World Bank rates Germany as most efficient for imports, exports

By: | at 08:00 AM | International Trade  

Germany is the world’s most efficient exporter and importer, the World Bank said on Thursday.

In its latest trade logistics score card, the World Bank ranked seven European economies among the top 10, along with the United States, Singapore and Japan.

Germany, the world’s third-biggest goods exporter, regained the top spot, which it last held in 2010. China, the world’s top exporter, was ranked at 28th. The study is conducted every two years.

The study, based on a survey of more than 1,000 logistics professionals, came as World Trade Organization members began implementing a deal to cut red tape by lowering trade barriers and speeding the passage of goods through customs.

A study by the Peterson Institute of International Economics estimated the agreement, reached in December, would inject $960 billion into the global economy and create 21 million jobs, 18 million of them in developing nations.

The study was based on factors including customs performance, infrastructure and timeliness of shipments. It relegated Singapore from the No. 1 position in 2012 to fifth place. It ranked Hong Kong, which was No. 2 in the last snapshot, at No. 15.

The World Bank said the downgrades were probably due to recent progress in Europe on addressing logistics rather than to a deterioration in performance in other countries.

The World Bank said Somalia had the lowest score. Low-income countries typically gained from improving infrastructure and basic border management, such as food safety controls, it said.

The top 10 countries were: Germany, the Netherlands, Belgium, the United Kingdom, Singapore, Sweden, Norway, Luxembourg, the United States and Japan. (Reporting by Krista Hughes; Editing by Amanda Kwan)


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