A new report from FedEx released Monday says the company worked with 360,000 suppliers worldwide in 2021, supporting more than 16.5 million jobs and contributing to the suppliers’ combined annual revenue of $700 billion.
The company’s 2022 report analyzed its impact on the global economy. In consultation with Dun and Bradstreet, the company looked for the first time at its impact on economies around the globe. Over the past 49 years, FedEx has expanded its services to more than 220 countries and territories, the report said, and invested in a global network that allows businesses of all sizes to access the global economy.
“All around the world, FedEx helped individuals, businesses, and communities emerge from the pandemic by moving goods and providing services that connect humankind and power the global economy,” said Raj Subramaniam, president and CEO of FedEx Corporation. “The report illustrates the ongoing and important work we do every day, including supporting small- and medium-sized businesses, which are the backbone of our local communities. We call this the ‘FedEx Effect.’”
The report found that FedEx invested $6.8 billion on facility improvements, network optimization, and infrastructure improvements, which correlated directly to economic growth in the respective markets. Those investments, the company said, helped small businesses, which make up 88 percent of FedEx’s supply chain.
In the United States, FedEx employs more than 412,000 team members and contributes roughly 12 percent of the total output of the U.S. transportation and logistics sectors.