FedEx contributes $1.7 B to Asia-Pacific economy

Courier giant FedEx is bringing in at least $1.7 billion in output to the Asia-Pacific economy this year, and in the Philippines that contribution boosts mostly micro, small and medium enterprises (MSMEs).

- By ELIJAH FELICE ROSALES

Based on FedEx's 2024 Global Economic Impact Report, FedEx accounts for around 0.2 percent of net economic output in transportation, storage and communications of Asia-Pacific for the year.

FedEx said it is chipping in an indirect economic output of $1.7 billion to the region, of which $540 million goes to manufacturing and $500 million benefits transportation.

In the Philippines, FedEx is keeping its focus on serving the MSME market, as it does elsewhere in the world. In 2023, the courier said 90 percent of its suppliers were classified as MSMEs, and FedEx worked with them on multiple projects, supporting 400,000 jobs.