WORLD BANK HAS RELEASED A REPORT ON THE LOGISTICS PERFORMANCE OF 139 NATIONS IN 2023

The World Bank released its 2023 Logistics Performance Index (LPI) report on Friday, which measures countries' capacity to transfer products across borders quickly and reliably.

The seventh edition of the LPI study, Connecting to Compete, arrives after three years of significant supply chain disruptions caused by the COVID-19 epidemic.

It assessed the ease of establishing supply chain links and the characteristics that make it feasible, such as the quality of logistics services, trade- and transport-related infrastructure, and border restrictions, across 139 nations.

According to Mona Haddad, Global Director for Trade, Investment, and Competitiveness, logistics are the lifeblood of international trade, and trade is a tremendous engine for economic growth and poverty reduction.

"The Logistics Performance Index helps developing countries identify where improvements can be made to boost competitiveness," Haddad added.

According to the latest data, the average period between the time a container enters the port of the exporting country and the time it leaves the destination port is 44 days.

Green logistics is in high demand, with 75% of shippers opting for ecologically friendly choices when exporting to high-income countries.

Christina Wiederer, Senior Economist and co-author of the paper, stated that while most time is spent in shipping, the worst delays occur at seaports, airports, and multimodal facilities.

The World Bank identified beneficial measures as improved clearance processes, infrastructure investment, digital technologies, adoption of less carbon-intensive freight modes, and more energy-efficient warehousing.