APEC has the following 21 member economies (with the year of joining shown in parenthesis): Australia (1989); Brunei Darussalam (1989); Canada (1989); Chile (1994); China (1991); Hong Kong, China (1991); Indonesia (1989); Japan (1989); Korea (1989); Malaysia (1989); Mexico (1993); New Zealand (1989); Papua New Guinea (1993); Peru (1998); the Philippines (1989); Russia (1998); Singapore (1989); Chinese Taipei (1991); Thailand (1989); United States (1989); and Viet Nam (1998).

This glossary provides definitions for all the indicators used in the StatsAPEC databases. Wherever possible, the definitions have been taken directly from the original data provider and links to their websites have been provided. If further clarification is required, please approach the relevant data provider directly.

Key Indicators Database

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Population (5 indicators)

Total Population (in thousands) - Total population is based on the de facto definition of population, which counts all residents regardless of legal status or citizenship. The values shown are midyear estimates. Data shown are in thousands. APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/SP.POP.TOTL accessed 14 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 14 December 2023.

Population Growth Rate (annual %) - Annual population growth rate for year t is the exponential rate of growth of midyear population from year t-1 to t, expressed as a percentage. Population is based on the de facto definition of population, which counts all residents regardless of legal status or citizenship. Data shown are in percentages. APEC aggregate is the annual percentage change of the APEC aggregate for Total Population (for comparability, the denominator does not include an economy's previous year data if its current year is missing).

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/SP.POP.GROW, 14 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 14 December 2023.

Population, Ages 0-14 (% of total population) - Population between the ages 0 to 14 as a percentage of the total population. Population is based on the de facto definition of population. Data shown are in percentages. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/SP.POP.0014.TO.ZS, accessed 14 December 2023. Chinese Taipei's Ministry of the Interior, available athttps://ws.moi.gov.tw/001/Upload/400/relfile/0/4405/48349492-6f8c-453b-a9d1-4a8f0593b979/year/year_en.html, accessed 14 December 2023.

Population, Ages 15-64 (% of total population) - Total population between the ages 15 to 64 as a percentage of the total population. Population is based on the de facto definition of population, which counts all residents regardless of legal status or citizenship. Data shown are in percentages. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/SP.POP.1564.TO.ZS, accessed 14 December 2023. Chinese Taipei's Ministry of the Interior, available at https://ws.moi.gov.tw/001/Upload/400/relfile/0/4405/48349492-6f8c-453b-a9d1-4a8f0593b979/year/year_en.html, accessed 14 December 2023.

Population, Ages 65 and Above (% of total population) - Population ages 65 and above as a percentage of the total population. Population is based on the de facto definition of population, which counts all residents regardless of legal status or citizenship. Data shown are in percentages. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/SP.POP.65UP.TO.ZS, accessed 14 December 2023. Chinese Taipei's Ministry of the Interior, available at https://ws.moi.gov.tw/001/Upload/400/relfile/0/4405/48349492-6f8c-453b-a9d1-4a8f0593b979/year/year_en.html, accessed 14 December 2023.

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Gross Domestic Product (GDP) / Gross National Income (GNI) (14 indicators)

GDP, Current USD (in millions) - Gross Domestic Product (GDP) at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few economies where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Data shown are in current US dollars, in millions. APEC aggregate is a sum based on data available.

Source World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GDP.MKTP.CD, accessed 14 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 14 December 2023.

GDP, Constant 2015 USD (in millions) - Gross Domestic Product (GDP) at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Dollar figures for GDP are converted from domestic currencies using 2015 official exchange rates. For a few economies where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. All data are in constant 2015 prices, expressed in million US dollars. APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GDP.MKTP.KD, accessed 14 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 22 February 2023.

GDP, PPP, Current International Dollar (in millions) - This indicator provides values for Gross Domestic Product (GDP) expressed in current international dollars, converted by purchasing power parity (PPP) conversion factor. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. PPP conversion factor is a spatial price deflator and currency converter that eliminates the effects of the differences in price levels between economies. From April 2020, “GDP: linked series (current LCU)” [NY.GDP.MKTP.CN.AD] is used as underlying GDP in the local currency unit so that it is in line with the time series of PPP conversion factors for GDP, which are extrapolated with linked GDP deflators. Data shown for Chinese Taipei are from a different source and may not be strictly comparable with the data shown for all other APEC economies. Data for Chinese Taipei in 2023 is an estimate. Data shown are in current international dollars, in millions. APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD, accessed 14 December 2023. For Chinese Taipei, International Monetary Fund, World Economic Outlook Database: October 2023 Edition, available at https://www.imf.org/en/Publications/SPROLLs/world-economic-outlook-databases#sort=%40imfdate%20descending, accessed 27 December 2023.

GDP, PPP, Constant 2017 International Dollar (in millions) - PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the US dollar has in the United States. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data shown are in constant 2017 international dollars, in millions. APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GDP.MKTP.PP.KD, accessed 14 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 1 April 2023.

GDP per capita, Current USD - GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data shown are in current US dollars. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GDP.PCAP.CD, accessed 14 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 14 December 2023.

GDP per capita, Constant 2015 USD - Gross Domestic Product (GDP) per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. All data are shown in constant 2015 US dollars. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GDP.PCAP.KD, accessed 14 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 22 February 2023.

GDP per capita, PPP, Current International Dollar - This indicator provides per capita values for Gross Domestic Product (GDP) expressed in current international dollars converted by purchasing power parity (PPP) conversion factor. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. PPP conversion factor is a spatial price deflator and currency converter that controls for price level differences between economies. Total population is a midyear population based on the de facto definition of population, which counts all residents regardless of legal status or citizenship. Data for Chinese Taipei in 2023 is an estimate. Data shown are in current international dollars. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD, accessed 14 December 2023. For Chinese Taipei, International Monetary Fund, World Economic Outlook Database: October 2023 Edition, available at https://www.imf.org/en/Publications/SPROLLs/world-economic-outlook-databases#sort=%40imfdate%20descending, accessed 27 December 2023.

GDP per capita, PPP, Constant 2017 International Dollar - Gross Domestic Product (GDP) per capita based on purchasing power parity (PPP). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the US dollar has in the United States. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data shown are in constant 2017 international dollars. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.KD, accessed 14 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 1 April 2023.

GDP Growth Rate (annual %) - Annual percentage growth rate of Gross Domestic Product (GDP) at market prices based on constant local currency. Aggregates are based on constant 2015 prices, expressed in US dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data shown are in percentages. APEC aggregate is the annual percentage change of the APEC aggregate for GDP, Constant 2015 USD (in millions) (for comparability, an economy's data is excluded if it has missing data, whether in the numerator or in the denominator).

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG, accessed 14 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 14 December 2023.

GDP per capita Growth Rate (annual %) - Annual percentage growth rate of Gross Domestic Product (GDP) per capita based on constant local currency. Aggregates are based on constant 2015 US dollars. GDP per capita is gross domestic product divided by midyear population. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data shown are in percentages. APEC aggregate is the annual percentage change of the APEC aggregate for GDP per capita, Constant 2015 USD (for comparability, an economy's data is excluded if it has missing data, whether in the numerator or in the denominator).

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GDP.PCAP.KD.ZG, accessed 14 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 24 February 2023.

GNI, Atlas Method, Current USD (in millions) - Gross national income (GNI, formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to US dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the economy, and through 2000, the G-5 economies (France, Germany, Japan, the United Kingdom and the United States). From 2001, these economies included the Euro area, Japan, the United Kingdom and the United States. Data shown for Chinese Taipei are not converted using the Atlas method and are, therefore, not strictly comparable with the data shown for all other APEC economies. Data shown are in current US dollars, in millions. APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GNP.ATLS.CD, accessed 14 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 14 December 2023.

GNI, PPP, Current International Dollar (in millions) - This indicator provides values for gross national income (GNI, formerly GNP) expressed in current international dollars converted by purchasing power parity (PPP) conversion factor. Gross national income is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. PPP conversion factor is a spatial price deflator and currency converter that eliminates the effects of the differences in price levels between economies. From July 2020, “GNI: linked series (current LCU)” [NY.GNP.MKTP.CN.AD] is used as underlying GNI in the local currency unit so that it is in line with time series of PPP conversion factors, which are extrapolated with linked deflators. Data shown are in current international dollars, in millions. APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GNP.MKTP.PP.CD, accessed 14 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 1 April 2023.

GNI per capita, Atlas Method, Current USD - GNI per capita (formerly GNP per capita) is the gross national income, converted to US dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to US dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the economy, and through 2000, the G-5 economies (France, Germany, Japan, the United Kingdom and the United States). From 2001, these economies included the Euro area, Japan, the United Kingdom and the United States. Data shown for Chinese Taipei are not converted using the Atlas method and are, therefore, not strictly comparable with the data shown for all other APEC economies. Data shown are in current US dollars. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GNP.PCAP.CD, accessed 14 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 14 December 2023.

