Annual Report 2022
of the Export Credit Guarantees of the Federal Republic of Germany | incl. UFK-Guarantees
16. June 2023
In 2022 the Federal Government covered supplies and services worth 14.9 billion euros (2021: 20.2 billion euros). The war on Ukraine and the resulting suspension of cover for supplies and services for Russia and Belarus as well as the persisting effects of the coronavirus pandemic and the global slowdown in economic growth had negative effects on the cover volume.
With 2.2 billion euros, Turkey led the field in respect of newly covered business. Once again the Federal Government provided cover for numerous wind power projects. Brazil (1.4 billion euros) and China 1.0 billion euros) came in second and third.
As in previous years, primarily small and medium-sized companies (SME) made use of the Export Credit Guarantees of the Federal Government. In order to reinforce the competitiveness of these SMEs, the Federal Government agreed to introduce a Forfaiting Guarantee in the course of the current year. It facilitates the financing of small-ticket transaction for small and medium-sized companies and strongly improves the companies’ liquidity position.