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Rabat – The Tanger Med Port finished the 2024 fiscal year with a revenue of MAD 11.23 billion ($1.212 billion), marking an increase of 12.3% compared to 2023.
The Tangier Med Group said the port reached a historic milestone in 2024 as it handled 10.24 million twenty-foot equivalent units (TEUs). With these figures, the port reaffirmed its standing as a regional hub and its role as a key platform for national imports and exports.
The statement described the port as the leading hub in the Mediterranean and Africa, recalling the latest ranking by Alphaliner, which placed the Moroccan port 17th worldwide.
Tanger Med Group operates 25 terminals for handling containers and bulk cargo through Marsa Maroc, which also celebrated a record-breaking year with 63.3 million tons handled. This represents an 11% increase compared to 2023.
The Group’s total cargo volume, including performances from the operator of the Tanger Med Port Complex and Marsa Maroc, reached 187 million tons and 11.33 million TEUs over the past year.
It also manages over 3,000 hectares of economic activity zones, hosting over 1,400 companies that are active in different key sectors like the automotive, aerospace, textile, agri-good, and logistics domains.
These sectors generated a total business volume of MAD 174 billion in 2024, creating over 130,000 job opportunities.
Annual growth recorded by the port has long been a concern for neighbouring countries, including Spanish media.
Several news outlets have shared concerns about the Moroccan port outperforming major international hubs in Spain.
In 2021, Spanish newspaper El País stressed the importance of Tanger Med Port, noting that its performance reflected a “negative” impact on Spanish ports.
“Spain has been losing ground since King Mohammed VI inaugurated this infrastructure in 2007,” El País wrote.
Several government reports from Spain also highlighted the Moroccan hub’s impressive performance.
One report in 2022 noted that Spanish port Algeciras risked losing up to 60% of its container shipments to Morocco’s Tangier Med Port.