GNI per capita, PPP, Current International Dollar - This indicator provides per capita values for gross national income (GNI, formerly GNP) expressed in current international dollars converted by purchasing power parity (PPP) conversion factor. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. PPP conversion factor is a spatial price deflator and currency converter that eliminates the effects of the differences in price levels between economies. Data shown are in current international dollars. APEC aggregate is a weighted average based on Total Population.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GNP.PCAP.PP.CD, accessed 14 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 1 April 2023.

Inflation (3 indicators)

Consumer Prices (annual %) - Consumer price index reflects changes in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. Data are period averages shown in percentages.

Source: International Monetary Fund, International Financial Statistics, available at https://data.imf.org/?sk=4c514d48-b6ba-49ed-8ab9-52b0c1a0179b&sId=1390030341854, accessed 15 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 15 December 2023.

Producer Prices (annual %) - Wholesale price index refers to a mix of agricultural and industrial goods at various stages of production and distribution, including import duties. The Laspeyres formula is generally used. Data are period averages shown in percentages.

Source: International Monetary Fund, International Financial Statistics, available at https://data.imf.org/?sk=4c514d48-b6ba-49ed-8ab9-52b0c1a0179b&sId=1390030341854, accessed 15 December 2023. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 15 December 2023.

GDP Deflator (annual %) - Inflation as measured by the annual growth rate of the Gross Domestic Product (GDP) implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency. The base year varies by economy. Data shown are in percentages.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG, accessed 15 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 15 December 2023.

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Labor (10 indicators)

Labor Force Participation Rate - Labor force participation rate is the ratio of the labor force to the working-age population, expressed as a percentage. The labor force is the sum of the number of persons employed and the number of persons unemployed. Data are disaggregated by sex and are shown in percentages. APEC aggregates are weighted averages based on population ages 15 and older data, disaggregated by sex, from the source.

Source: International Labour Organization, ILO database of labor statistics (ILOSTAT), available at https://www.ilo.org/ilostat-files/WEB_bulk_download/html/bulk_indicator.html, accessed 27 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 27 December 2023.

Unemployment Rate - Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Data are disaggregated by sex and are shown in percentages. APEC aggregate for the total unemployment rate is a weighted average based on total labor force data from the source. No APEC aggregate is calculated for sex-disaggregated unemployment rates.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 27 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 27 December 2023.

Labor Productivity per Person Employed (constant 2022 USD at PPP) - Labor productivity per person employed, or GDP per person employed, is output per unit of labour input. Output is measured as "value added", which is total production minus the value of intermediate inputs, such as raw materials, semi-finished products, services purchased and energy inputs. Value added, or gross domestic product (GDP) in the national accounts, represents the compensation for input of services from capital, including depreciation, and labor directly engaged in the production. Labor input is defined as persons employed. Data shown are in constant 2022 international dollars, converted using Purchasing Power Parities. Data for 2023 are based on forecasts. Some figures for earlier years also rely on estimates by the source. APEC aggregate is a weighted average based on total number of persons employed. China (Official) and United States (Official) data are used.

Source: The Conference Board Total Economy Database, April 2023, available at http://www.conference-board.org/data/economydatabase/, accessed 27 December 2023.

Age Dependency Ratio (% of working-age population) - Age dependency ratio is the ratio of dependents—people younger than 15 or older than 64—to the working-age population—those aged 15-64. Data are shown as the proportion of dependents per 100 working-age population. APEC aggregate is a weighted average based on the working-age population (number of people ages 15-64).

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/SP.POP.DPND, accessed 27 December 2023. Chinese Taipei's Ministry of the Interior, available at https://ws.moi.gov.tw/001/Upload/400/relfile/0/4405/48349492-6f8c-453b-a9d1-4a8f0593b979/year/year_en.html, accessed 27 December 2023.

Age Dependency Ratio, Old (% of working-age population) - Age dependency ratio, old, is the ratio of older dependents—people older than 64—to the working-age population—those aged 15-64. Data are shown as the proportion of dependents per 100 working-age population. APEC aggregate is a weighted average based on the working-age population (number of people ages 15-64).

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/SP.POP.DPND.OL, accessed 27 December 2023. Chinese Taipei's Ministry of the Interior, available at https://ws.moi.gov.tw/001/Upload/400/relfile/0/4405/48349492-6f8c-453b-a9d1-4a8f0593b979/year/year_en.html, accessed 27 December 2023.

Age Dependency Ratio, Young (% of working-age population) - Age dependency ratio, young, is the ratio of younger dependents—people younger than 15—to the working-age population—those aged 15-64. Data are shown as the proportion of dependents per 100 working-age population. APEC aggregate is a weighted average based on the working-age population (number of people ages 15-64).

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/SP.POP.DPND.YG, accessed 27 December 2023. Chinese Taipei's Ministry of the Interior, available at https://ws.moi.gov.tw/001/Upload/400/relfile/0/4405/48349492-6f8c-453b-a9d1-4a8f0593b979/year/year_en.html, accessed 27 December 2023.

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Economic Structure (6 indicators)

Value Added, Agriculture (% of GDP) - Agriculture, forestry, and fishing corresponds to International Standard Industrial Classification (ISIC) divisions 1-3 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the ISIC, revision 4. Note: For VAB economies, gross value added at factor cost is used as the denominator. Data shown are in percentages. APEC aggregate is a weighted average based on Gross Domestic Product, Current USD.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NV.AGR.TOTL.ZS, accessed 14 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 13 December 2023.

Value Added, Industry (% of GDP) - Industry (including construction) corresponds to International Standard Industrial Classification (ISIC) divisions 05-43 and includes manufacturing (ISIC divisions 10-33). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the ISIC, revision 4. For VAB economies, gross value added at factor cost is used as the denominator. Data shown are in percentages. APEC aggregate is a weighted average based on Gross Domestic Product, Current USD.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NV.IND.TOTL.ZS, accessed 14 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 13 December 2023.

Value Added, Services (% of GDP) - Services correspond to International Standard Industrial Classification (ISIC) divisions 50-99 and they include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the ISIC, revision 3 or 4. Data shown are in percentages. APEC aggregate is a weighted average based on Gross Domestic Product , Current USD.

Source: World Bank, World Development Indicators, available at https://data.worldbank.org/indicator/NV.SRV.TOTL.ZS, accessed 14 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at https://nstatdb.dgbas.gov.tw/dgbasall/webMain.aspx?k=engmain, accessed 13 December 2023.

Employment, Agriculture (% of total employment) - Employees are people who work for a public or private employer and receive remuneration in wages, salary, commission, tips, piece rates, or pay in kind. Agriculture includes hunting, forestry, and fishing. It corresponds to International Standard Industrial Classification division 1 (ISIC revision 2) or tabulation categories A and B (ISIC revision 3), or category A (ISIC revision 4). Data shown are the share of total employment. APEC aggregate is a weighted average based on total employment data from the source. Note that total share of employment from agriculture, industry and services may not add up to 100 percent because some economies have a significant share of employment which are categorized as not adequately defined.

Source: International Labour Organization, ILOSTAT, available at https://www.ilo.org/ilostat-files/WEB_bulk_download/html/bulk_indicator.html, accessed 14 December 2023.

Employment, Industry (% of total employment) - Employees are people who work for a public or private employer and receive remuneration in wages, salary, commission, tips, piece rates, or pay in kind. Industry includes mining and quarrying, manufacturing, construction, and public utilities (electricity, gas, and water). It corresponds to International Standard Industrial Classification divisions 2-5 (ISIC revision 2) or tabulation categories C-F (ISIC revision 3), or categories B-F (ISIC revision 4). Data shown are the share of total employment. APEC aggregate is a weighted average based on total employment data from the source. Note that total share of employment from agriculture, industry and services may not add up to 100 percent because some economies have a significant share of employment which are categorized as not adequately defined.

Source: International Labour Organization, ILOSTAT, available at https://www.ilo.org/ilostat-files/WEB_bulk_download/html/bulk_indicator.html, accessed 14 December 2023.

Employment, Services (% of total employment) - Employees are people who work for a public or private employer and receive remuneration in wages, salary, commission, tips, piece rates, or pay in kind. Services includes wholesale and retail trade and restaurants and hotels; transport, storage, and communications; financing, insurance, real estate, and business services; and community, social, and personal services. It corresponds to International Standard Industrial Classification divisions 6-9 (ISIC revision 2) or tabulation categories G-Q (ISIC revision 3), or categories G-U (ISIC revision 4). Data shown are the share of total employment. APEC aggregate is a weighted average based on total employment data from the source. Note that total share of employment from agriculture, industry and services may not add up to 100 percent because some economies have a significant share of employment which are categorized as not adequately defined.

