Malaysia jumps 15 ranks in World Bank Logistics Index
26 Apr 2023
It was a major improvement from rankings of 41 in 2018 and 32 in 2016
Malaysia has jumped 15 ranks in the World Bank Logistics Performance Index (LPI) 2023 to 26 ranks, emerging as the second-best performing Asean country after Singapore.
It was a major improvement from rankings of 41 in 2018 and 32 in 2016. The statement said the last edition of the report was published in 2018.
“The best ranking Malaysia has attained was 25 in the World Bank LPI 2014 report,” Malaysia Productivity Corp (MPC) DG Datuk Abdul Latif Haji Abu Seman said in a statement.
The LPI report, the seventh edition of “Connecting to Compete”, comes after three years of supply chain disruptions during the Covid-19 pandemic and covers the latest view on trade logistics performance of 139 countries.
Abdul Latif said the LPI report is a benchmarking tool to help countries identify where improvements in international trade logistics can be made to increase competitiveness.
LPI measures the ease of establishing reliable and timely supply chain connections and the structural factors that make it possible, such as the quality of logistics services, trade and transport-related infrastructure, and border controls.
The latest LPI 2023 edition introduces a new set of key performance indicators, derived from a big data approach, measuring the speed of trade globally. The indicators are based on technological advances in tracking actual high-frequency international movements of maritime shipping, containers, air freight and postal parcels by trade lane and gateway, the statement added.
Source: The Malaysian Reserve