UK Export Finance (UKEF) Annual Benchmarking 

First published in 2010, the BExA Annual ECA Benchmarking Paper measures UK Export Finance, the UK's Export Credit Agency (ECA) against other ECAs around the world, and has become the go-to guide to determine how the UKEF product range compares.  

In this time, BExA has reported on a quadrupling of the trade supported by UK Export Finance.  UKEF’s product range has widened considerably over this period and BExA continues to press for innovation and improvements to the Department’s agility as it begins its second century of underwriting exports.

 

BExA's 12th Annual Benchmarking

Sustainable exporting - December 2021

The benchmarking report praises UKEF for stepping up to support exporters during the pandemic, and for the increase in its business volumes.  However, concerns remain around turnaround times and premium pricing. 

In reviewing advancement on 2020 recommendations, BExA welcomes the launch of the Government’s new Export Strategy – “Made in the UK, Sold to the World” - in November 2021.   BExA also applauds UKEF’s Export Development Guarantee (EDG) and General Export Facility (GEF), which are considered to be game changers for UK exporters, and recommends that these products be marketed effectively to ensure as many exporters as possible benefit from the support. 


BExA's 11th Annual Benchmarking

Exporting in the new "normal" - December 2020

The benchmarking report notes that while BExA believes that UKEF has developed into one of the world’s leading ECAs, there is “still work to be done”, primarily in terms of UKEF’s interest rate support, accessibility and speed of response, and range of products for the current economic environment. BExA believes that UKEF’s existing products should be extended in order for it to remain competitive with the offerings and risk appetite of other ECAs as they gear up post-COVID.  BExA applauds UKEF’s “excellent and broad” product range, which it scores 9/10. It notes that recently launched products such as the Export Development Guarantee (EDG) and the General Export Facility (GEF) have the potential to be “game-changing financial products for existing exporters and crucial for businesses embarking on exporting”.  


BExA's 10th Annual Benchmarking

100 years underwriting export - October 2019

BExA's 10th annual benchmarking of UK Export Finance (UKEF) provides an analysis of UKEF’s activities and reflects upon the range and quality of support over the last 12 months, the last decade, and in comparison to other countries’ export credit agencies.  The paper coincides with UKEF’s centenary year and is entitled “100 years underwriting exports”. It notes that UKEF’s product range has widened considerably over the last decade, but that BExA, as an independent national trade association representing the interests of the export community, will keep pressing for innovation and improvements.

 


BExA's 9th Annual Benchmarking

Strategy and Reality - October 2018

UKEF’s results for 2017-2018 financial year show another solid year although with no real growth in volume or exporter numbers. Support was provided to more than 190 UK exporters selling to over 75 countries. Some 77% of these exporters were SMEs, continuing UKEF’s ambitions to grow much needed support for these exporters although more work is needed to inform and engage this demographic. 

Whilst UKEF is still considered one of the world’s best Export Credit Agencies, some key issues need to be addressed to ensure UKEF can meet its own Business Plan as well as DIT’s Export Strategy.