Chinese trade index with countries co-building the “the Belt and Road Initiatives”

0 Published by 2023-12-14 16:57:19

In 2013, Chinese President proposed major initiatives to jointly build the "Silk Road Economic Belt" and the "21st Century Maritime Silk Road". Since the joint construction of the "the Belt and Road Initiatives" initiative was proposed, China and the co-building countries have adhered to the principle of extensive consultation, joint contribution and shared benefits, continued to deepen pragmatic cooperation, and achieved increasingly close economic and trade relations, achieving substantial and substantial achievements.

Currently, “the Belt and Road Initiatives” cooperation areas include 16 countries in West Asia: Iran, Iraq, Turkey, Syria, Jordan, Lebanon, Israel, Palestine, Saudi Arabia, Yemen, Oman, United Arab Emirates, Qatar, Kuwait, Bahrain, and Egypt. 9 countries in South Asia: India, Pakistan, Bangladesh, Afghanistan, Sri Lanka, Maldives, Nepal, Bhutan, and Timor-Leste. 5 countries in Central Asia: Kazakhstan, Uzbekistan, Turkmenistan, Tajikistan and Kyrgyzstan.

In order to comprehensively reflect the trade status and development prospects between my country and the co-building countries, in 2020, the General Administration of Customs launched the compilation of the trade index between China and the countries co-building the "the Belt and Road Initiatives", and the index compilation will be completed in September 2023. The index evaluates and displays the trade status between China and the countries co-building the “the Belt and Road Initiatives” over the past ten years from four dimensions: trade scale, trade structure, trade mutual benefit, and trade promotion.

1. Trade index: strong growth and remarkable results
Figure 1 shows the trend of trade index between China and the countries co-building the “the Belt and Road Initiatives” from 2013 to 2022. Over the past ten years, the trade index between China and the countries co-building the “the Belt and Road Initiatives” has shown a good momentum of upward growth year by year, rising from 100 in the base period to 165.4 in 2022.

Figure 1 Trade index between China and countries co-building the “the Belt and Road Initiatives” from 2013 to 2022

2. Sub-indices
(1) Trade scale: Steady development and expanding influence.

Figure 2 shows the trend of the trade scale index between China and the countries co-building the “the Belt and Road Initiatives” from 2013 to 2022. Except for 2015, the trend of trade scale index has shown an overall upward trend. Especially since 2016, the trade scale index between China and the countries co-building the “the Belt and Road Initiatives” has steadily risen, reaching 161.3 in 2022.

Figure 2 Trade scale index between China and countries co-building the “the Belt and Road Initiatives” from 2013 to 2022

(2) Trade structure: Optimized and improved continuously.

Figure 3 shows the trend of the trade structure index between China and the countries co-building the “the Belt and Road Initiatives” from 2013 to 2022. As the joint construction of the "the Belt and Road Initiatives" continues to deepen, the import and export products, business entities, brands and other structures of China and the countries jointly building the "the Belt and Road Initiatives" continue to optimize, and the trade structure index continues to improve and improve year by year, reaching 119.3 in 2021. There will be a slight decrease in 2022, but it is still the second highest value in history.

Figure 3 Trade structure index between China and the countries co-building the “the Belt and Road Initiatives” from 2013 to 2022

(3) Mutual benefit from trade: open cooperation, mutual benefit and sharing.

Figure 4 shows the trend of trade mutual benefit index between China and the countries co-building the “the Belt and Road Initiatives” from 2013 to 2022. Cooperation in the industrial and value chains between China and the countries co-building the "the Belt and Road Initiatives" continues to deepen, and the overall mutual benefit level of trade has increased significantly, reaching 172 in 2021. There will be a slight decline in 2022, but it is still the second highest value in history.

Figure 4 Trade mutual benefit index between China and the countries co-building the “the Belt and Road Initiatives” from 2013 to 2022

(4) Trade promotion: accumulate momentum and release potential.

Figure 5 shows the trend of the trade promotion index of China’s “One Belt, One Road” countries from 2013 to 2022. As the trade innovation and facilitation policies between China and the co-building countries of the "the Belt and Road Initiatives" continue to be deepened and implemented, policy dividends gradually appear, and the trade promotion index between China and the co-building countries is on the rise, reaching 217.3 in 2022.