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Tangier Port Processes Grow by 23% in 2020

Cargo ships are pictured at the Tanger-Med container port in Ksar Sghir near the coastal city of Tangier, Morocco, June 26, 2019. (Reuters)
Cargo ships are pictured at the Tanger-Med container port in Ksar Sghir near the coastal city of Tangier, Morocco, June 26, 2019. (Reuters)
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Tangier Port Processes Grow by 23% in 2020

Cargo ships are pictured at the Tanger-Med container port in Ksar Sghir near the coastal city of Tangier, Morocco, June 26, 2019. (Reuters)
Cargo ships are pictured at the Tanger-Med container port in Ksar Sghir near the coastal city of Tangier, Morocco, June 26, 2019. (Reuters)

Moroccan ports handled a total of 81 million tons in 2020, an increase of 23 percent compared to the previous year.

A total of 5,771,221 TEU containers were handled at the Tanger Med port complex in 2020, an increase of 20 percent compared to 2019.

Recent activities at the port of Tangier Med have shown sustained growth throughout 2020, according to the Tanger Med Port Authority (TMPA). Tanger Med alone processed 47 percent of the total port tonnage of Morocco last year, making it the leading port on the Mediterranean.

Liquid bulk traffic grew by 26 percent compared to 2019, with total traffic of 7,968,485 tons of treated hydrocarbons. This is mostly due to bunkering activity by ships passing through the Strait of Gibraltar, which generated traffic of nearly 1.6 million tons.

As for solid bulk traffic, it recorded a total of 303,705 processed tons, an increase of 18 percent compared to the previous year, mainly thanks to the traffic of steel coils, wind turbine blades and cereals.

Despite COVID-19-induced difficulties, the Tanger Med port finished the year with international transport truck traffic similar to 2019, with 357,331 trucks passing through, mostly concerning the agro-food sector, TMPA said.

In addition, it noted that 358,175 new vehicles were handled at the two-vehicle terminals of the Tanger Med port in 2020, down 28 percent compared to last year.

This variation is explained by the drop in vehicle sales in Europe and by the slowdown in automobile production by Renault and PSA during the March-May period due to the COVID-19 pandemic.

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World Bank Warns that US Tariffs Could Reduce Global Growth Outlook

WASHINGTON, DC - JANUARY 16: Workers build risers in Freedom Plaza ahead of the Inauguration on January 16, 2025 in Washington, DC. US President-elect Donald Trump and Vice President-elect former Sen. JD Vance (R-OH) will be sworn in on January 20. Kayla Bartkowski/Getty Images/AFP
WASHINGTON, DC - JANUARY 16: Workers build risers in Freedom Plaza ahead of the Inauguration on January 16, 2025 in Washington, DC. US President-elect Donald Trump and Vice President-elect former Sen. JD Vance (R-OH) will be sworn in on January 20. Kayla Bartkowski/Getty Images/AFP
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World Bank Warns that US Tariffs Could Reduce Global Growth Outlook

WASHINGTON, DC - JANUARY 16: Workers build risers in Freedom Plaza ahead of the Inauguration on January 16, 2025 in Washington, DC. US President-elect Donald Trump and Vice President-elect former Sen. JD Vance (R-OH) will be sworn in on January 20. Kayla Bartkowski/Getty Images/AFP
WASHINGTON, DC - JANUARY 16: Workers build risers in Freedom Plaza ahead of the Inauguration on January 16, 2025 in Washington, DC. US President-elect Donald Trump and Vice President-elect former Sen. JD Vance (R-OH) will be sworn in on January 20. Kayla Bartkowski/Getty Images/AFP

The World Bank on Thursday warned that US across-the-board tariffs of 10% could reduce already lackluster global economic growth of 2.7% in 2025 by 0.3 percentage point if America's trading partners retaliate with tariffs of their own.
Such tariffs, promised by US President-elect Donald Trump, could cut US growth - forecast to reach 2.3% in 2025 - by 0.9% if retaliatory measures are imposed, the bank said, citing economic simulations. But it noted that US growth could also increase by 0.4 percentage point in 2026 if US tax cuts were extended, it said, with only small global spillovers.
Trump, who takes office Monday, has proposed a 10% tariff on global imports, a 25% punitive duty on imports from Canada and Mexico until they clamp down on drugs and migrants crossing borders into the US, and a 60% tariff on Chinese goods.
The World Bank's latest Global Economic Prospect report, issued twice yearly, forecast flat global economic growth of 2.7% in 2025 and 2026, the same as in 2024, and warned that developing economies now faced their weakest long-term growth outlook since 2000, Reuters said.
The multilateral development bank said foreign direct investment into developing economies was now about half the level seen in the early 2000s and global trade restrictions were five times higher than the 2010-2019 average.
It said growth in developing countries is expected to reach 4% in 2025 and 2026, well below pre-pandemic estimates due to high debt burdens, weak investment and sluggish productivity growth, along with rising costs of climate change.
Overall output in emerging markets and development economies was expected to remain more than 5% below its pre-pandemic trend by 2026, due to the pandemic and subsequent shocks, it said.
"The next 25 years will be a tougher slog for developing economies than the last 25," World Bank chief economist Indermit Gil said in a statement, urging countries to adopt domestic reforms to encourage investment and deepen trade relations.
Economic growth in developing countries dropped from nearly 6% in the 2000s to 5.1% in the 2010s and was averaging about 3.5% in the 2020s, the bank said.
It said the gap between rich and poor countries was also widening, with average per capita growth rates in developing countries, excluding China and India, averaging half a percentage point below those in wealth economies since 2014.
The somber outlook echoed comments made last week by the managing director of the International Monetary Fund, Kristalina Georgieva, ahead of the global lender's own new forecast, to be released on Friday.
"Over the next two years, developing economies could face serious headwinds," the World Bank report said.
"High global policy uncertainty could undercut investor confidence and constrain financing flows. Rising trade tensions could reduce global growth. Persistent inflation could delay expected cuts in interest rates."
The World Bank said it saw more downside risks for the global economy, citing a surge in trade-distorting measures implemented mainly by advanced economies and uncertainty about future policies that was dampening investment and growth.
Global trade in goods and services, which expanded by 2.7% in 2024, is expected to reach an average of about 3.1% in 2025-2026, but to remain below pre-pandemic averages.