Since its inception in 1989, the gross domestic product and trade of the
21-member Asia-Pacific Economic Cooperation (APEC) have grown substantially. The
following are key facts and figures in the regard:
-- As a group, APEC's GDP in purchasing power parity (PPP)
terms has increased three-fold from 11.8 trillion U.S. dollars in 1989 to 37.3
trillion dollars in 2006.
-- In 2006, APEC accounted for 56 percent of the world's GDP in PPP terms
compared with 51 percent in 1989.
-- APEC'S GDP has grown at an average 6.6 percent per annum since 1989 in PPP
terms--faster than the world's average growth (6.0 percent) over the same
period.
-- APEC's per capita GDP has risen from US$5,205 in 1989 to US$13,994 in 2006
in PPP terms -- higher than the world's average per capita income of US$10,305
in 2006.
-- Since 1989, APEC's trade with the world has grown at an average of eight
percent per annum, rising from US$3.0 trillion in 1989 to US$13.2 trillion in
2006. APEC accounted for 44 percent of world exports and 45 percent of world
imports.
-- Goods and services exported by APEC members have increased from US$1.5
trillion in 1989 to US$6.5 trillion in 2006, while goods and services imported
by APEC members have risen from US$1.6 trillion and US$6.7 trillion.
-- Merchandise trade amongst APEC economies has been robust, growing at an
average eight percent per annum since 1989. Merchandise exports within the
region rose from US$842 billion in 1989 to US$3.7 trillion in 2006.
-- In 2006, merchandise trade within the region accounted for 69 percent of
APEC's total merchandise trade.