Source: International Labour Organization, ILOSTAT, available at https://www.ilo.org/ilostat-files/WEB_bulk_download/html/bulk_indicator.html, accessed 14 December 2023.

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Trade (13 indicators)

Merchandise Goods Trade - Total merchandise goods trade is defined according to the general trade definition. It covers all types of inward and outward movement of goods through an economy including movements through customs warehouses and free zones. Unless otherwise indicated, imports are valued at transaction value plus the cost of transportation and insurance to the frontier of the importing economy (c.i.f. valuation). Exports are valued at transaction value, including the cost of transportation and insurance to bring the merchandise to the frontier of the exporting economy (f.o.b. valuation). Data on imports and exports of merchandise goods shown are in current US dollars, in millions. APEC aggregates are sums based on data available. Merchandise goods trade as a share of GDP is the sum of merchandise goods exports and imports (in current US dollars) divided by the value of GDP (GDP, Current USD). APEC aggregate is a weighted average based on GDP, Current USD (for comparability, an economy’s GDP data is excluded from the denominator if its data for merchandise goods trade is missing).

Source: World Trade Organization, WTO Data Portal, available at https://stats.wto.org/, accessed 15 December 2023.

Commercial Services Trade - In the fifth edition of the Balance of Payments Manual, the current account is subdivided into goods, services (including government services, n.i.e.), income (investment income and compensation of employees), and current transfers. Commercial services trade is defined as being equal to services minus government services, n.i.e. Exports (credits) and imports (debits) of commercial services are derived from statistics on international service transactions included in the balance of payments statistics, in conformity with the concepts, definitions and classification of the fourth (1977) or fifth (1993) edition of the IMF Balance of Payments Manual.
Data on imports and exports of commercial services shown are in current US dollars, in millions. APEC aggregates are sums based on data available. Commercial services trade as a share of GDP is the sum of commercial services exports and imports (in current US dollars) divided by the value of GDP (GDP, Current USD). APEC aggregate is a weighted average based on GDP, Current USD (for comparability, an economy’s GDP data is excluded from the denominator if its data for commercial services trade is missing).

Source: World Trade Organization, WTO Data Portal, available at https://stats.wto.org/, accessed 15 December 2023.

Data on imports and exports of merchandise goods and commercial services are also shown in current US dollars (in millions) and the share of GDP. APEC aggregates for imports and exports of merchandise goods and commercial services in current US dollars (in millions) are sums based on data available. APEC aggregates for imports and exports of merchandise goods and commercial services as a share of GDP are weighted averages based on GDP, Current USD (for comparability, an economy’s GDP data is excluded from the denominator if its data for imports and exports of merchandise goods and commercial services is missing).

Source: World Trade Organization, WTO Data Portal, available at https://stats.wto.org/, accessed 15 December 2023.

Current Account Balance - Current account balance is the sum of net exports of goods, and services, net primary income, and net secondary income. Data shown are in current US dollars (in millions) and the share of GDP. APEC aggregate for current account balance in current US dollars (in millions) is a sum based on data available. APEC aggregate for current account balance as a share of GDP is a weighted average based on GDP, Current USD [for comparability, the denominator includes only data from economies with data for Current Account Balance (in current USD millions)].

Source: International Monetary Fund, Balance of Payments Statistics, available at https://data.imf.org/regular.aspx?key=61468206, accessed 15 December 2023 and Chinese Taipei's Central Bank https://cpx.cbc.gov.tw/Tree/TreeSelect, accessed 13 December 2023.

Net Barter Terms of Trade Index - Net barter terms of trade index is calculated as the percentage ratio of the export unit value indexes to the import unit value indexes, measured relative to the base year 2015 (except for Chinese Taipei that has a base year of 2016).

Source: World Bank, World Development Indicators (Primary Source: United Nations Conference on Trade and Development and International Monetary Fund), available at https://data.worldbank.org/indicator/TT.PRI.MRCH.XD.WD, accessed 15 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 18 April 2023.

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Trade Barriers (9 indicators)

MFN Applied Tariff - The most favored nation (MFN) tariff is the normal, non-discriminatory tariff charged on imports (excludes preferential tariffs under free trade agreements and other schemes or tariffs charged inside quotas). Only duties and imports recorded under HS Chapters 01-97 are taken into account. Each applied tariff schedule is validated against the standard nomenclature at the HS 6-digit subheading level of the HS version adopted by the economy for the reference year. Hence, all calculations are based on the complete standard nomenclature. All simple averages are based on pre-aggregated HS 6-digit averages. Pre-aggregation means that duties at the tariff line level are first averaged to HS 6-digit subheadings. Subsequent calculations are based on these pre-aggregated averages. To the extent possible, non-ad valorem duties are converted into ad valorem equivalents.

Also shown are duty-free MFN applied tariffs as a percentage share of HS 6-digit subheadings in the total number of subheadings in the product group. Partially duty-free subheadings are taken into account on a pro rata basis.

Simple average MFN applied tariff rates and duty-free MFN applied tariffs as a share of HS 6-digit subheadings are shown for all products, agricultural products, and non-agricultural products. The classification of products into agricultural and non-agricultural is based on Annex 1 of the WTO Agreement on Agriculture, which lists all products covered in the Agreement. APEC aggregate is a simple average using the latest data available for each economy.

Source: World Trade Organization, WTO Data Portal, available at https://www.wto.org/english/res_e/reser_e/tariff_profiles_e.htm, accessed 14 December 2023.

Economic Freedom of the World Index, Mean Tariff Rate - The Economic Freedom of the World Index measures the degree to which the policies and institutions of economies are supportive of economic freedom. A number of variables are used to construct a summary index and to measure the degree of economic freedom in five broad areas, one of which is the freedom to trade internationally. The mean tariff rate measure is a variable used to construct the freedom to trade internationally component of the Economic Freedom of the World Index. It is based on the unweighted mean of tariff rates. The formula used to calculate the rating, which can range from 0 to 10, is: (Vmax - Vi) / (Vmax - Vmin) multiplied by 10, where Vi represents an economy's mean tariff rate. The values for Vmin and Vmax were set at 0% and 50%, respectively. This formula will allocate a rating of 10 to economies that do not impose tariffs. The rating will decline toward zero as the mean tariff rate approaches 50%. Data shown are ratings. APEC aggregate is a simple average of ratings available for each APEC economy.

Source: James Gwartney, Robert Lawson, Joshua Hall, and Ryan Murphy (2023). Economic Freedom of the World: 2023 Annual Report. Fraser Institute. Data are from the 2023 Dataset, available at https://www.fraserinstitute.org/economic-freedom/dataset, accessed 15 December 2023.

Economic Freedom of the World Index, Non-tariff Trade Barriers - The Economic Freedom of the World Index measures the degree to which the policies and institutions of economies are supportive of economic freedom. A number of variables are used to construct a summary index and to measure the degree of economic freedom in five broad areas, one of which is the freedom to trade internationally. The non-tariff trade barriers measure is a variable used to construct the freedom to trade internationally component of the Economic Freedom of the World Index. It is based on the Global Competitiveness Report survey question: “In your [economy], tariff and non-tariff barriers significantly reduce the ability of imported goods to compete in the domestic market. 1-7 (best)”. The question’s wording has varied slightly over the years. Note, notwithstanding the sub-component’s title, this indicator captures both tariff and non-tariff barriers. Data shown are ratings. APEC aggregate is a simple average of ratings available for each APEC economy.

Source: James Gwartney, Robert Lawson, Joshua Hall, and Ryan Murphy (2023). Economic Freedom of the World: 2023 Annual Report.Fraser Institute. Data are from the 2023 Dataset, available at https://www.fraserinstitute.org/economic-freedom/dataset, accessed 15 December 2023.

Ease of Doing Business Index, Trading Across Borders - The Doing Business (DB) annual reports provide a quantitative measure of business regulations and the protection of property rights across 10 indicators as they apply to domestic small and medium-size enterprises. Trading across borders, which is one of the 10 indicators, measures the documents, time, and cost required to import and export a standardized cargo of goods by ocean transport. Data shown are distance to frontier and obtained online. For a particular year, it refers to data from the following year. For instance, the data for year 2016 are from the DB2017. For several economies, data from 2014 onwards pertains to the combined scores of the largest and second largest cities. APEC aggregate is a simple average of ratings available for each APEC economy.

Source: World Bank and International Finance Corporation, Doing Business, available at http://www.doingbusiness.org/. The Doing Business project has been discontinued. Data reported are archived data.

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Foreign Direct Investment (FDI) (8 indicators)

Foreign direct investment is defined as an investment reflecting a lasting interest and control by a foreign direct investor, resident in one economy, in an enterprise resident in another economy (foreign affiliate).

