Page 27 - Demo

As a global trading hub, Hong Kong’s merchandise trade value is 330% of its value-added GDP, the highest proportion among global economies (Figure 11). On the other hand, Hong Kong’s logistics industry is not as outstanding, ranking in 12th place according to the World Bank’s Logistics Performance Index (LPI) in 2018, behind our rival Singapore in 7th place (Figure 12). The LPI takes into account six factors: Customs, Infrastructure, International shipments, Logistics competence, Tracking & Tracing, and Timeliness. A closer inspection of the categorical scoring revealed that Hong Kong is falling behind in terms of Infrastructure (the quality of trade and transport infrastructure), Tracking & Tracing (the ability to track and trace consignments) and Timeliness (the frequency with which shipments reach consignees within scheduled or expected delivery times).