EKN Jan-June 2016: Guarantees on the same level as last year

– There are many excellent export opportunities for Swedish businesses, even though there is political unrest in many parts of the world and growth in the global economy remains weak. Swedish exporting companies, both large corporations and small to medium size enterprises, offer products and services that are attractive in the global market and they are looking to do business all over the world, says EKN’s Director-General Anna-Karin Jatko.

A substantially larger proportion of the volume of guarantees than last year – 42 per cent compared to 18 per cent – was for transactions to high-income countries. The three largest transactions guaranteed over the period were to high-income countries within the OECD and a large number of the guaranteed transactions were in the European telecom sector.

The period’s offer volume amounted to SEK 24.0 billion, as against SEK 32.6 billion last year. Some of the larger offers are for transactions to Iran.

– Exporting companies have shown great interest in EKN’s possibilities to guarantee business with Iran since sanctions were eased, says Anna-Karin Jatko.

Claims paid and provisions for future claims have increased during the period and contribute to a loss of SEK 1,758 million.

– The increase in provisions and claims paid is mainly related to a small number of large transactions. With its strong financial position, EKN can handle claims with its own funds, says Anna-Karin Jatko.