Not really. Search engines such as Google probably will not count most of these as a "backlink", although it will be indexed. One way links is what you need to aim for.
Direct reciprocals are a no-go, already for about a year. Do A -> B -> C triangle trades instead and you are fine.
Reciprocial links still provide an SEO value, they do pass on Pagerank and have SEO value when it comes to ranking in search results. They have been devalued by many search engines over the years, so they wouldn't provide as much weight as a one-way link.
Are all your backlinks link exchanges? If you answer yes you need to tone it down fast and start getting one-way backlinks.
No, most are from directories, articles, blogs, etc. About 20 from my industry and major competitors with high PR are recips.
Keep link page to exchange links with quality websites having good page rank more than your websites. It is little helpful else one-way link is helpful. If you can do 3 way link exchange then it is also beneficial but I think link exchange with only quality websites have page rank more than your website will not be the time wasting effort. Latest SEO Tips | Java Examples