Thursday, March 30, 2023
News
NEWS HOME
»
PRN INDIA
Agility: Logistics Execs See 2023 Recession as "Likely" or "Certain"
  SocialTwist Tell-a-Friend  
   

Most still committed to net-zero, emerging markets plans despite bleak outlook

DUBAI, UAE, Feb. 7, 2023 /PRNewswire/ -- Nearly 70% of global logistics executives say they are bracing for recession amid higher costs, slowing demand, and ongoing supply chain disruption arising from China's battle to contain COVID, Russia's war in Ukraine, and the impact of climate change.      

 

Agility’s 2023 Emerging Markets Logistics Index

 

Ninety percent of the 750 industry professionals surveyed for the 2023 Agility Emerging Markets Logistics Index also say their shipping, storage and other logistics costs remain well above pre-pandemic levels of early 2020.

"Carriers and shippers are feeling the effects of higher energy prices, tight labor markets and broader inflation even though freight rates have fallen and ports have cleared cargo backlogs," said Agility Vice Chairman Tarek Sultan. "Three years after the start of the pandemic, there is still a lot of volatility in supply chains. Now there's fresh uncertainty as consumers and businesses pull back on spending and hiring."

The survey and Index are Agility's 14th annual snapshot of industry sentiment and ranking of the world's 50 leading emerging markets. The Index ranks countries for overall competitiveness based on their logistics strengths, business climates and digital readiness -- factors that make them attractive to logistics providers, freight forwarders, air and ocean carriers, distributors and investors.

China and India, the world's two largest countries, held their spots at No. 1 and 2 in the overall rankings. UAE, Malaysia, Indonesia, Saudi Arabia, Qatar, Thailand, Mexico and Vietnam rounded out the top 10. Turkey, No. 10 in 2022, dropped to 11th. No. 24 South Africa and 25 Kenya were highest among countries in Sub-Saharan Africa.

Arabian Gulf countries – UAE, Qatar, Saudi Arabia and Oman -- again offered the best business conditions. Malaysia, with the 4th best environment for business, was the only non-Gulf country in the top 5.  

China and India were tops for domestic and international logistics. India jumped four spots to No. 1 in digital readiness, followed by UAE, China, Malaysia and Qatar.

Farther down, there was more volatility in the rankings than in any prior year of the Index. Conflict, sanctions, political tumult, economic missteps and continued COVID fallout damaged the competitiveness of Ukraine, Iran, Russia, Colombia, Paraguay and others. Among countries leaping forward in certain categories: Bangladesh, Pakistan, Jordan, Sri Lanka and Ghana.

2023 Index Highlights

SURVEY

  • Net-Zero Commitment  â€“ 53% of logistics executives say their companies have committed to net-zero emissions, and another 6.1% say their businesses have achieved net-zero.
  • Climate Change  - Half say climate change is a concern their businesses must plan for, while another 18% say it is already affecting them.
  • Emerging Markets  â€“ 55% say they will be more aggressive in emerging markets expansion and investing or leave their existing plans untouched despite fears of recession.
  • Digital Forwarding  â€“ Respondents say the biggest advantage is improved tracking and visibility; the biggest disadvantage is error/exception management, respondents say.
  • Ukraine – 97% indicate that their businesses have been hurt by higher costs or other supply chain challenges as a result of the Russia-Ukraine conflict.
  • China  â€“ There is an even split between companies planning to reduce their reliance on Chinese sourcing and those planning to expand in China. But only 11% of respondents say their company's manufacturing footprint is the same as before COVID.
  • Gulf Economies  â€“ Innovation, technology and good conditions for small businesses are seen as the most important factors in lessening Gulf countries' reliance on oil and gas.
  • Africa – Logistics executives see big benefits for Africa from the African Continental Free Trade Agreement (AfCTA), despite slow implementation.

COUNTRY RANKINGS

  • In the Middle East and North Africa, overall rankings were: UAE (3); Saudi Arabia (6); Qatar (7); Turkey (11); Oman (12); Bahrain (14); Kuwait (15); Jordan (16); Morocco (20); Egypt (21); Tunisia (32); Lebanon (33); Iran (36); Algeria (41); Libya (50).
  • Rankings in Sub-Saharan Africa: South Africa (24); Kenya (25); Ghana (29); Nigeria (34); Tanzania (37); Uganda (43); Ethiopia (45); Mozambique (46); Angola (48).
  • Overall Index rankings in Asia: China (1); India (2); Malaysia (4); Indonesia (5); Thailand (8); Vietnam (10); Philippines (18); Kazakhstan (22); Pakistan (26); Sri Lanka (30); Bangladesh (35); Cambodia (38); Myanmar (49).
  • Rankings for Latin America: Mexico (9); Chile (13); Brazil (19); Uruguay (23); Peru (27); Colombia (28); Argentina (31); Ecuador (39); Paraguay (40); Bolivia (44); Venezuela (47).
  • In Europe: Russia (17); Ukraine (42).

