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Singapore ranked 5th in Logistics Performance Index

Delivering-Efficiency-for--Asia-Logistics-Industry-In-2016

Progress in logistics performance has slowed for the first time since 2007 for least developed countries, while ASEAN economies displayed a mixed trend, with some  countries backsliding in their overall logistics performance and others performing  above the regional average, according to the latest edition of the Logistics Performance Index, part of the bi-annual report published by the World Bank Group, “Connecting to Compete 2016: Trade Logistics in the Global Economy.

Top performing countries have remained relatively consistent since 2010, and include dominant players in the supply chain industry. Germany ranked first for the second time in a row, followed by Luxembourg, Sweden, the Netherlands and Singapore. Singapore was among the world’s Top 10 performers, ranking 5th overall, and topped the list of ASEAN countries.

“Moving and delivering goods is not only a private endeavor, but also a public policy concern. It is more than a service. It connects firms and people to markets. Efficient logistics and connectivity of international supply chains has a very high potential, to reduce trade costs and boost integration in regional and global value chains,” World Bank Group Trade & Competitiveness Global Practice Director Cecile Fruman said during a presentation of the report, held at the World Bank Group’s Singapore Hub for Infrastructure and Urban Development.

Singapore, Malaysia, Thailand and Indonesia all outperformed the East Asia & Pacific regional average; and Indonesia, Vietnam and the Philippines ranked among the top 10 in lower middle-income countries. However, all ASEAN countries except Singapore, Myanmar and Cambodia back slid in their 2016 rankings compared to two years ago.

On timeliness, the frequency with which shipments reach their destination within the scheduled or expected time, a key criteria impacting a country’s LPI performance, ASEAN countries scored higher than the overall average. Singapore had the largest improvement in the timeliness indicator, in 2016 compared to 2014, a testament to the service delivery performance in the sector here.

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