On February 29, XTransfer, a one-stop foreign trade financial service platform, released the 2023 Export Trade (B2B) Index Report for Micro, small and medium-sized enterprises. The report shows that the competitiveness index of China small, medium and micro foreign trade enterprises has fluctuated greatly in the past year, but it is still improved compared with 2022.

        The report evaluates from three dimensions: buyer trust, product attractiveness, and export operation efficiency. Among them, it includes five indicators such as "payment proportion of the first phase of the order", "average number of payments for a single order" and "order advance payment proportion".

        In the above report, the "total amount of a single order" index increased significantly compared with the previous year, becoming the main factor driving competitiveness upward. The average "total value of a single order" in 2023 increased by 17.2% compared to last year. This means that the product attraction of China foreign trade enterprises is gradually increasing, so as to obtain a greater purchase volume of international buyers. Despite complex and changing external factors, a large number of Chinese-made products still gain a foothold around the world with the advantage of "high quality and low price".

        From May to October 2023, the "proportion of orders collected in the first phase" of the competitiveness index index has decreased, and its average value is 1.7 percentage points lower than that in 2022. Among them, July performed the worst, down 1.9 percentage points from the same month last year. During the same period, the "average number of collections for a single order" also fluctuated, with an average increase of 4% compared to 2022. "Order first phase collection ratio" and "average collection times of a single order" reflect the buying confidence of international buyers. Affected by the overall weak global demand, some buyers are more cautious about ordering and paying. During this period, although the competitiveness index of China small, medium and micro foreign trade enterprises rose as a whole, it fluctuated significantly.

        From then to the end of 2023, the "average delivery time" in the competitiveness index of China small and medium-sized foreign trade enterprises fluctuated greatly. In December of that year, the "average delivery time" of China small and medium-sized foreign trade enterprises in the report was the maximum since 2023, which was 14.4% longer than the annual average in 2023, indicating that the operational efficiency of foreign trade enterprises declined in December. In contrast, the "average delivery time" indicator for the first three quarters of 2023 remained flat compared to the same period in 2022. In this regard, the report said that the decline in the efficiency of export operations at the end of the year is likely to be mainly due to temporary disruptions caused by force majeure.

        The report believes that despite the complex and changing external environment, as the leading force of China foreign trade, the overall competitiveness of China small and medium-sized foreign trade enterprises in 2023 has maintained an upward momentum.

        From the perspective of export destinations, the top three export destinations of China small and medium-sized foreign trade enterprises are: North America, the European Union and ASEAN. Countries with high export growth rate of China small and medium-sized foreign trade enterprises are: Mexico, Brazil, South Africa, etc., in the case of declining market demand in traditional developed countries, small and medium-sized foreign trade enterprises are accelerating the development of the "Belt and Road" emerging markets.

        From the perspective of export product categories, the top three categories of exports of China small and medium-sized foreign trade enterprises are: mechanical and electrical products, base metals and their products, textile raw materials and their products. Among them, women clothing collections increased by 15% year-on-year. In addition, the amount of HD camera collections increased by 14% year-on-year, and the export of electronic products is no longer limited to complete products, and the export of core accessories has become a new trend. (Article source: China Trade News)