FedEx Corp. (NYSE: FDX) today released its annual economic
impact report, analyzing the company’s worldwide network and role in building prosperity in local
communities during its 2024 fiscal year (FY 2024) 1 . Produced in consultation with Dun & Bradstreet
(NYSE: DNB), a leading provider of business decisioning 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.”
The report reveals that FedEx contributed more than $85 billion in direct impact to the global economy in
FY 2024, accounting for approximately 0.1% of the world’s total net economic output 2 . This activity
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. The
company has the most extensive transportation network in the world, providing service to 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.
APAC impact
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. FedEx is critical in facilitating regional commerce through its growing air, and ground network
spanning 43 APAC countries and territories. In FY 2024, FedEx directly contributed an estimated 0.2% to
net economic output in APAC’s Transportation, Storage, and Communications sector. FedEx also
indirectly contributed an estimated $1.7 billion to the region’s economy in FY 2024.
“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.”
The FedEx economic footprint in the region continues to grow.
Trade: FedEx’s continued support of trade policies that facilitate greater market access advances
the company’s purpose of connecting people and possibilities across the globe. As countries like
Vietnam emerge as central global production hubs for technology equipment, semiconductors,
textiles, and more, FedEx has strengthened connections within the region, for instance by adding
four new weekly flights from Ho Chi Minh City to the FedEx Asia Pacific Hub in Guangzhou,
China.
Operational enhancements: FedEx continues to grow its footprint in the APAC region and has
established new regional headquarters in Singapore. FedEx also upgraded the Shenzhen
International Gateway to double its package sorting capacity. It broke ground on a new South
China Operations Center in Guangzhou that will be able to sort up to 25,000 packages and
documents per hour – three times the current FedEx Guangzhou Gateway capacity. Additionally,
we have plans to expand the FedEx transshipment center at the Farglory Air Cargo Park at
Taiwan’s Taoyuan International Airport. These critical hubs are helping meet the growing demand
for efficient, large-scale shipping solutions.
Sustainability: The company continues to invest in renewable energy to power its facilities,
electrification of its pickup and delivery fleet, and carbon sequestration research to advance
natural carbon capture solutions for adoption across the transportation industry. In FY 2024,
FedEx opened new energy-efficient facilities in Singapore, China, and Australia, and added five
commercial electric tricycle to its PUD fleet in Taiwan. The company also made history by
completing the first delivery of a cross-border package via an EV from Malaysia to Singapore.
The historic 252-mile journey avoided approximately 220 pounds of tailpipe CO2 emissions
compared to making the same journey with a diesel-powered van and was recognized by the
Malaysian Book of Records for “First Malaysian Zero Emission Cross-Border Delivery”.
Supply chain: FedEx supplier spending makes a significant contribution to the small- and
medium-sized business (SAM) market. In calendar year 2023, 68% of FedEx supply chain
spending in APAC went to SAMs, contributing to the number of small business jobs created in the
region.
Small businesses: FedEx helps small- and medium-sized businesses (SAMs) accelerate their
growth and extend their global reach, supporting local job creation and economic activity. In
addition to its SAM-specific portfolio solutions, the company supports the SAM community,
through its Small Business Grant Program to recognize innovative entrepreneurs and provide
funding to help accelerate their growth. In APAC, four companies from Indonesia, Malaysia,
Philippines, and Singapore shared a total prize pool of $69,000. The $30,000 grand prize winner
was Lucence, a precision oncology start-up from Singapore that is developing non-invasive tests
that aim to accurately diagnose cancer.
Giving: FedEx supports the local communities it serves through FedEx Cares, which promotes
charitable giving, employee volunteer efforts, and in-kind shipping services around the world. In
FY 2024, the company’s charitable contributions totaled to more than $55 million to its direct
partnerships with NGOs and nonprofits. In APAC, this involved donating retired uniforms to local
organizations in China, supporting education costs for women enrolled in engineering and
science courses at the Polytechnic University of the Philippines, donating computers and
software programs to students in Jakarta, and bicycle repair stations in the Philippines. The
company also supported youth entrepreneurship through its regional Junior Achievement (JA)
program and volunteered to support programs including tree planting in China and Singapore,
urban gardens in Malaysia, foodbank and litter collection in Australia and a library program in
China.
Read the full FY 2024 FedEx Global Economic Impact Report and explore the FedEx Effect in
communities and regions around the world at FedEx | Economic Impact Report.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of
transportation, e-commerce, and business services. With annual revenue of $88 billion, the company
offers integrated business solutions utilizing its flexible, efficient, and intelligent global network.
Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more
than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and
the needs of their customers and communities. FedEx is committed to connecting people and possibilities
around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040.
