An analysis of trade patterns between Jiangxi province and belt and road participating countries

On the basis of the data on import, export and total import and export volume of Jiangxi Province and 24 Belt and Road participating countries selected from the IMF database between 2005 and 2015, this paper analyzes the fundamental patterns of trade of Jiangxi Province and Belt and Road countries. By applying the Composite Trade Share Index and the HM Index, this paper also analyzes the trade dependence and symmetry between the two sides. The study shows that: (1) Trade relations between Jiangxi and Belt and Road countries are getting much closer and their trade volume has grown by nearly 20 times from 2005 to 2015. (2) The trade dependence between Jiangxi Province and such areas as Southeast Asia, West Asia and the Middle East is relatively high and has been increasing year by year. The Composite Trade Share Index of Jiangxi Province with Southeast Asia increased from 5.99% in 2005 to 16.06% in 2015 and that with West Asia and the Middle East from 4.48% to 8.19%. (3) Jiangxi Province depends more on countries along the Belt and Road than vice versa regarding export, which demonstrates noticeable asymmetry of dependence between these two sides. Of these countries, Jiangxi Province depends mostly on six countries in Southeast Asia, followed by eight in West Asia and the Middle East, and then by four in South Asia. Last but not the least, this paper also puts forward corresponding measures and suggestions.