22024 FedEx Global Economic Impact Report
FedEx has been transforming transportation
and logistics services for more than 50 years,
advancing our purpose to connect people and
possibilities around the world as a result. From
pioneering overnight delivery to inventing
package tracking to expanding international
trade — innovation is in our DNA, which has
empowered us to continue pushing boundaries
to make supply chains smarter for everyone.
These eorts enable the success of our
customers, build prosperity in the communities
where we operate, and accelerate the ow
of goods and ideas that generate economic
growth across countries and regions. We call
this impact the FedEx Eect.
This report quanties the FedEx Eect by
showing the value of the company’s economic
contributions around the world. For the
fourth consecutive year, we have measured a
range of factors, including the impact of our
company’s revenues, capital expenditures, and
spending on wages, as well as the ripple eects
generated by our core services. To reect the
scale of our operations, we have calculated
the impact that FedEx makes on the global
economy as a whole, as well as on the economies
of the United States and our major operating
regions.
Today, FedEx connects the vast majority of the
world’s gross domestic product. As a result of
this reach, FedEx contributed more than $85
billion in direct economic impact to the global
economy in scal year (FY) 2024.
1
In addition to
this direct impact, FedEx spending to maintain its
operations and its business services stimulates
economic activity at other companies across
the global economy — which is considered the
company’s indirect impact. In FY 2024, FedEx
indirectly contributed an additional $39 billion
in net economic output
2
around the world.
In the global Transportation, Storage, and
Communications sector,
3
the company’s indirect
impact was the largest contribution totaling an
estimated $20.4 billion.
The extensive FedEx supply chain multiplies
this impact. In calendar year (CY)
4
2023, FedEx
contracted with approximately 100,000 suppliers,
90% of which are small businesses.
5
FedEx
spending with these suppliers drives further
economic growth and supports local job creation.
Our global reach also gives FedEx a unique
opportunity to make positive contributions to
the world beyond the impact of our business
activities. FedEx is committed to supporting
the communities where we live, work, and serve
through FedEx Cares, which provides charitable
donations in the form of direct nancial support,
employee volunteering, and in-kind shipping
services. FedEx is also investing in sustainable
technologies such as electric vehicles (EVs) and
renewable power to reduce the environmental
impact of our operations, while contributing
to the research and development of the next
generation of sustainable breakthroughs, such
as carbon capture.
While this report highlights the impact of our
operations during FY 2024, FedEx remains
committed to the spirit of innovation and
progress on which our company was founded.
We recently consolidated our major operating
companies into Federal Express Corporation —
becoming a single company operating a unied,
fully integrated air-ground express network
under the respected FedEx brand. The change
will allow us to become a more exible, ecient,
and intelligent network to better serve our
customers. We are also combining the data and
insights from the 16 million packages we deliver
per day globally with articial intelligence (AI) and
machine learning to create new digital tools and
solutions that are helping us run and change our
business, digitize our customers’ supply chains,
and move up the value chain in e-commerce.
We believe that operating as one FedEx team is
another milestone in our company’s history of
bringing the world closer together. By continuing
to foster connections between people and
possibilities everywhere in the world, we can
multiply our economic impact for years to come.
Creating
prosperity by
connecting
the world
1
Fiscal year (FY) 2024 is dened as June 1, 2023-May 31, 2024.
2
Net economic output is dened as the dierence between the value of total or gross output
and the cost of inputs such as energy, raw materials, and services. Also known as value
added.
3
As dened by the United Nations Conference on Trade and Development (UNCTAD).
4
Calendar year (CY) is dened as January 1-December 31.
5
All supply chain data is for calendar year 2023.
Raj Subramaniam
President & CEO
FedEx Corporation