FDI Flows

FDI inflows comprise capital provided by a foreign direct investor to a foreign affiliate, or capital received by a foreign direct investor from a foreign affiliate. FDI outflows represent the same flows from the perspective of the other economy. FDI flows are presented on a net basis (i.e., as credits less debits). Thus, in cases of reverse investment or disinvestment, FDI may be negative.

Data on inward and outward FDI flows shown are in current US dollars (in millions) and the share of gross fixed capital formation (GFCF). GFCF includes land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; and the construction of roads, railways, and the like, including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. According to the 1993 SNA, net acquisitions of valuables are also considered capital formation. APEC aggregates are from the data sourceis a sum based on data available and a weighted average based on GFCF (current U.S. dollars). The APEC aggregate for FDI flows as a share of GFCF does not include data for Chinese Taipei due to partial data unavailability.

Source: United Nations Conference on Trade and Development, Foreign Direct Investment Database, available at https://unctadstat.unctad.org/EN/BulkDownload.html, accessed 27 December 2023.

FDI Stocks

FDI stock is the value of capital and reserves attributable to a non-resident parent enterprise, plus the net indebtedness of foreign affiliates to parent enterprises.

Data on inward and outward FDI stocks shown are in current US dollars millions and the share of GDP. APEC aggregates is a sum based on data available and a weighted average based on GDP (current U.S. dollars)

Source: United Nations Conference on Trade and Development, Foreign Direct Investment Database, available at https://unctadstat.unctad.org/EN/BulkDownload.html, accessed 27 December 2023.

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Movement of People (9 indicators)

International Tourism Arrivals (in thousands) - International inbound tourists (overnight visitors) are the number of tourists who travel to an economy other than that in which they usually reside, and outside their usual environment, for a period not exceeding 12 months and whose main purpose in visiting is other than an activity remunerated from within the economy visited. When data on number of tourists are not available, the number of visitors, which includes tourists, same-day visitors, cruise passengers, and crew members, is shown instead. Sources and collection methods for arrivals differ across economies. In some cases, data are from border statistics (police, immigration, and the like) and supplemented by border surveys. In other cases, data are from tourism accommodation establishments. For some economies number of arrivals is limited to arrivals by air and for others to arrivals staying in hotels. Some economies include arrivals of nationals residing abroad while others do not. Caution should thus be used in comparing arrivals across economies. The data on inbound tourists refer to the number of arrivals, not to the number of people travelling. Thus, a person who makes several trips to an economy during a given period is counted each time as a new arrival. Data shown are in thousands of people. APEC aggregate is a sum based on data available.

Source: World Bank, World Development Indicators (Primary Source: World Tourism Organization), available at https://data.worldbank.org/indicator/ST.INT.ARVL, accessed 15 December 2023. Chinese Taipei's Ministry of Transportation and Communications, available at https://stat.motc.gov.tw/mocdb/stmain.jsp?sys=100&funid=emenu, accessed 13 December 2023.

International Tourism Receipts (% of total exports) - International tourism receipts are expenditures by international inbound visitors, including payments to national carriers for international transport. These receipts include any other prepayment made for goods or services received in the destination economy. They also may include receipts from same-day visitors, except when these are important enough to justify separate classification. For some economies they do not include receipts for passenger transport items. Their share in exports is calculated as a ratio to exports of goods and services, which comprise all transactions between residents of an economy and the rest of the world involving a change of ownership from residents to non-residents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services. Data shown are in percentages. APEC aggregate is a weighted average based on Exports of Goods and Services.

Source: World Bank, World Development Indicators (Primary Source: World Tourism Organization), available at https://data.worldbank.org/indicator/ST.INT.RCPT.XP.ZS, accessed 15 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 24 May 2023.

International Tourism Expenditures (% of total imports) - International tourism expenditures are expenditures of international outbound visitors in other economies, including payments to foreign carriers for international transport. These expenditures may include those by residents travelling abroad as same-day visitors, except in cases where these are important enough to justify separate classification. For some economies they do not include expenditures for passenger transport items. Their share in imports is calculated as a ratio to imports of goods and services, which comprise all transactions between residents of an economy and the rest of the world involving a change of ownership from non-residents to residents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services. APEC aggregate is a weighted average based on Imports of Goods and Services.

Source: World Bank, World Development Indicators (Primary Source: World Tourism Organization), available at https://data.worldbank.org/indicator/ST.INT.XPND.MP.ZS, accessed 15 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 24 May 2023.

Travel & Tourism Development Index (score) – This indicator reports data for the Travel & Tourism Development Index (TTDI) and for the Travel & Tourism Competitiveness Index (TTCI). The TTDI is a direct evolution of the TTCI, which was reported until 2019. Due to the altered methodology, framework, and other differences, the TTDI should not be compared to the TTCI. Data shown are scores ranging from a minimum value of 1 to a maximum value of 7.
The TTCI (2007–2019) measures the different regulatory and business-related issues that have been identified as levers for improving travel and tourism competitiveness. It is based on three broad categories that facilitate or drive travel and tourism competitiveness, which are the three subindexes of the TTCI: (1) the travel and tourism regulatory framework; (2) the travel and tourism business environment and infrastructure; and (3) the travel and tourism human, cultural, and natural resources. Each of these three subindexes is in turn composed of a number of pillars of travel and tourism competitiveness, of which there are 14 in total.
The TTDI (2021 onwards) benchmarks and measures “the set of factors and policies that enable the sustainable and resilient development of the Travel & Tourism (T&T) sector, which in turn contributes to the development of an economy”.

Source: World Economic Forum, The Travel & Tourism Competitiveness Report, various annual editions, are based on archived data; World Economic Forum, The Travel & Tourism Development Index 2021: Rebuilding for a Sustainable and Resilient Future, available at https://www.weforum.org/reports/travel-and-tourism-development-index-2021#report-nav, accessed 15 December 2023.

International Migrant Stock - International migrant stock is the number of people born in an economy other than that in which they live. It also includes refugees. Data shown are estimates of the number of international migrants in an economy as at mid-year (1 July). The data used to estimate the international migrant stock are obtained mainly from population censuses and are derived from the data on foreign-born population—people who have residence in one economy but were born in another economy. When data on the foreign-born population are not available, data on foreign population—people who are citizens of an economy other than the economy in which they reside—are used as estimates. For economies with information on the international migrant stock for at least two points in time, interpolation or extrapolation was used to estimate the international migrant stock on July 1 of the reference years. For economies with only one observation, estimates for the reference years were derived using rates of change in the migrant stock in the years preceding or following the single observation available. A model was used to estimate migrants for economies that had no data. Data shown are in thousands of people and as a share of the total population. APEC aggregate for international migrant stock in thousands of people is a sum based on data available. APEC aggregate for international migrant stock as a share of total population is a weighted average based on Total Population.

Source: United Nations, Department of Economic and Social Affairs, Population Division, Trends in International Migrant Stock: The 2019 Revision, available at https://www.un.org/en/development/desa/population/migration/data/estimates2/estimates19.asp and
https://www.un.org/development/desa/pd/content/international-migrant-stock, accessed 15 December 2023. Chinese Taipei’s Ministry of the Interior, available at https://ws.moi.gov.tw/001/Upload/400/relfile/0/4405/48349492-6f8c-453b-a9d1-4a8f0593b979/year/year_en.html, accessed 13 December 2023.

Personal Remittances - Personal remittances is the sum of personal transfers and compensation of employees. Personal transfers, a new item in the sixth edition of the Balance of Payments Manual (BPM6), represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and non-resident individuals, independent of the source of income of the sender (and regardless of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (regardless of whether they are related or unrelated individuals). Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by non-resident entities. Data shown for Chinese Taipei are provided by Chinese Taipei and may not be strictly comparable with the data shown for all other APEC economies. Data on personal remittances paid and received shown are in current US dollars (in millions). Personal remittances received is also shown as a share of GDP. APEC aggregates for personal remittances paid and received in current US dollars (in millions) are sums based on data available. APEC aggregate for personal remittances received as a share of GDP is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 15 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 24 May 2023.

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Finance (9 indicators)

Market Capitalization of Listed Companies (% of GDP) - Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data shown are end of year values, in percentages. APEC aggregate is a weighted average based on Gross Domestic Product, Current USD.

Source: World Bank, World Development Indicators (Primary Source: World Federation of Exchanges database), available at https://data.worldbank.org/indicator/CM.MKT.LCAP.GD.ZS, accessed 15 December 2023. Chinese Taipei’s Stock Exchange Corporation, available at https://www.twse.com.tw/zh/page/about/company/factbooks.html, accessed 14 December 2023.

S&P Global Equity Indices (annual % change) - S&P Global Equity Indices measure the US dollar price change in the stock markets covered by the S&P/IFCI and S&P/Frontier BMI country indices. Data shown are the annual percentage changes in the S&P Global Equity Indices.

