Jamaica climbs logistics index
Jamaica jumped 54 spaces in the 2014 World Bank's Logistics Performance Index, moving into the top half of the index.
Jamaica now ranks 70, just below the Dominican Republic at 69 and just above Peru at 71. Guyana now has Jamaica's former position of 124.
"Our performance in the 2014 Logistics Performance Index (LPI) is a major milestone for the country in our push to become a logistics-centred economy," said Anthony Hylton, minister of industry, investment and commerce, in his sectoral presentation in Parliament last week.
"We are no longer at the bottom of the table," Hylton said.
Jamaica received an overall LPI score of 2.84 - where one is the lowest possible score and five is the highest - with scores for the six sub-indicators ranging between a low of 2.72 for both 'logistics competence' and 'tracking and tracing' to a high of 3.14 for 'timeliness'.
"Jamaica has improved significantly in all six indicators," Hylton said.
"The world recognises that Jamaica is serious about becoming the fourth node in the global logistics network," he said, referring to the US$10b global hub programme that he leads.
The others are Rotterdam in Holland, Singapore in Asia and Dubai in the United Arab Emirates.
Holland has a LPI rank of No. 2 and a score of 4.05; Singapore ranks No. 5 with a score of 4.00 and Dubai is No. 27 with a score of 3.54.
Germany took first place from Singapore this year, with a score of 4.12.
As an upper-middle-income group country, Jamaica scores slightly above the average score of 2.82. But it falls well behind Malaysia with its rank of 25 and score of 3.59, the leading country for its upper-middle-income group, in all categories. In fact, Jamaica is not among the top 10 countries in that group.
Jamaica's move up the index is "unprecedented," Hylton said. "The world is prepared to back us, not just because Jamaica is one of the most admired places on Earth, but because they see win-win value propositions here in Jamaica."