Global logistics firm FedEx reported that it contributed over $85 billion in direct impact to the global economy for the year 2024, accounting for approximately 0.1 percent of the world’s total net economic output.
According to the released annual economic impact report of FedEx Corp., produced in consultation with Dun & Bradstreet, a leading provider of business decision data and analytics, the study underscores the “FedEx Effect” — the impact FedEx has on accelerating the flow of goods and ideas that generate economic growth across countries and regions. “At FedEx, we have a vision to make supply chains smarter for everyone by leveraging advanced data and technology to better serve our customers and their customers, thereby extending our reach and impact,” said Raj Subramaniam, president and CEO, FedEx Corporation.
“The ‘FedEx Effect’ represents our relentless commitment to excellence, economic growth, and the communities where we live and work,” he added.
FedEx’s direct global economic impact reflects the scale of the FedEx network and the company’s ongoing efforts to enhance its innovative services that help businesses of all sizes connect with customers and strengthen their operations, according to Subramaniam.
The company is known to have the most extensive transportation network globally, serving more than 220 countries and territories.
Additionally, FedEx employs more than 500,000 people across more than 5,000 facilities and moves an average of 16 million packages per day.
The Asia Pacific (APAC) region continues to emerge as a hub of economic opportunity, with rapid growth in major economies like China and Japan and developing markets such as Vietnam, Thailand, and Indonesia.
With this, FedEx is critical in facilitating regional commerce through its growing air and ground network spanning 43 APAC countries and territories.
In fiscal year 2024, FedEx directly contributed an estimated 0.2 percent to net economic output in APAC’s transportation, storage and communications sectors.
Furthermore, FedEx also indirectly contributed an estimated $1.7 billion to the region’s economy for the current year.
“We recognize APAC’s pivotal role and contribution to the global economy and are committed to driving its growth,” said Kawal Preet, president of Asia Pacific, FedEx.
“By investing strategically in infrastructure and enhancing connectivity within the region and globally, we are empowering businesses to unlock new growth opportunities while positioning APAC as a hub for international investment. We remain steadfast in expanding access to global trade, fueling economic growth, and creating long-term sustainable value for communities, customers, and businesses across the region,” he said.