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FedEx Corp. has released its annual economic impact report, detailing the company's contributions to the global economy during its fiscal year 2024. The report highlights what FedEx describes as the 'FedEx Effect,' which refers to the company's role in accelerating economic growth by facilitating the movement of goods and ideas across borders.
Raj Subramaniam, president and CEO of FedEx Corporation, stated, "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." He added that this effect represents their commitment to excellence and economic growth in communities where they operate.
The report reveals that FedEx contributed over $85 billion directly to the global economy in FY 2024. This figure accounts for about 0.1% of the world's total net economic output. The company operates an extensive transportation network serving more than 220 countries and territories, employing over 500,000 people globally.
