The World Bank on Friday released its 2023 Logistics Performance Index (LPI) report, a measure of countries’ ability to move goods across borders with speed and reliability.
The seventh edition of Connecting to Compete, the LPI report comes after three years of unprecedented supply chain disruptions during the COVID-19 pandemic.
Covering 139 countries, it compared the ease of establishing supply chain connections and the factors that make it possible, like the quality of logistics services, trade- and transport-related infrastructure and border controls.
Global Director for Trade, Investment and Competitiveness, Mona Haddad said logistics are the lifeblood of international trade while trade is a powerful force for economic growth and poverty reduction.
“The Logistics Performance Index helps developing countries identify where improvements can be made to boost competitiveness,” Haddad added.
The new report found that on average across all trade routes, 44 days elapse from the time a container enters the port of the exporting country until it leaves the destination port.
The demand for green logistics is rising, with 75 percent of shippers looking for environmentally friendly options when exporting to high-income countries.
Senior Economist and the report’s co-author, Christina Wiederer noted that while most time is spent in shipping, the biggest delays occur at seaports, airports, and multimodal facilities.
The World Bank listed effective policies as clearance processes improvement, investment in infrastructure, digital technologies, adoption of less carbon-intensive freight modes and more energy-efficient warehousing.
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Source: dailypost.ng
