Additionally, Egypt aims to strengthen its position as a logistical hub through land transportation and the development of storage services. The Suez Canal has experienced a noticeable improvement in ship traffic and revenues, with projections indicating revenues could reach between $5.8 billion and $6 billion this year, although the volume of traffic remains below pre-war levels on Gaza.
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