said: “Compared to 2017, the coverage volume for export credit guarantees increased by more than 17% to €19.8 billion last year. One reason for the increased demand is the increasing political and economic uncertainty in important export markets. But it is also an expression of the strong export performance of the German economy, which has a broad base and is represented in almost all foreign markets. We are particularly pleased about the strong increase in the volume of coverage for deliveries of goods and services to Africa; it has grown by around two thirds and now stands at €1.8 billion. This is not least due to the extended coverage facilities for selected African states that were introduced last year.”
The focus of the insured transactions was once again on emerging and developing countries. The coverage volume for these countries amounted to €14.7 billion last year and accounted for 74% of new business. Export credit guarantees once again made a profit for the federal budget, of €166 million in 2018.
In order to keep export credit guarantees attractive in the face of political, economic and technical changes, the Federal Government has reformed key aspects of the instrument, particularly for . As of July 2018, exporters have been able to insure small-volume transactions (“small tickets” with an order value for up to €5 million) with a new, digital product. On 1 February 2019, the product range will be expanded by a new digital product for banks, offering small ticket financing for exports. In this way, the Federal Government is attaining the next milestone in the implementation of the coalition agreement, which had announced less bureaucratic and more targeted small ticket export financing.
The 2018 annual report on export credit guarantees containing further details is currently being drawn up and will be published on the website of the Federal Ministry for Economic Affairs and Energy in spring 2019. Further information about export credit guarantees is available at .