Transport Intelligence (Ti), a leading analysis and research firm for the logistics industry, has compiled the Index since it was launched in 2009.

John Manners-Bell, Chief Executive of Ti, said "It is not possible to overstate the challenges faced by emerging markets countries in the past couple of years. Geopolitical tensions have combined with financial uncertainty and the lingering effects of the pandemic to create an ever more complex business and investment environment. The role that the Agility Emerging Market Logistics Index plays in providing insight into this volatile, uncertain environment landscape is more critical than ever."

2023 Agility Emerging Markets Logistics Index: agility.com/2023Index

About Agility
Agility is a global leader in supply chain services, infrastructure and innovation. It is a pioneer in emerging markets. Agility is a multi-business operator, with companies that include a logistics parks business that is one of the largest private owners of warehousing and industrial real estate in the Middle East and Africa, an aviation services company, a liquid fuel logistics business, and companies that offer customs digitization, remote infrastructure services, ecommerce enablement and digital logistics, and commercial real estate and facilities management. Agility is also an investor in innovation, sustainability and resilience, with a growing portfolio of listed and non-listed investment partners looking to reshape their respective industries across a range of sectors.  

For more information about Agility, visit:

Website: www.agility.com
Twitter: twitter.com/agility  
LinkedIn: linkedin.com/company/agility
YouTube: youtube.com/user/agilitycorp

Photo - https://mma.prnewswire.com/media/1994924/Agility.jpg
Logo - https://mma.prnewswire.com/media/1739997/Agility_Logo.jpg

 

Agility Logo

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/agility-logistics-execs-see-2023-recession-as-likely-or-certain-301738501.html

More News by PR Newswire India

CGI is Great Place to Work-certified™ in India

This Summer, Platinum Guild International (PGI) India, offers a stunning collection of platinum jewellery by PLATINUM EVARA

Black & White Ginger Ale by Diageo Sets Up A 'Table for Everyone' - Encourages Varied Perspectives, Fosters Inclusion, Ignites Meaningful Conversations

Dow Launches New Digital Coatings Formulation Platform: Paint Vision

Vymo recognized in the 2023 Gartner® Market Guide for Sales Engagement Applications

CDNetworks and VSTV K+ Partner to Elevate the Experience of Premium OTT Services in Vietnam

Zimmer Biomet's ROSA HIP with ONE Planner Hip Awarded Orthopaedic Product Innovation of the Year by Healthcare Asia Medtech Awards 2023

Prime Focus Technologies launches CLEAR® AI Reframe and enhances CLEAR® AI Discover with Chat GPT

Axi extends multi-year partnership deal with Man City

Hevo Data Strengthens Data Integration Offering with Google Cloud Ready - BigQuery Designation

ProWein 2023: Wine of Moldova Commits to Go Sustainable

Adriel to Power AdOps Marketing Solution for LG Electronics

Tony Robbins To Close the Global PRIORITY Summit Held by FII Institute

Continuous evolution key to successful organizational transformation, says MIT Technology Review Insights report

AlgoKit Introduces Web2 Developer Experience for Building Web3 Applications on Algorand

Neo4j and Google Cloud Extend Strategic Partnership With New Native Integration to Google Cloud's BigQuery Cloud Data Warehouse

Starburst Achieves Google Cloud Ready - BigQuery Designation

IMA Student Leadership Conference in New Delhi Focuses on Engaging Gen Z on the Future of Finance

TO CELEBRATE THIS SUMMER WEDDING SEASON, PLATINUM GUILD INTERNATIONAL (PGI), INDIA, OFFERS STUNNING PLATINUM LOVE BANDS BY PLATINUM DAYS OF LOVE

Sai Life Sciences and NIIT Foundation partner to create livelihood opportunities for underserved communities in Hyderabad

This summer, Platinum Guild International (PGI), India launches an exclusive collection of statement pieces from Men of Platinum

