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 13th Benchmarking Report

Improving delivery of the 9 out of 10 -  March 2023

Whilst UKEF is congratulated on achieving a 9/10 product score for the 9th year running, and for its continued valuable support of UK exporters in 2022, this year's report for the first time also includes a 'useability' metric.  This is a subjective view which aims to reflect UK exporter and service provider opinions of how each UKEF product is performing, and considers ease of access, speed of turnaround and fitness for purpose.   The report delves into the detail of the issues and offers constructive feedback on where improvements can be made. 

 

BExA's 12th Benchmarking Report

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 Benchmarking Report

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 Benchmarking Report

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.