Research on Factors Affecting Export Trade Between China and Countries Along”the Belt and Road Initiative”-taking Electromechanical Products as an Example

Abstract

Driven by global economic integration and the “Belt and Road”initiative, China’s economic and trade cooperation with countries along the route is becoming increasingly close. The export of mechanical and electromechanical products holds a significant role. This paper focuses on studying the export trade of electromechanical products between China and key trading nations participating in the Belt and Road Initiative. It employs the trade gravity model to assess how factors like GDP, geographical distance, population size, and official exchange rate influence the export of electromechanical products. The findings of the empirical analysis indicate a strong positive relationship between economic size and export volume, a negative correlation between geographical distance and export volume, a positive influence of population size on exports, and a detrimental effect of exchange rate fluctuations on exports. This paper proposes recommendations that include enhancing market penetration in high GDP countries, refining the logistics system, and bolstering exchange rate risk management. These suggestions offer theoretical backing for China to refine the export structure of electromechanical products and boost its global competitiveness.