The improvement of trade facilitation environment has brought new opportunities for enterprises to improve capacity utilization. By constructing the theoretical framework of trade facilitation on capacity utilization, this paper uses Chinese enterprise level data to test the micro impact of trade facilitation in the countries along the “Belt & Road” on capacity utilization. The results show that: trade facilitation in the “Belt & Road” countries has significantly improved the capacity utilization rate of Chinese enterprises. From the perspective of trade facilitation in “Belt & Road” countries, port and logistics efficiency have the greatest effect on the capacity utilization of enterprises, followed by regulatory environment, finance and e-commerce, customs and border management. From the perspectives of industry, region and export decision-making, trade facilitation in “Belt & Road” countries has a greater effect on capacity utilization of enterprises with high dependence on intermediate imports, enterprises in inland areas and non-export enterprises. The export expansion effect, intermediate import substitution effect and productivity promotion effect caused by trade facilitation in “Belt & Road” countries are important channels to improve the capacity utilization rate of enterprises.