Graphics: APEC remains a dynamic engine of global economic growth

The Asia-Pacific Economic Cooperation (APEC) has remained to be a dynamic engine of global economic growth, and it is expected to contribute around 60 percent of global economic growth in 2024, according to the IMF.

The 21 APEC member economies are home to around 38 percent of the world's population and represent approximately 61 percent of global GDP in 2023, according to data from the World Bank.

APEC has become one of the most important regional forums in the Asia-Pacific. By reducing trade barriers and smoothing out differences in regulations, it has ensured goods, services, investment and people move easily across borders. The 31st APEC Economic Leaders' Meeting is set to open next week in Lima, Peru.