Oman climbs 11 places in WB logistics ranking

Date

7/4/2016 2:10:13 AM

(MENAFN- Muscat Daily) Muscat-

Oman has jumped 11 places in the World Bank ranking of global logistics performance, reflecting major improvements in logistics quality, customs, logistics infrastructure and competence.

According to the latest Logistics Performance Index (LPI) report, Oman is now ranked 48th globally as against the 59th spot it occupied in the previous report in 2014.

In 2014, Oman had an LPI score of 3.0, which increased to 3.23 in 2016. Germany topped the rankings for the third time with a score of 4.23, followed by Luxembourg, Sweden, the Netherlands and Singapore.

In the Middle East and North Africa region, Oman came in fifth, compared with seventh place in the 2014 ranking.

The UAE maintained its top ranking in the MENA region with a score of 3.94. It jumped to 13th place from 27th spot in the previous ranking. Among the other GCC nations, Qatar ranked 30th, followed by Bahrain (44th), Oman (48th), Saudi Arabia (52nd) and Kuwait (53rd).

According to the World Bank report, Oman''s overall score in 2016 was boosted by the country''s strong performance in logistics quality, infrastructure, improvements in customs and tracking and tracing system.

Oman''s ranking in logistics quality and competence jumped by 35 notches to 38th from 73rd in 2014, while the country jumped 23 places in logistics infrastructure to 34th from 57th two years ago.

The sultanate also registered major improvements in customs where it climbed to 61st from 74th in 2014, while for tracking and tracing it jumped to 57th place from 80th. However, in terms of international shipments, Oman''s ranking dropped from 31st two years to 40th place.

Oman''s logistics sector has received increased attention in recent years, given its importance in the promotion of the national economy. The sultanate has developed a strategic plan for the logistics sector as part of the Ninth Five-Year Plan (2016-20).

The World Bank report said that logistics performance both in international trade and domestically is central to the economic growth and competitiveness of countries, and the logistics sector is now recognised as one of the core pillars of economic development.

It said efficient logistics connects firms to domestic and international markets through reliable supply chain networks and help achieve higher level of productivity. Conversely, countries with low logistics performance face high cost, not merely because of transportation costs but also because of unreliable supply chains, a major handicap in integrating and competing in global value chains.

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