How does the Suez canal affect the world trade?

IN 1857, when the Turks captured the Byzantine Empire,they blocked the trade route from western countries to eastern countries. This trade route was only from theSuez Canal. So it caused a heavy declination in the trade and economy of western countries. It also led to finding ofr new trade routes to resourceful eastern countries.This was firstly fostered by the initiative of Vasco da Gama, who found out a sea.route from Portugal to India.