Export credit insurance confirms its key role in stabilising global trade. According to data Berne Union, the international union of credit and investment insurers, the sector saw further strong growth in the first half of 2025. The total value of new commitments reached USD 2.7 trillion. Market dynamics were mainly supported by rising geopolitical risks, uncertainty in the global economy, increasing renewable energy deals and expanding credit support facilities for domestic producers.
“Data from the Berne Union confirms the continued growth of the global export credit insurance market, but also highlights its sensitivity to currency movements and geopolitical developments. For export credit agencies, including Eximbank, this means the need for greater portfolio diversification and active risk management. Our priority is to ensure that Slovak companies have access to stable and competitive forms of insurance as well as complementary financial instruments that will enable them to develop their export activities and withstand an environment of heightened global uncertainty ,” said Rastislav Podhorec, CEO of Eximbanka.
In the first half of 2025, the value of new export credit insurance commitments reached a record $2.7 trillion, confirming the continued strong demand for export risk insurance. Market growth is mainly driven by heightened perceptions of risk and overall uncertainty in the global economy, which are motivating companies to protect their overseas business.
During the period under review, members of the Berne Union provided a record USD 2.59 trillion in new short-term loans (revolving loans and repayments). In nominal terms, this is an increase of 12% compared to the second half of 2024. However, this growth is largely the result of the weakening of the dollar, so in real terms the market remains stable. Most export credit agencies (ECAs) expect a similar trend to continue through the end of the year as geopolitical tensions and market uncertainty continue to impact insurance demand.
The boom in long-term deals and the growing importance of renewable energy
The medium- and long-term export trade (MLT) sector is set to experience significant growth in 2025. The largest number of deals come from transport and renewable energy, with renewable energy becoming one of the main areas of export credit insurance.
In the first half of 2025, $77 billion in new MLT deals were closed – an all-time high. The growth was mainly driven by large deals in cruise ships and renewable projects in North America and Europe. The renewables sector reached new commitments in excess of US$10 billion, becoming the second largest sector in terms of new deals and the third largest in terms of total exposure (US$82 billion).
Diversification of products and growth of domestic credit support
The expanding role of export credit agencies, such as Eximbanka, is reflected in increasing geographic and sectoral diversification. Untied and domestic credit support instruments are also increasingly being used to help secure critical inputs and resilience in supply chains. New commitments in this area reached $55 billion, bringing total exposure to these products to $255 billion – $100 billion more than in 2019. This development confirms ECAs’ shift towards a broader range of instruments that support both exports and domestic production.
Claims down, but risks remain
Claims fell significantly in the first half of 2025, mainly due to fewer insolvent states. Total claims reached $3.7 billion, down 31% from the second half of 2024. Medium- and long-term export (MLT) business continued to account for the largest share of claims (52%), with claims falling to $1.9 billion – $1.7 billion lower than in the previous period. Losses related to sovereign debt (e.g. Ghana, Zambia, Ethiopia) have moderated, but claims related to sanctions against Russian entities have increased and now account for more than half of all MLT claims. The short-term revolving credit business has seen a modest increase in claims and this trend is expected to continue in the next half of the year – driven by economic, geopolitical and sectoral factors.
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About Eximbanka
As the only direct instrument of the state for export promotion, the Eximbanka is an important part of the chain responsible for promoting the country’s economic policy in the field of external economic relations. It offers a wide range of export-related financial products, especially credit insurance, financing and guarantees. As a state export credit agency, it enables Slovak exporters to enter into trade and investment relations where the commercial financial sector is less interested in taking on risk and therefore performs a complementary function.
Media contact Martina Vráblik Solčányiová
EXIMBANKA SR
Tel: +421 903 542 072