"Singapore tops global trade and logistics performance lists"

01.06.2012
Source: Asia One

Two recent lists compiled by the World Economic Forum (WEF) and the World Bank measuring the performance of global economies have named Singapore top of the pack.

 

The Republic was ranked number one in both the WEF's Enabling Trade Index (ETI) as well as the World Bank's Logistics Performance Index (LPI).

 

Out of 132 countries, Singapore was named number one on the ETI for having well-developed institutions, policies and services which facilitate the free flow of goods across borders.

 

 

Within the sub-indices of the ETI, it was also ranked number one for market access, border administration and transport communications infrastructure.

 

While other ASEAN economies like Malaysia and Indonesia also fared well with improvements in ranking, larger economies like the US and China saw a drop in their performances on the ETI.

 

Similarly, Singapore was also named the friendliest out of 155 countries in a worldwide survey of logistics operators on the ground.

 

Out of several components measured, it was ranked first for customs efficiency and timeliness of shipments.

 

The LPI measures quality and competence of core logistic service providers, which is a key indicator of the country's performance in trade facilitation.