The 2023 Logistics Performance Index (LPI) report, which measures a country’s capacity to transport products across borders quickly and reliably, was issued by the World Bank on Friday.
The COVID-19 pandemic caused severe supply chain disruptions over three years before the seventh edition of the LPI report, Connecting to Compete, was released.
It assessed the ease of creating supply chain linkages and the elements that enable it, such as the standard of logistics services, trade- and transport-related infrastructure, and border restrictions, and covered 139 nations.
Logistics, according to Mona Haddad, global director for trade, investment, and competitiveness, are vital to global commerce, which itself is a significant driver of economic growth and the eradication of poverty.
“The Logistics Performance Index helps developing countries identify where improvements can be made to boost competitiveness,” Haddad continued.
According to the latest study, it takes an average of 44 days for a container to travel from the port of the exporting nation to the port of its final destination.
Seventy-five percent of shippers seek out ecologically friendly choices when exporting to high-income nations, indicating a growing need for green logistics.
The report’s co-author and senior economist, Christina Wiederer, stated that although shipping takes up the majority of time, the worst delays happen at seaports, airports, and multi-modal facilities.
Improved clearance procedures, infrastructure investments, digital technology, the use of less carbon-intensive freight modes, and more energy-efficient warehousing were among the beneficial strategies highlighted by the World Bank.
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