Source: World Bank, World Development Indicators (Primary Source: Standard & Poor's), available at https://data.worldbank.org/indicator/CM.MKT.INDX.ZG, accessed 15 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 9 June 2023.

Real Interest Rate (%) - Real interest rate is the lending interest rate adjusted for inflation as measured by the Gross Domestic Product deflator. The terms and conditions attached to lending rates differ by economy, however, limiting their comparability.

Source: World Bank, World Development Indicators (Primary Source: International Monetary Fund), available at https://data.worldbank.org/indicator/FR.INR.RINR, accessed 15 December 2023. Chinese Taipei's Central Bank, available at https://www.cbc.gov.tw/en/cp-511-2069-A8BEF-2.html, accessed 14 December 2023.

Total Reserves - International reserves comprise special drawing rights, reserves of IMF members held by the IMF, and holdings of foreign exchange under the control of monetary authorities. Monetary authorities comprise central banks and, to the extent that they perform monetary authorities’ functions, currency boards, exchange stabilization funds, and treasuries. Foreign exchange includes monetary authorities’ claims on nonresidents in the form of foreign banknotes, bank deposits, treasury bills, short- and long-term government securities, ECUs (for periods before January 1999), and other claims usable in the event of balance of payments need. Total international reserves are valued at the end of the year and are shown in current US dollars millions. When gold holdings are included, the gold component of these reserves is valued at year-end (December 31) London gold prices. APEC aggregates are sums based on data available.

Source: International Monetary Fund, International Financial Statistics, available at https://data.imf.org/?sk=4c514d48-b6ba-49ed-8ab9-52b0c1a0179b&sId=1390030341854, accessed 15 December 2023.

Public Sector Revenue (% of GDP) - Revenue is cash receipts from taxes, social contributions, and other revenues such as fines, fees, rent, and income from property or sales. Grants are also considered as revenue but are excluded here. Data shown are the share of Gross Domestic Product (GDP). APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators (Primary Source: International Monetary Fund), available at https://data.worldbank.org/indicator/GC.REV.XGRT.GD.ZS, accessed 15 December 2023. Chinese Taipei’s Ministry of Finance, available at http://web02.mof.gov.tw/njswww/webmain.aspx?sys=100&funid=edefjspf2, accessed 14 December 2023.

Public Sector Expense (% of GDP) - Expense is cash payments for operating activities of the government in providing goods and services. It includes compensation of employees (such as wages and salaries), interest and subsidies, grants, social benefits, and other expenses such as rent and dividends. Data shown are the share of Gross Domestic Product (GDP). APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators (Primary Source: International Monetary Fund), available at https://data.worldbank.org/indicator/GC.XPN.TOTL.GD.ZS, accessed 15 December 2023. Chinese Taipei's Ministry of Finance, available at http://web02.mof.gov.tw/njswww/webmain.aspx?sys=100&funid=edefjspf2, accessed 14 December 2023.

Public Sector Tax Revenue (% of GDP) - Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue. Data shown are the share of Gross Domestic Product (GDP). APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators (Primary Source: International Monetary Fund), available at https://data.worldbank.org/indicator/GC.TAX.TOTL.GD.ZS, accessed 15 December 2023. Chinese Taipei's Ministry of Finance, available at http://web02.mof.gov.tw/njswww/webmain.aspx?sys=100&funid=edefjspf2, accessed 14 December 2023.

Public Sector Cash Surplus/Deficit (% of GDP) - Net lending (+) / net borrowing (-) equals government revenue minus expense, minus net investment in nonfinancial assets. It is also equal to the net result of transactions in financial assets and liabilities. Net lending/net borrowing is a summary measure indicating the extent to which government is either putting financial resources at the disposal of other sectors in the economy or abroad, or utilizing the financial resources generated by other sectors in the economy or abroad. Data shown are the share of Gross Domestic Product (GDP). APEC aggregate is a weighted average based on GDP, Current USD.

Source: World Bank, World Development Indicators (Primary Source: International Monetary Fund), available at https://data.worldbank.org/indicator/GC.NLD.TOTL.GD.ZS, accessed 15 December 2023. Chinese Taipei's Ministry of Finance, available at http://web02.mof.gov.tw/njswww/webmain.aspx?sys=100&funid=edefjspf2, accessed 14 December 2023.

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Education (12 indicators)

School Life Expectancy - The total number of years of schooling which a child of a certain age can expect to receive in the future, assuming that the probability of his or her being enrolled in school at any particular age is equal to the current enrolment ratio for that age. It shows the overall level of development of an educational system in terms of the average number of years of schooling that the education system offers to the eligible population, including those who never enter school. A relatively high school life expectancy indicates greater probability for children to spend more years in education and higher overall retention within the education system. It must be noted that the expected number of years does not necessarily coincide with the expected number of grades of education completed, because of repetition. Since school life expectancy is an average based on participation in different levels of education, the expected number of years of schooling may be pulled down by the magnitude of children who never go to school. Those children who are in school may benefit from many more years of education than the average. Caution is required when making cross-economy comparisons; neither the length of the school year nor the quality of education is necessarily the same in each economy. In addition, as this indicator does not directly take into account the effects of repetition, it is not strictly comparable between economies with automatic promotion and those that allow grade repetition. Data are disaggregated by sex.

Source: United Nations Educational, Scientific and Cultural Organization, Institute for Statistics, Data Centre, available at http://data.uis.unesco.org/, accessed 14 December 2023. Chinese Taipei's Ministry of Education, available at https://english.moe.gov.tw/cp-87-14508-95005-1.html, accessed 18 December 2023.

Gross Enrolment Ratio - Total enrolment in a specific level of education, regardless of age, expressed as a percentage of the eligible official school-age population corresponding to the same level of education in a given school year. It shows the general level of participation in a given level of education and indicates the capacity of the education system to enroll students of a particular age group. It can also be a complementary indicator to net enrolment rate by indicating the extent of over-aged and under-aged enrolment. A high gross enrolment ratio generally indicates a high degree of participation, whether the pupils belong to the official age group or not. A value approaching or exceeding 100% indicates that an economy is, in principle, able to accommodate all of its school-age population, but it does not indicate the proportion already enrolled. It can exceed 100% due to the inclusion of over-aged and under-aged pupils because of early or late entrants, and grade repetition. Data on gross enrolment ratios at the secondary and tertiary levels of education disaggregated by sex are shown. For the tertiary level, the population used is that of the five-year age group following on from the secondary school leaving.

Source: United Nations Educational, Scientific and Cultural Organization, Institute for Statistics, Data Centre, available at http://data.uis.unesco.org/, accessed 14 December 2023. Chinese Taipei's Ministry of Education, available at https://english.moe.gov.tw/cp-86-18943-e698b-1.html, accessed 18 December 2023.

Net Enrolment Rate - Enrolment of the official age group for a given level of education expressed as a percentage of the corresponding population. It shows the extent of coverage in a given level of education of children belonging to the official age group corresponding to the given level of education. A high net enrolment rate denotes a high degree of coverage for the official school-age population. The theoretical maximum value is 100%. Increasing trends can be considered as reflecting improving coverage at the specified level of education. When the net enrolment rate is compared with the gross enrolment ratio, the difference between the two highlights the incidence of under-aged and over-aged enrolment. If the net enrolment rate is below 100%, then the difference with 100% provides a measure of the proportion of children not enrolled at the specified level of education. However, since some of these children could be enrolled at other levels of education, this difference should in no way be considered as indicating the percentage of students not enrolled. Data on the net enrolment rate at the lower secondary and at the upper secondary levels of education disaggregated by sex are shown.

Source: United Nations Educational, Scientific and Cultural Organization, Institute for Statistics, Data Centre, available at http://data.uis.unesco.org/, accessed 14 December 2023. Chinese Taipei's Ministry of Education, available at https://english.moe.gov.tw/cp-86-18943-e698b-1.html, accessed 18 December 2023.

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Environment (6 indicators)

Adjusted savings: net forest depletion - Net forest depletion is calculated as the product of unit resource rents and the excess of roundwood harvest over natural growth. Data shown are in current US dollars (in millions) and as a percentage of GNI. In the case of current US dollars (in millions), APEC aggregate is a sum based on data available, while in the case of percentage of GNI, APEC aggregate is a weighted average based on data available and GNI, PPP, current international dollars from the source.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 14 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 14 June 2023.

Adjusted savings: carbon dioxide damage - Cost of damage due to carbon dioxide emissions from fossil fuel use and the manufacture of cement, estimated to be US$40 per ton of CO2 (the unit damage in 2017 US dollars for CO2 emitted in 2020) times the number of tons of CO2 emitted. Data shown are in current US dollars (in millions) and as percentage of GNI. In the case of current US dollars (in millions), APEC aggregate is a sum based on data available, while in the case of percentage of GNI, APEC aggregate is a weighted average based on data available and GNI, PPP, current international dollars from the source.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 14 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 14 June 2023.

