When Prologis CEO Hamid Moghadam speaks, the industry listens. Rents forecast to increase even further next year, he says during an earnings call? It's as good as done. Warehouse development will drop next year in the US? People in the industry incorporate it into their planning.

And it is little wonder. Prologis has a mammoth footprint in the space across the globe and this presence gives it access to an immense amount of data. We know that, of course, but every now and then it is helpful to quantify just how big that footprint is. Helpfully, Oxford Economics and Prologis have done that in a recent report. "This study underscores the importance the logistics industry has on the global economy and the essential nature of a fluid supply chain," Moghadam says in prepared remarks.

Let's start with the basics: Prologis global operations encompass approximately 1.2 billion square feet. According to the report, 2.8% of the world's gross domestic product flows through a Prologis property–or nearly 3% of all goods produced and sold globally came through a Prologis logistics property in 2022. Or put another way, $2.7 trillion of goods produced or sold in the world went through Prologis facilities in 2022, a 23% increase from 2020. That $2.7 trillion of goods represents 4% of the GDP in the 19 countries in which Prologis operates, compared to 3.5% in 2020. (Prologis' portfolio spanned 963 million square feet in 2020).