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International

Suez Canal sees 50% dip in trade volume amid Red Sea attacks

March 12, 2024 Reprints

According to the International Monetary Fund, the Suez Canal witnessed a 50% year-on-year decline in trade volume in the initial two month of this year amid escalating attacks in the Red Sea by Yemen’s Houthi militants, gCaptain reported. The Suez Canal is the primary maritime route between Europe and Asia.

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Suez Canal sees 50% dip in trade volume amid Red Sea attacks

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