Innovation Economics and Management Research (IEMR)

Publisher:ISCCAC

Trade Potential of China’s Agricultural Products Export to RCEP Countries Based on Expanded Trade Gravity Model
Volume 9
Authors

Dan Liu, Jilu Liu, Chun Wang

Corresponding Author

Chun Wang

Publishing Date

30 December, 2024

Keywords

RCEP, Trade potential, Agricultural products, Expanded trade gravity model.

Abstract

Agricultural trade has always been an important component of foreign trade for China and RCEP countries. The formal implementation and effectiveness of RCEP undoubtedly bring huge development opportunities for China's agricultural export trade. This article compiles agricultural trade data between China and 14 other RCEP member countries from 2012 to 2022, by utilizing the extended trade gravity model, the influencing factors and the trade potential of China's agricultural products export to RCEP countries are studied and estimated. The findings indicate that, the GDP of China and its trade partners, as well as the population sizes of these trade partners, exhibit a significant positive impact on China's agricultural products export. The fluctuating exchange rate of U.S. dollar against RMB, has a considerable adverse effect on China's agricultural products export. China's agricultural products export to the majority of RCEP countries demonstrates considerable potential for growth and expansion.

Copyright

© 2024, the Authors. Published by ISCCAC

Open Access

This is an open access article distributed under the CC BY-NC license