CO2 Emissions - CO2 emissions represents the mass of carbon dioxide (CO2), a potent greenhouse gas, produced during the combustion of solid, liquid, and gaseous fuels, as well as from the manufacture of cement (in which it is produced as a byproduct) and gas flaring. The data on CO2 emissions do not include emissions from land use change or from bunker fuels used in international transportation. Data shown include CO2 emissions per GDP, or CO2 intensity, which measures the quantity of CO2 released into the atmosphere for each unit of GDP in an economy. (GDP measures the total output of goods and services for final use occurring within the domestic territory of a given economy, regardless of the allocation to domestic and foreign claims.) Data shown for Chinese Taipei are provided by Chinese Taipei and may not be strictly comparable with the data shown for all other APEC economies. Data shown are in metric tons of CO2 per million constant 2017 international dollars of GDP. Also shown are CO2 emissions per capita in metric tons of CO2 per person. APEC aggregates are weighted averages based on total population and GDP, PPP, constant 2017 international dollars data from the World Bank’s World Development Indicators.

Source: Climate Watch Global Historical Emissions (Washington, DC: World Resources Institute, 2023), available at https://www.climatewatchdata.org/ghg-emissions, accessed 14 December 2023. Chinese Taipei’s data directly provided by Chinese Taipei, accessed 14 June 2023 (CO2 emissions per GDP) and 1 September 2022 (CO2 emissions per capita, in metric tons).

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Information & Communications (6 indicators)

Internet Subscriptions (per 100 inhabitants) - The number of total Internet subscriptions with fixed (wired) Internet access, which includes all dial-up and total fixed (wired) broadband subscriptions. Only active subscriptions that have used the system within the past three months should be included. Data shown are the number of Internet subscriptions per 100 inhabitants. APEC aggregate is a weighted average based on total population data from the source.

Source: International Telecommunication Union. Data is no longer available from source, thus, archived data is reported instead.

Internet Subscriptions, Broadband (per 100 inhabitants) - Fixed broadband subscriptions refers to fixed subscriptions to high-speed access to the public Internet (a TCP/IP connection), at downstream speeds equal to, or greater than, 256 kbit/s. This can include, for example, cable modem, DSL, fiber-to-the-home/building, and other fixed (wired) broadband subscriptions. This total is measured irrespective of the method of payment. It excludes subscriptions that have access to data communications (including the Internet) via mobile cellular networks. It should include fixed WiMAX and any other fixed wireless technologies. It includes both residential subscriptions and subscriptions for organizations. Data shown are the number of fixed broadband Internet subscriptions per 100 inhabitants. APEC aggregate is a weighted average based on total population data from the source.

Source: World Bank, World Development Indicators (Primary Source: International Telecommunication Union), available at https://data.worldbank.org/indicator/IT.NET.BBND.P2 , accessed 18 December 2023. Chinese Taipei's data is from International Telecommunication Union, available at https://datahub.itu.int/query/, accessed 27 December 2023.

Internet Users (% of total population) - Internet users are individuals who have used the Internet (from any location) in the last 3 months. The Internet can be used via a computer, mobile phone, personal digital assistant, games machine, digital TV etc. Data shown are in percentages. APEC aggregate is a weighted average based on total population data from the source.

Source: World Bank, World Development Indicators (Primary Source: International Telecommunication Union), available at https://data.worldbank.org/indicator/IT.NET.USER.ZS, accessed 18 December 2023. Chinese Taipei's data is from International Telecommunication Union, available at https://datahub.itu.int/query/, accessed 27 December 2023.

Mobile Cellular Subscriptions - Mobile cellular telephone subscriptions are subscriptions to a public mobile telephone service that provide access to the PSTN using cellular technology. The indicator includes (and is split into) the number of postpaid subscriptions, and the number of active prepaid accounts (i.e., that have been used during the last three months). The indicator applies to all mobile cellular subscriptions that offer voice communications. It excludes subscriptions via data cards or USB modems, subscriptions to public mobile data services, private trunked mobile radio, telepoint, radio paging and telemetry services. Data shown are the number of mobile cellular subscriptions per 100 inhabitants and as a ratio to fixed telephone lines. APEC aggregates are weighted averages based on total population and total fixed telephone lines data from the source.

Source: World Bank, World Development Indicators (Primary Source: International Telecommunication Union), available at https://data.worldbank.org/indicator/IT.CEL.SETS.P2, accessed 18 December 2023. Chinese Taipei's data is from International Telecommunication Union, available at https://datahub.itu.int/query/, accessed 27 December 2023.

Networked Readiness Index - The Network Readiness Index (NRI) is a composite index constructed with three levels. The primary level consists of four pillars that make up the fundamental dimensions of network readiness. Each of the fundamental pillars divides into additional sub-pillars that constitute the second level. The third level consists of individual indicators distributed across the different sub-pillars and pillars of the primary and secondary levels. All indicators used within the NRI belong to a pillar and a sub-pillar.
The NRI, previously called the Networked Readiness Index, was initially launched in 2002 with the World Economic Forum. The old methodology (used from 2016 and earlier) examines how prepared economies are to effectively use ICT in four dimensions: the environment for ICT; the readiness of a society to use ICT; the actual usage of all main stakeholders; and the impacts that ICT generates in the economy and society. The NRI is a composite index based on a total of 10 pillars, which in turn are made up of a variety of measures. Data prior to 2016 are scores are on a scale from 1 (worst possible outcome) to 7 (best possible outcome). Due to a change in methodology, data shown for 2005 and 2006 are scores that have been standardized with a mean of 0. For these years, if the score of an economy is positive, then that economy performs better than the mean performance across the total set of economies in the index. Likewise, a negative score implies that the economy's performance is below the mean performance.

Source: World Economic Forum, The Global Information Technology Report, various annual editions, are based on archived data; Portulans Institute, The Network Readiness Index Report, various annual editions, available at https://networkreadinessindex.org/, accessed 15 December 2023.

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Quality of Life (7 indicators)

Life Expectancy at Birth - Life expectancy at birth indicates the number of years a newborn infant would live if prevailing patterns of mortality at the time of its birth were to stay the same throughout its life. Data are disaggregated by sex. APEC aggregate for life expectancy at birth for the total population is a weighted average based on Total Population. APEC aggregates for life expectancy at birth disaggregated by sex are weighted averages based on population data disaggregated by sex from the source.

Source: World Bank, World Development Indicators, available at http://data.worldbank.org/, accessed 15 December 2023. Chinese Taipei’s Ministry of the Interior, available at https://ws.moi.gov.tw/001/Upload/400/relfile/0/4405/48349492-6f8c-453b-a9d1-4a8f0593b979/year/year_en.html, accessed 13 December 2023.

Human Development Index Trends - The Human Development Index (HDI) is a composite index that measures the average achievements in an economy in three basic dimensions of human development: a long and healthy life, access to knowledge, and a decent standard of living. Health is measured by life expectancy at birth; knowledge is measured by a combination of the adult literacy rate and the combined primary, secondary, and tertiary gross enrolment ratio; and standard of living is measured by Gross Domestic Product (GDP) per capita in USD at purchasing power parity (PPP). In order to make comparisons over time possible, this series shows HDI Trends data, which uses the latest HDI methodology and most up-to-date trend data for each component of the index. Data shown for Chinese Taipei are calculated and provided by Chinese Taipei and may not be strictly comparable with the data shown for all other APEC economies and across years due to change in methodology between years. Data shown are values and range from a minimum of 0 to a maximum of 1.

Source: United Nations Development Programme, Human Development Report, various annual editions, available at https://hdr.undp.org/data-center/documentation-and-downloads, accessed 15 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at http://eng.stat.gov.tw/ct.asp?xItem=25280&ctNode=6032&mp=5, accessed 13 December 2023.

Gender Inequality Index - The Gender Inequality Index (GII) shows the loss in human development due to inequality between female and male achievements in three dimensions - reproductive health, empowerment and the labor market. The health dimension is measured by two indicators: maternal mortality ratio and the adolescent fertility rate. The empowerment dimension is also measured by two indicators: the share of parliamentary seats held by each sex and by secondary and higher education attainment levels. The labor dimension is measured by women's participation in the work force. Data shown for Chinese Taipei are calculated and provided by Chinese Taipei and may not be strictly comparable with the data shown for all other APEC economies and across years due to change in methodology between years. Data shown are values and range from a minimum of 0, which indicates that women and men fare equally, to a maximum of 1, which indicates that women fare as poorly as possible in all measured dimensions.

Source: United Nations Development Programme, Human Development Report, various annual editions, available at https://hdr.undp.org/data-center/documentation-and-downloads, accessed 15 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at http://eng.stat.gov.tw/ct.asp?xItem=25280&ctNode=6032&mp=5, accessed 15 June 2023.

