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The Asia-Pacific Economic Cooperation (APEC) forum has been instrumental in promoting regional and global trade and investment since it was founded in 1989. The 21 APEC economies collectively account for 44 percent of world trade and 54 percent of global GDP. The growth in U.S. goods exports to APEC clearly demonstrates the benefits of open markets.
In 2008, U.S. goods trade with the APEC economies totaled $2.1 trillion, up 7 percent from 2007. U.S. services trade with the APEC economies totaled $287 billion in 2007.