APEC Members
APEC has 21 members, referred to as "Member Economies", which account for approximately 38 percent of the world's population, 61 percent of the world's total GDP and 47 percent of the world's trade. APEC Member Economies are Australia; Brunei Darussalam; Canada; Chile; China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; The Republic of the Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand; the United States of America; and Viet Nam.
U.S.-APEC Trade Facts
In 2024, APEC GDP (including the United States) was an estimated $67.8 trillion (current market exchange rates), and the population was 3.0 billion. Not including the United States, APEC GDP was an estimated $38.6 trillion, and the population was 2.6 billion (Source: IMF)
U.S. goods and services trade with APEC totaled an estimated $4.1 trillion in 2024 . Exports were $1.6 trillion; imports were $2.4 trillion. The U.S. goods and services trade deficit with APEC was $775.1 billion in 2024.
U.S. goods trade (exports plus imports) with APEC totaled $3.4 trillion in 2024. Goods exports totaled $1234.3 billion; goods imports totaled $2.1 trillion. The U.S. goods trade deficit with APEC was $913.1 billion in 2024.
Trade in services with APEC (exports and imports) totaled an estimated $672.2 billion in 2024. Services exports were $405.1 billion; services imports were $267.1 billion. The U.S. services trade surplus with APEC was $138.0 billion in 2024.
According to the Department of Commerce, U.S. exports of goods and services to APEC supported an estimated 5.2 million jobs in 2022 (latest data available) (3.8 million supported by goods exports and 1.4 million supported by services exports).
Exports
- U.S. goods exports to APEC in 2024 were $1234.3 billion, up 2.0 percent ($24.1 billion) from 2023 and up 23 percent from 2014. U.S. exports to APEC account for 60.2 percent of overall U.S. exports in 2024.
- The top export categories (2-digit HS) in 2024 were: machinery ($173.2 billion), electrical machinery ($156.7 billion), mineral fuels ($150.5 billion), vehicles ($105.4 billion), and optical and medical instruments ($58.6 billion).
- U.S. total exports (domestic exports plus re-exports) of agricultural products to APEC totaled $133.1 billion in 2024. Leading domestic export categories include: soybeans ($19 billion), corn ($10 billion), beef & beef products ($9.4 billion), pork & pork products ($7.3 billion), and dairy products ($6.6 billion).
- U.S. exports of services to APEC were an estimated $405.1 billion in 2024, 10.9 percent ($40 billion) more than 2023, and 20 percent greater than 2019 levels. Leading services exports from the U.S. to APEC were in the travel, financial services, and intellectual property sectors.
Imports
- U.S. goods imports from APEC totaled $2.1 trillion in 2024, up 6.2 percent ($125.5 billion) from 2023, and up 38 percent from 2014. U.S. imports from APEC account for 69.0 percent of overall U.S. imports in 2024.
- U.S. total imports (general definition) of agricultural products to APEC totaled $132.3 billion in 2024. Leading categories include: forest products ($17 billion), seafood products ($16 billion), fresh vegetables ($12 billion), baked goods, cereals, & pasta ($11 billion), and beef & beef products ($8.9 billion).
- U.S. imports of services from APEC were an estimated $267.1 billion in 2024, 9.4 percent ($23.0 billion) more than 2023, and 63 percent greater than 2019 levels. Leading services imports from APEC to the U.S. were in the transportation, travel, and professional and management services sectors.
Trade Balance
- The U.S. goods trade deficit with APEC was $913.1 billion in 2024, a 12.5 percent increase ($101.4 billion) over 2023.
- The United States has a services trade surplus of an estimated $138.0 billion with APEC in 2024, up 13.8 percent from 2023.
Investment
- U.S. foreign direct investment (FDI) in APEC (stock) was $1.7 trillion in 2024, a 5.6 percent increase from 2023. U.S. direct investment in APEC is led by nonbank holding companies and finance & insurance.
- APEC's FDI in the United States (stock) was $2.1 trillion in 2024, up 6.4 percent from 2023. APEC's direct investment in the U.S. is led by manufacturing, finance & insurance, and wholesale trade.
- Sales of services in APEC by majority U.S.-owned affiliates were $734.1 billion in 2022 (latest data available), while sales of services in the United States by majority APEC-owned firms were $511.5 billion.
