UPS recorded relatively low growth of 5% in Asia Pacific in 2008 due to the difficult economicenvironment worldwide and the resulting impact on the Asian region.
However, in the fourth quarter of 2008, UPS Asia Pacific said that it registered nearly 25%growth in export volume for India, and around 10% for China compared to the same period in 2007.
Derek Woodward, President of UPS Asia Pacific, commented on the lower overall growth in thelast year: “2008 was a difficult year for business, but UPS responded well in Asia with enhancedservices to the region. These include new products such as UPS Paperless Invoice and InternationalReturns, and the establishment of wholly owned operations in Korea. Most importantly, UPS continuedto invest for the future by expanding our multi-hub strategy in the region with our Shanghai andShenzhen hubs.”
“We expect 2009 will continue to be a difficult year for many businesses, including ourcustomers. In times like these, we want to stay focused on helping our customers grow and bettermanage their business, and at the same time strengthen our presence for long term growth. Thesesteps will help UPS preserve its financial strength and enhance its leadership position in theindustry,” he added.
During the fourth quarter, UPS continued to invest in Asia Pacific, expanding its presence inChina with the opening of its new hub in Shanghai. This is the first hub constructed by a U.S.carrier in that country and links all of China to UPS’s international network. In addition, thecompany began building a new intra-Asian hub in Shenzhen to be opened in 2010, UPS Asia Pacificsaid in a statement.
