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Atradius-DSB's business is booming

Since July 2002, the Dutch ECA Atradius-DSB is publishing on its website some data regarding the transactions it supports. A comparison of the data for 2004 and 2005 shows that last year the business has been extremely good:

While Atradius underwrote 43 projects in 2004, it provided an export credit insurance for 75 projects in 2005: an increase of 174%

While the total value of the 43 projects in 2004 was € 942,731,862, the total value of the 75 projects in 2005 was € 1,883,633,585: an increase of 200%. In other words the volume of business has doubled in one year.

While in 2004 Atradius supported 3 Cat. A projects, 1 Cat. B project, and 1 Cat. C project, it supported in 2005 8 Cat. A projects, 5 Cat. B projects and 4 Cat. C projects. There are 6 Cat. A projects in the field of dredging, land reclamation and coastal protection in the UAE, Qatar and China, together good for an amount of € 1,320,786,173 (70% of total turnover of Atradius-DSB in 2005).

ECA-Watch finds these figures pretty stunning. Is the Dutch ECA aggressively eating away part of the markets of other ECAs, or have all ECAs been that successful? Such figures can hardly serve as evidence that the agenda of free trade as discussed within the WTO is taken seriously. We will be eager to learn further assessments from the side of the OECD.