Saudi Arabia has achieved a major milestone as it jumps 17 places in the World Bank’s Logistics Performance Index, from rank 55th in 2018 to rank 38th in 2023.
Entitled ‘Connecting to Compete,’ the report, now in its seventh edition, attempts to rank 139 countries by their logistics performance in the first such survey to be published by the World Bank since 2018. The LPI rankings use several factors, including customs, infrastructure, international shipments, logistics competence and equality timeliness, and tracking and tracing, to derive a set of scores which are then aggregated into one headline number.
Saudi Arabia has seen its stock as a global logistics hub rise as it formulates plans for as many as 60 logistics hubs around the Kingdom, and contemplates wholesale upgrades of existing ports, as well as a number of greenfield facilities.
Identical rankings to Saudi Arabia were achieved by India, Lithuania, Portugal and Turkey, also all ranked 38-equal, with identical overall LPI scores of 3.4. The rankings were topped by Singapore, with a score of 4.2, with Finland coming second, also on 4.2 and Denmark third, with 4.1
“This progress came with the support of the Crown Prince and the ambitious goals of the National Strategy for Transport and Logistics Services,” said Minister of Transport and Logistics, Saleh Al-Jasser, in a statement carried by Saudi English-language daily, Arab News, on Sunday.
Imports to the Maldives from Saudi Arabia valued $7.15 million in 2022, which mostly included electric equipment, edible products, beverages, and pigments.