Friday, March 28, 2008

EXIM Bank export support inches up by 0.4% y/y in 2007.

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EXIM Bank export support inches up by 0.4% y/y in 2007. EXIM Bank supported SKK 85.4bn of exports last year, according to the preliminary results of the bank, spokeswoman Alena Groschova informed. The volume of supported export activities thus rose up slightly by 0.4% y/y. It represented 6% in total export and its share dropped by 0.9pps y/y. EXIM Bank attributed the relative decline in its support to the high annual growth of exports. Banking services accounted for the larger 65.9% part of export support while the remaining part constituted insurance services. Volume of provided loans expanded by 6.6% y/y to SKK 7.8bn at end-2007 while refinancing loans were up by 8.3% y/y to SKK 18.6bn. In terms of geographical structure, 91.5% of supported export was directed to EU or OECD countries and in terms of product type, machinery and equipment held the largest share of 18.9% in 2007, followed by chemical products with 14.6%. EXIM Bank is state-owned and was established specifically to stimulate export activities.

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EXIM Bank export support inches up by 0.4% y/y in 2007.

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