The Philippines ranks 43rd out of 139 economies around the globe in the World Bank’s 2023 Logistics Performance Index as digitalization has been allowing over the past five years developing markets to shorten port times much more than developed markets.
The LPI measures the ease of establishing reliable 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 World Bank noted that the seventh edition of the LPI comes after three years of unprecedented supply chain disruptions during the COVID-19 pandemic, when delivery times soared. “The Logistics Performance Index helps developing countries identify where improvements can be made to boost competitiveness.”
The latest LPI shows that end-to-end supply chain digitalization, especially in emerging economies, is allowing countries to shorten port delays by up to 70 percent compared to those in developed countries.“While most time is spent in shipping, the biggest delays occur at seaports, airports and multimodal facilities,” World Bank senior economist Christina Wiederer said.
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