Countries involved in the Belt and Road Initiative have taken on an increasingly important role in China's import and export sectors in the past two decades, according to a report released on Wednesday.

From 1995 to 2016, the total value of imports and exports between China and the 65 countries involved in the initiative grew from $38.43 billion to $978.28 billion, the Report on International Trade and Investment Between China and Countries Along the Belt and Road says.

The report, which was published by the Shanghai Academy of Social Sciences, also showed that China has become the largest trade partner for 25 countries involved in the initiative, and the second- or third-largest trade partner for 19 of them.

"China's top 10 import and export trade partners last year included Malaysia and Vietnam, which are both involved in the initiative," said Shen Yuliang, director of the academy's World Trade Research Center.