Interim and Annual Reports
Annual Report 2024
Export Credit Guarantees remain a reliable partner in times of crisis
25. March 2024
Geopolitical risks and a weak global industrial economy have put the German export industry under considerable strain in 2024. In this difficult environment in particular, the Federal Government's Export Credit Guarantees have once again proven to be a stable pillar for German exporters - especially for small and medium-sized enterprises (SMEs).
With a cover volume of 17.2 billion euros, the Federal Guarantees were only slightly below the previous year's figure and have helped to secure important exports despite complex framework conditions. The cover volume was primarily driven by large-volume individual transactions: The ten largest covers alone accounted for around 6.3 billion euros - a good third of the total volume. In the country ranking, Turkey came top with EUR 2.8 billion, followed by the USA (EUR 2.0 billion) and the United Kingdom (EUR 1.5 billion). While a wide range of different sectors were covered in Turkey, large-volume ship and aircraft transactions dominated in the USA and UK.
One focus in 2024 was on providing relief for SMEs. The Federal Government's relief package accelerated the processing of applications and simplified decision-making processes - among other things by shifting decisions to faster decision-making bodies and dispensing with special audits.
The increasing focus on sustainability is also clearly visible: the so-called Impact portfolio which bundles transactions with a positive impact on the climate, environment or social development, reached a volume of EUR 6.2 billion - more than half of new business in the area of individual covers.
Despite high compensation payments of over 1.2 billion euros - and thus a negative annual result of around 524 billion euros - the outlook for 2025 is fundamentally positive: the current figures show a clear upward trend in both application volumes and approved cover.
The English version of the annual report will be published shortly.
