Sydney, Australia, November 8, 2023 – FedEx Corp. (NYSE:FDX) released its annual economic impact report, analyzing the company’s worldwide network and role in fueling innovation during its 2023 fiscal year (FY 2023). Produced in consultation with Dun & Bradstreet (NYSE: DNB), a leading provider of business decisioning data and analytics, the study demonstrates the positive impact FedEx has on individuals and communities around the globe — otherwise known as the ‘FedEx Effect.’
The report reveals that FedEx contributed more than $80 billion in direct impact to the global economy in FY 2023, despite recent economic pressures. This activity reflects the scale of the network FedEx has developed 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 study also highlights the impact of FedEx in Australia, where the company employs more than 5,100 team members, and operates five gateways, 56 stations, 2,600 vehicles, and 24 flights in and out of the country each week.
AMEA impact
FedEx Express serves more than 100 markets across the Asia Pacific, Middle East, and Africa (AMEA) region. The study found that with its extensive network, FedEx Express contributed 0.3% of net economic output in the Transportation, Storage, and Communications sector in the region, including Australia, during FY 2023. Across all sectors of the AMEA economy, FedEx Express contributed 0.02% of total net economic output, which grew approximately 6% in FY 2023 to $44 trillion. The company’s impact also included $2.7 billion in indirect contributions to the regional economy in FY 2023.
“The AMEA region has an increasingly prominent position in the global economy. We are committed to supporting the growth we are seeing here by investing in our facilities and network. Both directly and indirectly, our work supports a growing number of jobs in the wider economy, and we want that to continue,” said Kawal Preet, president, Asia Pacific, Middle East, and Africa region, FedEx Express. “Our focus is on our customers and creating greater access to the possibilities that global trade brings. We believe that creating an even more connected and sustainable future will strengthen the FedEx Effect for team members, customers, suppliers, and communities across the region.”
Impact in Australia
The FedEx Express network in Australia connects businesses and communities throughout the country and across the Tasman Sea to New Zealand and the greater AMEA region.
In May 2023, FedEx Express opened a new gateway in Adelaide to support surging freight demand. The 64,000-square-meter gateway is the largest single express sorting facility in South Australia and enables one-day delivery service to homes and businesses in an additional 130 postcodes across metropolitan and regional South Australia.
The company further strengthened its network by adding five new weekly trans-Tasman flights that directly connect Melbourne, Australia with Christchurch and Auckland in New Zealand. This move provides customers in Melbourne more time to prepare shipments, access to next-day International Priority shipping between Christchurch and Australia, and a one-day improvement in International Priority Freight for shipments from Melbourne, Sydney, and Brisbane to Christchurch.
Additionally, FedEx Express introduced new digital solutions that enhance customer service. The company announced a collaboration with Starshipit, a shipping and fulfilment platform that enables businesses to tap into the international e-commerce market, and launched FedEx® Delivery Manager International, a digital e-commerce delivery solution, for Australian residential customers.
“We continuously strengthen our operations in Australia to ensure we offer our customers a robust suite of differentiated solutions,” said Peter Langley, vice president of FedEx Express Australia. “FedEx helps small and medium businesses, as well as e-retailers, tap into the domestic market and creates more access to international growth opportunities. We are proud to contribute to the Australian economy and help shape supply chains by providing both transportation and digital solutions that grow imports and exports between Australia and the global marketplace.”
Giving impact
The report reveals that FedEx donated $58.6 million globally in FY 2023 to charities and local non-profits in the communities where its team members live and work. In AMEA, this includes environmental programs, childhood education, entrepreneurship, and healthcare initiatives to help improve lives. In April 2023, more than 1,000 FedEx volunteers and their families across 22 AMEA markets, including Australia and New Zealand, participated in the company’s 50 Days of Caring initiative. They undertook a variety of activities including tree plantings, beach and park clean-ups, and hosted educational seminars on eco-living/eating, waste segregation, road safety, and sustainable logistics.
FedEx is committed to connecting the world responsibly, through its stated goal of achieving carbon-neutral operations by 2040 and pursuit of investments in renewable energy to power its operations.
FedEx celebrated 50 years of operations on April 17, 2023. The company has the most extensive transportation network in the world, providing services to more than 220 countries and territories. Additionally, FedEx employs over 500,000 people across more than 5,000 facilities and moves approximately 14.5 million packages per day.
Read the full FY 2023 FedEx Economic Impact Report and further explore the FedEx Effect across Australia and the broader AMEA region at fedex.com/economicimpact.