Export Credit Guarantees Annual Report 2024 PDF is accessible

Export Credit Guarantees Annual Report 2024

Geopolitical risks and persistently muted global macroeconomic conditions left traces on German exports in 2024. In this difficult business environment – especially for small and medium-sized enterprises (SMEs) – the Federal Government’s Export Credit Guarantees proved to be an important means of support for Germany as an industrial nation and for the country’s export industry. Despite the challenging market environment, the total cover of 17.2 billion euros provided last year was only slightly down on the previous year (18.4 billion euros). Cover was dominated by guarantees to cover big-ticket transactions. The ten largest guarantees provided by the Federal Government were jointly valued at 6.3 billion euros, equivalent to a good one third of the total cover provided. To ease the burden on small and medium-sized enterprises (SMEs) in particular, the Federal Government assembled a relief package in 2024 to speed up application processing and to shorten decision-making processes. Among other things, more decision-making powers were delegated to lower-level committees able to make decisions more quickly and special assessments reduced. Despite the geopolitical and economic uncertainties, the outlook for the current year is favourable. Applications for and offers of cover are clearly on the rise in volume terms.