To compile the index, nearly a thousand international freight forwarders have been surveyed on areas such as infrastructure, quality and competence of operators, customs and clearance processes.
Yardsticks of the index included speed and efficiency of clearance processes, quality of infrastructure including information technology, ability to trace and track shipments, delivery times.
Harin Malwatte, chief executive of Sri Lanka's Ceylon Chamber of Commerce said the gains made over two rankings shows the potential to improve further.
Singapore was ranked number one at 4.13 in the index, with Burundi the lowest at 1.61.
Sri Lanka is aiming to make itself a shipping and transport hub in the region.