According to the World Bank’s Logistics Performance Index1, Singapore is the best in the world in providing both competent and timely logistics services, and it comes in second in Asia. The logistics company in singapore is a cornerstone of the economy, having added S$6.8 billion2 and created over 86,300 jobs3 in 2018. It links vital links in the supply chain to improve local and international commerce.
Logistics firms have developed specialised expertise to serve vital sectors like the food and beverage industry, the healthcare and pharmaceutical sector, the oil and gas sector, the infrastructure and construction sector, the retail sector, the electronics and high technology sector, and the retail sector. In addition, they have implemented effective technical solutions for lean and productive supply chain management.
Is Singapore good for logistics?
As the top logistics centre in Asia for a decade running, Singapore provides unparalleled access to the rest of Asia and the globe. Singapore’s importance as a safe, highly efficient logistics and supply chain management centre has been bolstered by the exceptional growth in regional cross-border commerce and consumption. The majority of the world’s top 25 logistics companies are now headquartered in Singapore. A lot of them have established regional or worldwide HQ operations in that area.
How big is the logistics industry in Singapore?
The aerospace, electronics, healthcare, biopharmaceutical, construction, and retail industries are just few of the many that rely on the logistical assistance of the logistics business. In 2019, the logistics industry in Singapore contributed $6.8 billion, or 1.4% of GDP, through facilitating the movement of products and commodities via their respective supply chains. The efficiency, stability, and resilience of Singapore’s network have helped the country cement its position as a global logistics centre in the wake of the COVID-19 epidemic.