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- The trade in goods in the Asia-Pacific region is still concentrated in China, Japan, Hong Kong (China), and the Republic of Korea. Especially China continues to be the largest trading economy contributing one-third of all imports and exports in the region in 2021. India and the Russian Federation are catching up and increasing their trade shares.

- While 60.8% of trade takes place within the region, trade with China accounts for almost half of that trade. Outside Asia-Pacific, the largest trading partners were the European Union (15.7%) and the United States (11.5%).

- The major exports were capital goods such as machinery and equipment, while the exports to the European Union and the United States were primarily consumer goods. Although deep integration through regional value chains exists, the European Union and the United States are still largely responsible for the final demand.

- Services trade is more concentrated than the goods trade and dominated by the top 10 largest economies of the region, which make up 90% of services trade in the region.

- The services trade in the Asia-Pacific region was hit severely by the COVID-19 pandemic but recovered in 2021. This growth is spearheaded by transport services which increased by 48.6% and 40.1% for exports and imports, respectively. Conversely, the sectoral share of the travel industry continued to decline and has not recovered fully.

- Services trade restrictiveness was higher in the Asia-Pacific region than in the rest of the world. The difference was most significant in the rail freight transportation, accounting, and telecom sectors.