Vietnam jumps 25 levels in WB’s logistics performance index

Illustrative image (Source: VNA)

This is the best result of Vietnam since 2007 when the WB announced the ranking for the first time.

Representatives from the Ministry of Transport attributed the result to the improvement of the two indicators of “Logistics Competence” (up 29 levels) and “Tracking and Tracing” (up 41 levels).

The report states that among the lower-middle income countries, large economies such as India and Indonesia, as well as emerging economies such as Vietnam and Côte d'Ivoire, stand out as top performers by showing a significant jump to a higher rank.

The top five logistics performers this year are Germany, Sweden, Belgium, Austria and Japan.

Among Vietnam’s neighboring countries, Thailand is still ahead, ranking 32nd.

The LPI is the world’s logistics performance index released by the WB every two years. It is a unique benchmarking tool, providing the same measure for more than 160 countries.

It measures performance on trade logistics within a country based on six indicators, namely the efficiency of customs and border management clearance; the quality of trade and transport-related infrastructure; the ease of arranging international shipments with competitive price; the competence and quality of logistics services; the ability to track and trace consignments; and the frequency with which shipments reach consignees within the scheduled or expected delivery time.

The LPI is a crucial part of global efforts to better understand logistics performance in the context of increasingly complex supply chains.