Accops recognized in the 2023 Gartner® Market Guide for Desktop as a Service

BitKeep 2023 Roadmap Reveals Its Plan to Rebrand as Bitget Wallet and Strengthen Security

The Passport Index points to declining fortunes for Asian superpowers India and China

Great Place To Work India and HDFC ERGO come together to drive the movement of 'Making India a Healthy Place to Work For All'

NetEase announces "Lord of the Rings" Game Fanfiction Contest

Shoolini Engineering Earns High SCImago Rankings

Advertising legend Raj Kamble is the only Indian Nominee at Campaign's Global Agency of the Year Awards 2023 list

MIT Technology Review Examines the Emergent Industrial Metaverse with Siemens AG

BRITISH VIRGIN ISLANDS COMPANIES SUPPORT 2.3M JOBS AND GENERATE US$14BN IN TAX REVENUES GLOBALLY

Teleperformance launches its futuristic new site in Hyderabad

A Resolution through Farmer's Training on the Water Crisis Management in Agrarian India

E Ink Teams up with Indian Tech OEM SuperUs to Drive Localization in India

Valuebound Attains AWS Advanced Consulting Partner Status, Offering Expert Cloud Migration Services

SafeHouse Tech launches SafetyScore to assess user's safety online

Mentoria Partners with Governments and Foundations to Make India #CareerReady

People in Asia seek to extend health span for longer, healthier retirement, Manulife survey shows

Omdia: Samsung leads while BOE increases small medium AMOLED shipment market share in 2022

BMO Recommends Shareholders Reject TRC Capital's Below-Market "Mini-Tender" Offer

APPTIO INDIA LLP Is Great Place to Work Certified for Second Year

BETT 2023: ViewSonic to Debut Expanded EdTech Solutions Across UNIVERSE Virtual Campus and myViewBoard Ecosystem

LE DU IN BANGKOK CLAIMS NO.1 SPOT AT ASIA'S 50 BEST RESTAURANTS 2023

MNCs View CIIE as Launch Pad into Chinese Market

Kivu Consulting, Inc. announces strategic partnership with Microsoft

Argentina's Minister of Economy Sergio Tomás Massa and Top Silicon Valley Investors Marc Andreessen and Ben Horowitz to Speak at PRIORITY, Powered by FII Institute

Kixx Aims to Become Top Lubricant Brand Around the World, Highlighting Its Advanced Industrial Lubricants

Movable Ink Launches New Mobile Suite to Help Brands Worldwide Better Engage Customers on Their Channel of Choice

BIMINI HEALTH TECH ACQUIRES EXCLUSIVE LICENSE TO ACELLULAR DERMAL MATRIX PRODUCT PORTFOLIO

VCTI Announces Appointment of Scott Widham to Board of Directors

Lacework Marries its Global Partner Ecosystem with the Cloud Security Needs of Customers

Sennheiser Profile USB microphone provides ease of use and best-in-class audio

IBM Brings Generative AI Commentary and Hole-by-Hole Player Predictions to the Masters Digital Experience

Kohler Presents 'The Creator's Journey' at Milan Design Week

Omega Seiki Mobility (OSM) partners with cKers Finance to provide retail finance for electric three wheelers

AV-Comparatives awarded best-performing IT security software at Hasegg Castle / Royal Mint in Hall, Tyrol

Colgate-Palmolive promotes 'Innovation in Oral Health' in association with Indian Dental Association

Allstate India Named One of India's 40 Best Workplaces in Health and Wellness 2022 by Great Place to Work® Institute

Yokogawa Releases OpreX Asset Health Insights with Enhanced Functionality and Alibaba Cloud Support

STL's optical products testing labs rated highest on stringent quality standards set by NABL and TEC

2023 Africa Wealth Report Reveals 'Big 5' Host 56% of Continent's Millionaires

Scharf Investments Global Equity Strategy Awarded Mandate from a Key Nordic Pension Fund

Medanta Gurugram recognized as the Best Private Hospital in India Fourth Time in a Row

Hexaware's Vikash Jain Honored at ASSOCHAM Vibrant Bharat CFO Summit & Awards and CFO100 2023 Programme for Outstanding Financial Leadership

VdoCipher Video Player Powers 3,000+ Platforms across 120+ Countries

UST's CSR Initiatives Recognised at 2023 KMA Awards

Amway Applauded by Frost & Sullivan for Capitalizing on Innovative Competitive Strategies to Drive Differentiation in Its Home Water Treatment Solution in APAC