Global Gender Gap Index - The Global Gender Gap Index examines the gap between men and women in four fundamental categories (subindexes) and 14 different indicators that compose them. The subindexes are economic participation and opportunity, educational attainment, health and survival, and political empowerment. The highest possible score Is 1 (equality) and the lowest possible score is 0 (inequality). There are three basic concepts underlying the Global Gender Gap Index, forming the basis of how indicators were chosen, how the data is treated, and the scale used. First, the Index focuses on measuring gaps rather than levels. Second, it captures gaps in outcome variables rather than gaps in input variables. Third, it ranks economies according to gender equality rather than women’s empowerment. Data shown for Chinese Taipei are calculated and provided by Chinese Taipei and may not be strictly comparable with the data shown for all other APEC economies. Data shown are scores reported on a scale from 0 to 1, with 1 representing maximum gender equality.

Source: World Economic Forum, The Global Gender Gap Report, various annual editions, available at https://tcdata360.worldbank.org/indicators/af52ebe9?country=AUS&indicator=27959&viz=line_chart&years=2006,2020, accessed 15 December 2023. Chinese Taipei's Directorate-General of Budget, Accounting and Statistics, available at http://eng.stat.gov.tw/ct.asp?xItem=25280&ctNode=6032&mp=5, accessed 15 June 2023.

Gender Equity Index - The Gender Equity Index (GEI) measures the gender gap according to a selection of indicators relevant to gender inequity in three different dimensions: education, participation in the economy, and empowerment. The GEI measures the gap between women and men, not their welfare. For example, an economy where both boys and girls have equal access to university studies would rank 100 in this aspect, and an economy where both boys and girls are equally unable to complete primary school would also rank 100. Data shown for Chinese Taipei have been calculated and provided by Chinese Taipei and may not be strictly comparable with the data shown for all other APEC economies. Data shown are values with a maximum possible value of 100, which would indicate no gender gap at all in each of the three dimensions. A value of 0 would indicate the least degree of equity. Due to a change in methodology, data shown for 2005 are values that range from 1 to 12 and are based on a ranking system that depends on relative performance, so economies that have moved closer to equity are awarded a higher score.

Source: Social Watch, Gender Equity Index, various annual releases, are based on archived data. Chinese Taipei’s Directorate-General of Budget, Accounting and Statistics, are based on archived data.

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Policy-related (8 indicators)

Economic Freedom of the World Index (rating) - The Economic Freedom of the World (EFW) Index measures the degree to which the policies and institutions of economies are supportive of economic freedom. The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to compete, and security of privately owned property. A number of variables are used to construct a summary index and to measure the degree of economic freedom in five broad areas: (1) size of government; (2) legal structure and security of property rights; (3) access to sound money; (4) freedom to trade internationally; and (5) regulation of credit, labor and business. Data shown are ratings from the Panel Dataset, which reports area and summary ratings for all economies for which they have a regular EFW index score in any given year. The EFW Panel Dataset attempt to provide scholars with consistent time-series/longitudinal data. The index ranges between 10 and 0; a higher rating indicates a greater degree of economic freedom. APEC aggregate is a simple average of ratings available for each APEC economy.

Source: James Gwartney, Robert Lawson, Joshua Hall, and Ryan Murphy (2023). Fraser Institute. Data are from the 2023 Dataset, available at https://www.fraserinstitute.org/economic-freedom/dataset?geozone=world&page=dataset&min-year=2&max-year=0&filter=0, accessed 28 December 2023.

Ease of Doing Business Index (Rank) - The Doing Business annual reports provide a quantitative measure of business regulations and the protection of property rights across 10 indicators as they apply to domestic small and medium-size enterprises: starting a business, dealing with construction permits, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, and closing a business. The Ease of Doing Business Index averages the economy's percentile rankings on the 10 indicators, which in turn are ease of doing business with first place being the best; a high ranking means the regulatory environment is conducive to the operation of business. Data shown are ranks.

Source: World Bank and International Finance Corporation, Doing Business, 2021 edition , available at http://www.doingbusiness.org/. The Doing Business project has been discontinued. Data reported are archived data.

Corruption Perceptions Index - An economy's Corruption Perceptions Index (CPI) score indicates the perceived level of public sector corruption and its impact on commercial life as determined by expert assessments and business opinion surveys. Users are cautioned against comparing economy scores over time, as the CPI provides a snapshot of the views of businesspeople and analysts for the current or recent years. Given its methodology, the CPI is not a tool that is suitable for monitoring progress or the lack of progress over time. The only reliable way to compare an economy’s score over time is to go back to individual survey sources, each of which can reflect a change in assessment. Data shown for 1995-2011 are scores ranging between 10 (highly clean) and 0 (highly corrupt), while data shown for 2012 onwards are scores ranging between 100 (very clean) and 0 (highly corrupt).

Source: Transparency International, Corruption Perceptions Index, various annual releases, available at https://www.transparency.org/en/cpi, accessed 27 December 2023. Data reported before 2012 are archived data.

Enabling Trade Index, Overall - The Enabling Trade Index (ETI) measures the extent to which individual economies have developed institutions, policies, and services facilitating the free flow of goods over borders and to final destinations. The index is comprised of four issue areas, called subindexes: (1) market access, (2) border administration, (3) transport and communications infrastructure, and (4) the business environment. Each of these four subindexes is in turn composed of a number of pillars of enabling trade, of which there are nine in total. Data shown are scores ranging from a minimum value of 1 to a maximum value of 7. APEC aggregate is a simple average of scores available for each APEC economy.

Source: World Economic Forum, The Global Enabling Trade Report, various annual editions, available at http://reports.weforum.org/global-enabling-trade-report-2016/. Data reported are archived data.

Enabling Trade Index, Market Access - The Enabling Trade Index (ETI) measures the extent to which individual economies have developed institutions, policies, and services facilitating the free flow of goods over borders and to final destinations. The market access subindex measures the extent to which the policy framework of the economy welcomes foreign goods into the economy and enables access to foreign markets for its exporters. It is composed of the following pillar: domestic and foreign market access. Data shown are scores ranging from a minimum value of 1 to a maximum value of 7. APEC aggregate is a simple average of scores available for each APEC economy.

Source: World Economic Forum, The Global Enabling Trade Report, various annual editions, available at http://reports.weforum.org/global-enabling-trade-report-2016/. Data reported are archived data.

Enabling Trade Index, Border Administration - The Enabling Trade Index (ETI) measures the extent to which individual economies have developed institutions, policies, and services facilitating the free flow of goods over borders and to final destinations. The border administration subindex assesses the extent to which the administration at the border facilitates the entry and exit of goods. It is composed of the following three pillars: efficiency of customs administration, efficiency of import-export procedures, and transparency of border administration. Data shown are scores ranging from a minimum value of 1 to a maximum value of 7. APEC aggregate is a simple average of scores available for each APEC economy.

Source: World Economic Forum, The Global Enabling Trade Report, various annual editions, available at http://reports.weforum.org/global-enabling-trade-report-2016/. Data reported are archived data.

Enabling Trade Index, Transport and Communications Infrastructure - The Enabling Trade Index (ETI) measures the extent to which individual economies have developed institutions, policies, and services facilitating the free flow of goods over borders and to final destinations. The transport and communications infrastructure subindex takes into account whether the economy has in place the transport and communications infrastructure necessary to facilitate the movement of goods within the economy and across the border. It is composed of the following three pillars: availability and quality of transport infrastructure, availability and quality of transport services, and availability and use of ICTs. Data shown are scores ranging from a minimum value of 1 to a maximum value of 7. APEC aggregate is a simple average of scores available for each APEC economy.

Source: World Economic Forum, The Global Enabling Trade Report, various annual editions, available at http://reports.weforum.org/global-enabling-trade-report-2016/. Data reported are archived data.

Enabling Trade Index, Business Environment - The Enabling Trade Index (ETI) measures the extent to which individual economies have developed institutions, policies, and services facilitating the free flow of goods over borders and to final destinations. The business environment subindex looks at the quality of governance as well as at the overarching regulatory and security environment impacting the business of importers and exporters active in the economy. It is composed of the following two pillars: regulatory environment and physical security. Data shown are scores ranging from a minimum value of 1 to a maximum value of 7. APEC aggregate is a simple average of scores available for each APEC economy.

Source: World Economic Forum, The Global Enabling Trade Report, various annual editions, available at http://reports.weforum.org/global-enabling-trade-report-2016/. Data reported are archived data.

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Bilateral Linkages Database

Merchandise Trade (6 indicators)

Merchandise Trade - Merchandise trade consists of goods which add or subtract from the stock of material resources by entering (imports) or leaving (exports) an economic territory. Goods simply being transported through an economy (goods in transit) or temporarily admitted or withdrawn (except for goods for inward or outward processing) do not add to or subtract from the stock of material resources and are not included in the international merchandise trade statistics.

