Export-Import Bank of the United States Releases 2022 Competitiveness Report
WASHINGTON – The Export-Import Bank of the United States (EXIM) today released the annual Report to the U.S. Congress on Global Export Credit Competition for Calendar Year (CY) 2022, also known as the EXIM Competitiveness Report. This year’s report is titled “Competing for Jobs through Exports” and focuses mainly on the transition phase that many medium- and long-term export and trade finance organizations are undergoing around the world. A summary of key findings includes:
- The continued expansion in the use of ECAs to build export capacity domestically;
- India as a major and growing player among the set of suppliers of official MLT tied export financing, rising to the third position among all MLT official tied export finance providers in 2022;
- A reversal of the long-term trend of a declining share of official support falling under the OECD Arrangement;
- A leveling off in China’s estimated MLT official tied support; and
- The continued emphasis across the ECA world on climate- and sustainability-related finance.
On an annual basis, EXIM’s Competitiveness Report aggregates input from U.S. exporters and lenders as well as export credit agency counterparts and comprehensively analyzes official export credit and trade-related finance provided by governments around the world. The report includes an annual global survey of official MLT export credit practitioners, and an account of U.S. exporter and lender experiences with EXIM during that period.
“The 2022 competitiveness report shows there is considerable headroom for EXIM to build on its strong performance this past year and be at the front of the export credit agency field in years to come,” said EXIM President and Chair Reta Jo Lewis. “I am particularly excited that EXIM’s Make More in America (MMIA) initiative is robust and on par with the domestic financing trend firmly taking hold among ECAs and documented in this report. One of my strategic goals remains helping to mobilize our public and private economic development partners at the federal, state, and local levels to advocate for EXIM in support of U.S. exports and jobs.”
The report also includes recommendations from EXIM’s 2022-23 Advisory Committee and its subcommittee members.
The report fulfills the agency’s statutory requirement to report on EXIM’s ability to provide financing that is competitive with other major foreign government providers of export credit and how EXIM enables U.S. companies to be competitive in global export sales.
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated about $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.