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U.S.-APEC Trade Facts

APEC Members

APEC has 21 members, referred to as "Member Economies", which account for approximately 40 percent of the world's population, 60 percent of the world's total GDP and 50 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 $3.1 trillion in 2017 (latest data available for goods and services). Exports totaled $1.3 trillion; Imports totaled $1.8 trillion. The U.S. goods and services trade deficit with APEC economies was $485 billion in 2017 (latest data available).

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 $680 billion in 2018.

Trade in services with APEC economies (exports and imports) totaled $487 billion in 2017 (latest data available). Services exports were $311 billion; Services imports were $176 billion. The U.S. services trade surplus with APEC economies was $135 billion in 2017 (latest data available).

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 countries in 2018 were $1.0 trillion, up 5.9% ($57.4 billion) from 2017 and up 37.8% from 2008. U.S. exports to the APEC countries account for 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 ($298.7 billion), Mexico ($264.9 billion), China ($120.3 billion), Japan ($75.0 billion), and Korea, South ($56.3 billion).

The top export categories (2-digit HS) in 2018 were: machinery ($148.3 billion), electrical machinery ($129.7 billion), mineral fuels ($106.6 billion), vehicles ($95.7 billion), and aircraft ($59.4 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 $311.0 billion in 2017 (latest data available), up 5.1% ($15.2 billion) from 2016, and up 76 percent from 2007.

Imports

U.S. goods imports to APEC countries in 2018 were $1.7 trillion, up 7.3% ($117.0) from 2017, and up 32.9% 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 ($539.5 billion), Mexico ($346.5 billion), Canada ($318.5 billion), Japan ($142.6 billion), and Korea, South ($74.3 billion).

The top import categories (2-digit HS) in 2018 were: electrical machinery ($323.6 billion), machinery ($285.7 billion), vehicles ($238.1 billion), mineral fuels ($118.9 billion), and furniture and bedding ($60.0 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 $175.8 billion in 2017 (latest data available), up 6.4% ($10.6 billion) from 2016, and up 46% since 2007

Trade Balance

The U.S. goods trade deficit with APEC was $679.6 billion in 2018, a 9.6% increase ($59.5 billion) over 2017. The U.S. goods trade deficit with APEC countries increased 28.5% from 2008.

The United States has a services trade surplus of $135.2 billion with APEC economies in 2017 (latest data available), up 3.6% from 2016, and up 137% from 2007.

Investment

U.S. foreign direct investment (FDI) in the APEC economies (stock) totaled $1.4 trillion in 2017, up 6.1% from 2016.

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 2017, up 12.6% from 2016.

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 2013 onward; prior to 2013 data not include Brunei, Peru, Papua New Guinea, Russia, and Vietnam.