Interim and Annual Reports
Annual Report 2023
of the Export Credit Guarantees of the Federal Republic of Germany | incl. UFK-Guarantees
18. June 2023
In 2023, the German government provided export credit guarantees for goods and services totalling 18.4 billion euros. A good 80 per cent of the transactions were in emerging and developing countries. In a country comparison, Turkey accounted for the highest volume of cover last year. It was followed by Egypt and Angola.
The year 2023 was a green year for export credit guarantees in two respects. Firstly, the Interministerial Committee for Export Credit Guarantees adopted a climate strategy that consistently aligns the Federal Government's guarantee instruments with the Paris 1.5-degree pathway. Secondly, the federal government has never covered as much green business as it did in 2023, with a significant proportion of the cover business relating to projects in the fields of wind and solar energy as well as green hydrogen and electromobility. In the area of renewable energies alone, the federal government assumed guarantees totalling EUR 3.1 billion. This is around a quarter of the newly assumed cover volume in the individual cover area.
The income generated rose to a good EUR 1.6 billion (2022: EUR 0.8 billion). Expenditure totalled 608.5 million euros (2022: 287.6 million euros). With a surplus of EUR 739.8 million (2022: EUR 413 million), the export credit guarantees of the Federal Republic of Germany recorded a positive annual result in favour of the federal budget.
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