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So reads a report by the World Bank titled Connecting to Compete Trade Logistics in the Global Economy. The report features the Logistics Performance Index , which ranks Germany as the world champion in logistics. The country scores even higher than it did the last time it topped the index, two years ago. Logistics connect sellers and buyers across the globe and provide companies with access to domestic and international markets. Related services influence the cost of goods and determine the competitiveness of economies.
Their integration in global trade and value chains adds value to the worldwide networks of procurement, production and distribution so important for job creation, national economic development and wealth.
In short, when logistics function as they should, they are the basis upon which economies are built. China moved from 28 in to 27 in Strong nations depend on and benefit from buying and selling in foreign countries. Competition is what drives them, collaboration is what helps a nation to capture its full potential. Globalization, logistics and trade have had a significant impact on global wealth levels. In , the Economist wrote that in 20 years nearly 1 billion people had been taken out of extreme poverty.
This reflected the entry of China, India and other developing countries into the global procurement, manufacturing and distribution system, as increasingly powerful players in the world economy. Still, many developing countries remain on the margins of world markets, requiring helping hands to improve their logistics capabilities. In , logistics performances converge at the top and the gap between high and low performers widens.
How fast the picture can change. The drop is largely driven by two factors: The online publication Supply Chain Digital writes: Logistically constrained countries — landlocked nations without direct access to the oceans and global waterways, for example — are regularly struggling with trade and transport facilitation and reforms. In high-performing nations, slower global trade after the global financial crisis, as well as environmental concerns, create a pressured environment for the logistics industry.
In the interests of economic inclusion and peace, all nations need to further advance trade and transportation facilitation, whether individually or collectively, while safeguarding the citizens against harmful activities. And indeed, reliability is more important than speed. And critical for reliability is efficiency at the borders. The current global trend towards disintegration, such as Brexit or the erection of fences at the Hungarian border with Serbia and Croatia, are not helping.
In economies where infrastructure and skills are no longer the key concern, governments might need to invest more money and time in explaining to the citizens the benefits of trade and logistics. How safe are supply chains from terrorist attack? Two wheels that show the changing shape of trade This is how technology is transforming logistics. The views expressed in this article are those of the author alone and not the World Economic Forum.
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