Colliers expands capital markets & investment business across asset classes

PR Newswire Sees 7% Growth in Asia-Pacific Release Distribution

QSnatch infections are the leading cause of malicious DNS traffic in Asia Pacific, according to latest findings by Akamai

KPG Roofings Opens Its First roof tile Showroom in Hyderabad and 40th showroom in India

Otr Elkalam: In the world's largest religious competition - A Saudi Opera Singer Eliminates a Voice Coach

The Organizing Committee of Memorial Ceremony to Ancestor Huang Di in his Native Place Held its Press Conference in Beijing

Aramco to expand presence in China by acquiring 10% stake in Rongsheng Petrochemical

BNI® TO HELP ITS MEMBERS DOUBLE VALUE OF THEIR BUSINESS

Syndigo Announces Additional Generative AI Capabilities to its Client Platform

2026 All-Time High in Store for Global 300mm Semiconductor Fab Capacity After 2023 Slowdown, SEMI Reports

Tata Communications brings JAMVEE™ - an integrated, simplified cloud-based calling solution for global enterprises

38th Annual World Petrochemical Conference: Wanhua Chemical Shares Inspiring and Insightful Practice on Sustainability in Petrochemical Industry

CONNECTING BUYERS, SELLERS TO $1 TRILLION M&A MARKET WITH NEW DEAL DISCOVERY SaaS SOLUTION

Shipping industry can save $50 bn through four enablers of operational efficiency

LyondellBasell and EEW sign LOI for potential advanced waste sorting

Armis Achieves U.S. Department of Defense Impact Level 4 Authorization

The Second International Forum on "Democracy: The Shared Human Values" kicked off in Beijing

Bitget Becomes the First Centralized Exchange to Offer Financial Transparency Through Space and Time

Forever New Launches Exquisite SS23 Collection Featuring Pooja Hegde

Transparent & good governance, inclusive Growth and opportunities for all mark the emergence of New India under the leadership of PM Narendra Modi says Union MoS Rajeev Chandrasekhar

Inkspell set to organize the Video Media (vIdea) Awards & Summit 2023 on 27th April

Indian Low-voltage Switchgear Market Witnesses Surge Due to Pent-up Demand and an Increase in the Average Price

Aramco JV HAPCO to commence construction of major refinery and petrochemical complex in China

GCL System Integration Brings N-Type Innovation TOPCon and Latest BIPV Products to PV EXPO 2023

Aditi Mittal, Director at IndiaBonds and A. K. Group wins Times 40 Under 40 Award

Beamery Announces TalentGPT, the World's First Generative AI for HR

Appian appoints Douglas Coleman as Head of Mexico

Measure the Impact of Mantras on the Brain with the Sadhana app

International Aluminium Institute launches Aluminium Forward 2030 Coalition

Bharat KYC secures 'Fastest eKYC' and QuantPower bags 'Best Algo Trading Platform' Award from NITI Ayog Advisor & Bollywood Diva Bhagyashree

Transcoding and Content Security Workflow Simplified: INKA Entworks's PallyCon and Dolby Hybrik Join Hands for an Integrated Solution

ESG practices towards transformative change for a more sustainable world

Making Open Source Truly Open

The 3rd Conference of Great Business Partners to be held in Shandong

New Cryptocurrency BASALTCOIN set to Launch with a Mission to Revolutionize the Greentech Industry

CGTN: How China keeps its promise to build a community of common health for mankind

CGTN: Analysis: China's economic resilience boosts global recovery prospects

YourStory's TechSparks makes thundering debut in Mumbai: A two-day gala featuring India's top entrepreneurs, investors, innovators, and more

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
SC takes a dim view on HC's stay on conv...
Darshan Solanki suicide case: Deceased's...
Rs 5,400 crore to bolster defence capabi...
Telangana BJP chief refuses to apologise...
Maha Minister confirms Fadnavis took 're...
Mother of 12-year-old girl used as drug ...
More...    
 
 Top Stories
Prabhas, Kriti Sanon and Sunny Sing... 
Miami Open: Sorana Cirstea upsets A... 
Germany reacts to Rahul Gandhi's ou... 
Parineeti Chopra and Raghav Chadha ... 
Spain Masters: PV Sindhu cruises in... 
Ram Navami: Devotees offer prayers ... 
Shakib Al Hasan surpasses Tim South... 
Life of Lord Ram an inspiration for...