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U.S.-APEC Trade Facts

APEC Members

APEC has 21 members, referred to as "Member Economies", which account for approximately 38 percent of the world's population, 60 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

U.S. goods and services trade with APEC economies totaled $3.2 trillion in 2018. Exports totaled $1.4 trillion; Imports totaled $1.9 trillion. The U.S. goods and services trade deficit with APEC economies was $544 billion in 2018.

The United States had a $2.7 trillion in total (two ways) goods trade with APEC countries during 2018. Goods exports totaled $1.0 trillion; goods imports totaled $1.7 trillion. The U.S. goods trade deficit with APEC was $677 billion in 2018.

Trade in services with APEC economies (exports and imports) totaled $508 billion in 2018. Services exports were $320 billion; Services imports were $188 billion.  The U.S. services trade surplus with APEC economies was $132 billion in 2018.

According to the Department of Commerce, U.S. goods exports to APEC countries supported an estimated 4.2 million jobs in 2015 (latest data available).

Exports

U.S. goods exports to APEC was 2018 were $1.0 trillion, up 6.1% ($59.0 billion) from 2017 and up 38% from 2008.  U.S. exports to APEC account for 61.9% of overall U.S. exports in 2018.

The top 5 U.S. export markets in the APEC economies for 2018 were: Canada ($299.8 billion), Mexico ($265.4 billion), China ($120.1 billion), Japan ($75.2 billion), and South Korea ($56.5 billion).

The top export categories (2-digit HS) in 2018 were: machinery ($149 billion), electrical machinery ($130 billion), mineral fuels ($108 billion), vehicles ($96 billion), and aircraft ($60 billion).

U.S. domestic exports of agricultural products to APEC economies totaled $96.4 billion in 2018.  Leading categories include: soybeans ($9.7 billion), corn ($9.1 billion), beef and beef products ($7.6 billion), pork and pork products ($5.8 billion), and prepared food ($4.6 billion).

U.S. exports of services to APEC were $320.2 billion in 2018, up 3.4% ($10.4 billion) from 2017, and up 67 percent from 2008.

Imports

U.S. goods imports from APEC totaled $1.7 trillion in 2018, up 7.4% ($118.2) from 2017, and up 33% from 2008.  U.S. imports from APEC for 67.2% of overall U.S. imports in 2018.

The top 5 U.S. import suppliers from the APEC economies for 2018 were: China ($539.7 billion), Mexico ($346.1 billion), Canada ($318.8 billion), Japan ($142.4 billion), and South Korea ($74.3 billion).

The top import categories (2-digit HS) in 2018 were: electrical machinery ($324 billion), machinery ($285 billion), vehicles ($238 billion), mineral fuels ($119 billion), and furniture and bedding ($60 billion).

U.S. imports for consumption of agricultural products from APEC economies totaled $80.2 billion in 2018. Leading categories include:  fresh fruit ($9.2 billion), fresh vegetables ($7.9 billion), snack foods (including chocolate) ($7.4 billion), red meats, fresh/chilled/frozen ($6.8 billion), and processed fruit and vegetables ($6.2 billion).

U.S. imports of services were $187.9 billion in 2018, up 6.8% ($12.0 billion) from 2017, and up 55% since 2008.

Trade Balance

The U.S. goods trade deficit with APEC was $677.2 billion in 2018, a 9.6% increase ($59.3 billion) over 2017. The U.S. goods trade deficit with APEC countries increased 28.0% from 2008.

The United States has a services trade surplus of $132.3 billion with APEC economies in 2018, down 1.2% ($1.6 billion) from 2017, but up 89% from 2008.

Investment

U.S. foreign direct investment (FDI) in the APEC economies (stock) totaled $1.4 trillion in 2018, down 2.8% from 2017.

U.S. direct investment in the APEC economies is concentrated in the nonbank holding companies, manufacturing, and finance/insurance sectors.

The APEC economies’ FDI in the United States (stock) was $1.2 trillion in 2018, up 7.5% from 2017.

The APEC economies reported direct investment in the U.S. is led by the manufacturing, wholesale trade, and finance/insurance sectors.

*NOTE: Services trade data includes all of APEC economies except Papua New Guinea, from 2006 onward; prior to 2013 data not include Brunei, Peru, Papua New Guinea, Russia, and Vietnam.