Merchandise exports are valued at transaction value, including the cost of transportation and insurance to bring the merchandise to the frontier of the exporting economy (f.o.b. valuation). Export data include re-exports, which includes foreign goods exported in the same state as previously imported, goods from free circulation areas, goods from premises for inward processing or industrial free zones directly to the rest of the world, and goods from premises for customs warehousing or commercial free zones directly to the rest of the world. Merchandise imports are valued at transaction value, including the cost of transportation and insurance to the frontier of the importing economy (c.i.f. valuation). Import data include re-imports, which includes goods imported in the same state as previously exported.

Data are classified using the Standard International Trade Classification (long time series), which classifies traded products according to their material and physical properties, stage of processing, and economic functions. Manufactured goods are goods that have been processed by way of machinery and include intermediate and finished products. Under the SITC, manufactured goods include Sections 5 through 8 (Chemicals and related products, not elsewhere specified; Manufactured goods classified chiefly by material; Machinery and transport equipment; Miscellaneous manufactured articles), excluding division 68 (Non-ferrous metals). Non-manufactured goods, or primary products, are goods that have not been processed, such as products of agriculture, forestry, fishing, and mining. Under SITC, non-manufactured goods include Sections 0 through 4 (Food and live animals; Beverages and tobacco; Crude materials, inedible, except fuels; Mineral fuels, lubricants and related materials; Animal and vegetable oils, fats and waxes), including division 68. Section 9 of SITC (Commodities and transactions not classified elsewhere) has been excluded from the calculations.

Data on bilateral exports and imports of merchandise goods, disaggregated by manufacturing and non-manufacturing, are shown in US dollars (in millions). For all indicators, mirror data are used for Chinese Taipei as a partner economy. For example, total merchandise exports reported from Chinese Taipei to Australia are considered as total merchandise imports to Australia from Chinese Taipei. APEC aggregates are sums based on data available.

Source: United Nations, Commodity Trade Statistics, available at https://comtradeplus.un.org/, accessed 21 December 2023. Chinese Taipei's data directly provided by Chinese Taipei, accessed 24 May 2023.

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Foreign Direct Investment (FDI) (4 indicators)

Foreign Direct Investment - Foreign direct investment (FDI) reflects the objective of obtaining a lasting interest by a resident entity in one economy ("direct investor") in an entity resident in an economy other than that of the investor ("direct investment enterprise"). The lasting interest implies the existence of a long-term relationship between the direct investor and the enterprise and a significant degree of influence on the management of the enterprise. Direct investment involves both the initial transaction between the two entities and all subsequent capital transactions between them and among affiliated enterprises, both incorporated and unincorporated. A foreign direct investor is an individual, an incorporated or unincorporated public or private enterprise, a government, a group of related individuals, or a group of related incorporated and/or unincorporated enterprises which has a direct investment enterprise—that is, a subsidiary, associate or branch—operating in an economy other than the economy of residence of the foreign direct investor or investors. A direct investment enterprise is defined as an incorporated or unincorporated enterprise in which a foreign investor owns 10% or more of the ordinary shares or voting power of an incorporated enterprise or the equivalent of an unincorporated enterprise.

FDI can be broken down into three categories:

(1). equity capital -- equity in branches, voting or non-voting shares in subsidiaries (greater than 50% ownership) and associates (10-50% ownership), and other capital contributions, which can include the provision of machinery or other capital equipment, raw materials, and technical know-how. Equity flows can also be defined as mergers & acquisitions (M&A) and Greenfield investments (investment in a manufacturing, office, or other physical company-related structure or group of structures in an area where no previous facilities existed).
(2). reinvested earnings -- the direct investor's share of earnings not distributed as dividends by subsidiaries or associates, and earnings of branches not remitted to the direct investor during the reporting period.
(3). other capital -- inter-company debt (extension of trade credits and loans) and other advances to the direct investment enterprise.

FDI Flows - Foreign direct investment (FDI) capital flows are recorded on a net basis (the investments during the reporting period netted against disinvestments). Also, FDI is recorded on a directional basis, as an asset for the economy of the direct investor and as a liability for the economy of the direct investment enterprise. In some cases, outflows from Economy A to Economy B do not match inflows to Economy B from Economy A. This is often the result of different statistical practices being used by different economies. Generally, economies allocate stock positions bilaterally to the first, or immediate, economy of ownership. However, when the first foreign direct investment enterprise is a foreign holding company, an attempt is made to attribute the investment to the ultimate economy of destination. Bilateral discrepancies can also result when there are territories being used as conduits for tax or other reasons. A final possible cause for discrepancy could involve recording errors or gaps in the national data. Data on inward and outward bilateral FDI flows are shown in US dollars millions. APEC aggregates are sums based on data available.
Source: United Nations Conference on Trade and Investment, Bilateral Foreign Direct Investment Statistics. Data is no longer available from source, thus, archived data is reported instead.

FDI Stocks - Foreign direct investment (FDI) stocks, or FDI positions, are the accumulation of FDI flows and may change according to the following: (1) changes in the market value of listed equity securities of direct investment enterprises or changes in the market value of holdings of land and buildings; (2) valuation changes of foreign currency denominated loans from direct investors to direct investment enterprises; (3) write-offs, which occur when the direct investment enterprise is no longer a viable concern (for example, when natural resources owned by a mining enterprise have been fully depleted or exploration for natural resources proves unsuccessful); and (4) reclassifications, for example, if the voting share were to increase from 8% to over 10% or if the direct investment enterprise were to acquire more than a 10% share of the direct investor. Data on inward and outward bilateral FDI stocks are shown in US dollars millions. APEC aggregates are sums based on data available.
Source: United Nations Conference on Trade and Investment, Bilateral Foreign Direct Investment Statistics. Data is no longer available from source, thus, archived data is reported instead.

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Portfolio Investment Assets (5 indicators)

Portfolio Investment - Portfolio investment is defined as cross-border transactions and positions involving debt or equity securities, other than those included in direct investment or reserve assets. Securities are debt and equity instruments that have the characteristic feature of negotiability. That is, their legal ownership is readily capable of being transferred from one unit to another unit by delivery or endorsement. While any financial instrument can potentially be traded, securities are designed to be traded, usually on organized exchanges or “over the counter”. In some cases, negative values are reported for the value of residents' holdings of securities issued by a particular economy. Such entries reflect short positions in securities, usually resulting from the sale of securities acquired under repurchase agreements. Data are year-end holdings valued at market prices and are shown in US dollars millions. At the time of update, data are available only for the following APEC economies as reporter economies: Australia; Canada; Chile; China; Hong Kong, China; Indonesia; Japan; Korea; Malaysia; Mexico; New Zealand; The Philippines; Russia; Singapore; Thailand; United States. Data for the following APEC economies are from the previous update: Chinese Taipei. APEC aggregates are sums based on data available.

Equity Securities - Equity securities comprise all instruments and records acknowledging, after the claims of all creditors have been met, claims on the residual values of incorporated enterprises. Shares, stocks, participations, or similar documents (such as American Depositary Receipts) usually denote ownership of equity.

Debt Securities, Long-term - Long-term debt securities cover instruments such as bonds, debentures, and notes that usually give the holder the unconditional right to a fixed money income or contractually determined variable money income and have an original term to maturity of more than one year.

Debt Securities, Short-term - Short-term debt securities cover treasury bills, commercial paper, and bankers' acceptances that generally give the holder the unconditional right to a stated fixed sum of money on a specified date. These instruments are usually traded on organized markets at a discount and have an original term to maturity of one year or less.

Source: International Monetary Fund, Coordinated Portfolio Investment Survey, available at https://data.imf.org/?sk=B981B4E3-4E58-467E-9B90-9DE0C3367363&sId=1420666037900, accessed 12 December 2023.

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Bank Lending (1 indicator)

Consolidated Foreign Claims, Immediate Borrower Basis - Foreign claims are defined as the sum of cross-border claims (claims that are granted or extended to non-residents) plus foreign offices' local claims in all currencies. On an immediate borrower basis, this category can be calculated as the sum of international claims (cross-border claims and local claims of foreign affiliates in foreign currency) and local claims in local currency. Immediate borrower basis refers to claims allocated to the economy and sector of the contractual counterparty, in contrast with ultimate risk basis in which claims are reallocated to the economy where the ultimate obligor resides. Data are available for the following APEC economies as reporter economies: Australia; Canada; Chile; Japan; Korea; Mexico; Chinese Taipei; United States. Data are provided on individual economies by nationality of reporting banks and are amounts outstanding at end-December shown in US dollars (in millions). APEC aggregates are sums based on data available.

Source: Bank for International Settlements, Consolidated Banking Statistics, available at https://data.bis.org/, accessed 28 December 2023.

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