Export deals backed by UKEF added $31.31 bn to economy in 5 yrs: Study

UKEF’s customers support an estimated 115,000 UK businesses across the country, it found.

The findings demonstrate that when UKEF backs UK exports, the benefits cascade through UK supply chains, creating opportunities for firms to win contracts, grow their order books and create jobs in communities across the country, according to a UK government release.

“These findings confirm that when UKEF supports a project, the benefits extend far beyond the exporters we work with directly,” CEO of UK Export Finance Tim Reid told the UK Trade and Export Finance Forum recently.

UKEF’s report sets out how the UK Government’s export credit agency is supporting businesses to secure overseas contracts, access vital finance and grow internationally.

By offering government backed guarantees and insurance, UKEF helps unlock private sector lending that might otherwise be unavailable across key industries central to the government’s Industrial Strategy. 

Advanced manufacturing received the highest level of direct support, accounting for 23 per cent of UKEF’s customer base over the past five years.

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