Hoofddorp, November 6, 2023 – FedEx Corp. (NYSE:FDX) released its annual Economic Impact Report for fiscal year 2023, assessing the company’s global network and role in fueling innovation.[1] Developed in consultation with Dun & Bradstreet (NYSE: DNB), a leading provider of business decision data and analytics, the study highlights the positive impact FedEx has on individuals and communities around the world – otherwise known as the ‘FedEx Effect’.
“For five decades, FedEx has helped shape the global supply chains and e-commerce revolution by changing the way businesses exchange goods, services and ideas – all while meeting the evolving needs of our customers,” said President and CEO Raj Subramaniam. FedEx Corporation. “This report demonstrates our significant contribution to our economy and our commitment to making a positive difference in the communities in which we operate.”
The report notes that FedEx will contribute more than $80 billion in direct impact to the global economy by fiscal year 2023, despite recent economic pressures. This move reflects the breadth of FedEx’s network and the company’s ongoing efforts to develop new services that help businesses of all sizes connect with customers and strengthen their operations. In Europe, the company’s impact will include an indirect contribution of $2.4 billion to the region’s economy by 2023.
FedEx It celebrated 50 years of operations on April 17, 2023. The company has the largest transportation network in the world and serves more than 220 countries and territories. Additionally, FedEx employs more than 500,000 people at more than 5,000 facilities and moves approximately 14.5 million packages per day.
Key highlights of the FedEx Economic Impact Report include:
· Indirect influenceFedEx indirectly contributes an estimated $35 billion to global economic output.[2] In 2023
· supply chainBy 2023, FedEx has contracted with 100,000 suppliers – 90% of which will be small businesses. In the year An analysis of spending with 73,000 unique suppliers through 2022 shows that the company’s spending with these suppliers during that period will support 1.1 million jobs.
· BusinessFedEx continues to support trade policies that provide its customers with greater market access and efficiency. This includes support for provisions such as de minimis allowances, which allow individuals and businesses of all sizes to import low-value goods free of duties and taxes.
European influence
FedEx Express serves more than 45 countries in Europe, with air hubs in Paris, France and Liège Airport at Roussillon-Charles de Gaulle Airport. The company operates 28 route hubs across the continent and serves more than 700 pickup and delivery stations that handle 1.3 million international shipments per week.
“The investment in our two major hubs in the Netherlands and Italy demonstrates our commitment to the region and our determination to keep our customers’ goods moving despite economic headwinds,” said Karen Reddington, president of FedEx Express Europe. He added, “And with our extensive network in Europe, we directly contributed 0.4% to the net economic output in the transport, storage and communication sector.[3]
Key European highlights from the report include:
· FedEx It has spent $7.3 billion with suppliers in Europe by 2022. This represents a 43% increase in the total number of suppliers supported at company expense, as well as a 19% increase in small businesses, year over year.
· FedEx Express In 2023, it continues to invest in the optimization of the European network. Opening of a new earthworks center in Gdansk, Poland; And the completion of major route hubs in the Netherlands and Italy will further improve shipping in Europe and support economic activity on the continent.
· FedEx Express is estimated to employ more than 5,000 people at the Roissy-Charles De Gaulle Airport hub by 2023 and contribute approximately €1.9 billion to the local economy.
Read the full FY 2023 FedEx Economic Impact Report and see more about the FedEx Effect in Europe fedex.com/economicimpact.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses with a wide range of transportation, e-commerce and business services worldwide. With nearly $90 billion in annual revenue, the company provides integrated business solutions through companies that compete together, collaborate and work digitally as one FedEx. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 500,000 employees to focus on safety, high ethical and professional standards, and focus on the needs of their customers and communities. FedEx is committed to connecting people and opportunities around the world with responsibility and resources, aiming to achieve carbon-neutral operations by 2040. Please visit to learn more. fedex.com/about.
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[1] Fiscal Year (Y) 2023 is defined as June 1, 2022 – May 31, 2023.
[2] Net economic output is the difference between the value of gross or gross output and the value of inputs such as energy, raw materials, and services. Also known as value added.
[3] As stated by the United Nations Conference on Trade and Development (UNCTAD).