Currently, there is no gold-standard for spinal cord (SC) grey and white matter (GM/WM) quantification in multiple sclerosis (MS). In this work, the cervical SC of 24 MS patients and 24 healthy controls (HC) was scanned on a 3T MRI-system using averaged magnetization inversion recovery acquisitions. Manual segmentations were provided to train a “Multi-Dimensional Gated Recurrent Unit” neural network for subsequent automatic SC GM/WM/lesion segmentation. Accuracy of automatic segmentations was high and decreased in the order WM→GM→lesions and HC→MS. MS patients had reduced SC GM and WM compared to HC. Finally, SC GM, WM and lesions correlated with physical disability.