Improving resources and infrastructure have enabled Colombia to achieve 64th place out of 155 countries on a World Bank performance index.
The Logistics Performance Index (LPI) measures the weighted average of the country’s score on six key points, which are:
1. Efficiency of border control agencies
2. Quality of trade and transport infrastructure
3. Ease of arranging competitively priced shipments
4. Competence of transport operators and customs brokers
5. Ability to track and trace consignments
6. Timeliness of shipments
The measure, developed by the World Bank, indicates the relative ease and efficiency which products can be moved in and around a country.
“Clearly the indicators show that Colombia has improved,” said Sail Pineda, director of the Center for Competitiveness of the University of Rosario to newspaper El Espectador. “However, there are still many challenges and we hope the government’s policies for improvement help the country recover from a lag of nearly 15 years behind other countries like Chile and Panama.”
Singapore and Hong Kong are the highest ranked on the index with the U.S. taking 9th place. Colombia, with a score less than two-thirds as good as Singapore’s, ranked higher than Ecuador, Bolivia, Venezuela and Paraguay, yet still rated lower than Uruguay, Argentina, Mexico and Chile.