On January 1, the Regional Comprehensive Economic Partnership (RCEP), signed by 15 economies including China, 10 ASEAN countries, Japan, and South Korea, came into effect. As the world’s largest free trade agreement, the entry into force of RCEP will significantly promote China’s import and export trade.
For small, medium and micro foreign trade enterprises, the entry into force of RCEP will also have a profound impact. The “RCEP Regional Activity Index of Exports of Small, Medium and Micro Foreign Trade Enterprises” released by XTransfer shows that in 2021, the RCEP Regional Activity Index of China’s Small and Medium Foreign Trade Enterprises’ Exports has shown strong resilience, and it has rapidly increased in every “crisis” and “opportunity”. Repair, rise by wave. In 2021, the amount of receipts from SMEs exporting to the RCEP region will increase by 20.7% year-on-year. It is expected that in 2022, the RCEP regional trade of Chinese small, medium and micro foreign trade enterprises will release unprecedented energy.
The report recalls that compared with 2020, the export RCEP regional activity index of small and medium-sized and micro foreign trade enterprises in 2021 will increase a lot. After the Spring Festival in 2021, the order demand was gradually released, and the index rebounded sharply; after March, affected by the traditional festivals of important export destination countries such as Indonesia, the index showed a downward trend and reached the lowest value in May; entering May, international demand After a short recovery, the index rebounded quickly and gradually moved towards a two-year high.
From the perspective of export destinations, the top three destination countries in the RCEP region of China’s small and medium-sized foreign trade enterprises are Japan, South Korea, and Indonesia, and the top three destination countries in terms of export growth rate are Thailand, Indonesia, and the Philippines. Among them, the export volume and export growth rate to Indonesia have maintained a high level, which indicates that Chinese small, medium and micro foreign trade enterprises are gradually deepening their trade exchanges with ASEAN countries, and at the same time, they have also accumulated high-quality development potential for entering the “RCEP era”.
From the perspective of export product categories, the export of machinery parts by small and medium-sized enterprises to major exporting countries in the RCEP region increased by more than 110%. Among them, auto parts increased by more than 160%, textile exports increased by more than 80%, and synthetic fibers and nylon increased by about 40%.
Post time: Mar-23-2022