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The bilateral trade flow data in this paper is a collection of the 35 countries along "The Belt and Road" from 1995 to 2014. After getting the national trade efficiency and trade potential estimation, heterogeneous panel cointegration estimation methods (FMOLS and PDOLS) are used to analyze the influencing factors of trade efficiency and trade potential from three aspects: trade diversification, trade concentration and trade complementarity index. The lower the degree of trade diversificationdoi:10.11648/j.jwer.20180702.11 fatcat:wilc5fhqrnanznqavkrz5kmy3m