Credit Insurance in Support of International Trade
351
Figure 20.6 MLT Exports Covered, 2005–09 511 500
450
417 US$, billions
400 300
353 292
200 100 0 2005
total
2006
Europe
2007 year of coverage Asia
2008
2009
Africa
Americas
Oceania
Source: Berne Union databases 2010. Note: MLT = medium/long-term export credit insurance.
Table 20.5 Shares of MLT Exports Covered, 2005–09, by Destination Region
Africa (percent) Americas (percent) Asia (percent) Europe (percent) Oceania (percent) Total exports under cover (US$, billions)
2005
2006
2007
2008
2009
9 23 45 22 1
8 24 45 23 1
9 22 45 23 1
9 22 43 25 1
9 25 38 25 2
292
353
417
450
511
Source: Berne Union databases 2010. Note: MLT = medium/long-term export credit insurance.
2007. Consequently, the Asian share has somewhat declined as a percentage relative to other regions. With the exception of the United States (the largest-exposure country in MLT insurance), the big-exposure countries in this field are all in emerging markets: Russia, Brazil, India, China, the United Arab Emirates, Turkey, Saudi Arabia, and Mexico. This is a contrast to the ST market, which is dominated by industrialized Western European destination countries and the United States. Both new business covered during the year by BU ECAs and the total amounts under cover at year’s end reached an all-time high in 2009. This was