Since 2015, the Export-Import Bank has worked under several constraints that have limited its ability to finance American exports. AAF’s Director of Financial Services Policy Thomas Wade examines the trends in the bank’s output and notes that, while requiring reform, the bank must be adequately staffed and funded to fulfill its mission.

Points include:

• Due to operational and staffing constraints, U.S. export credit volumes are well below 2015 levels and are a small fraction of those issued by international official export credit agencies;
• Authorizations to small businesses now make up over 50 percent of the total value of authorizations, but in raw figures the actual financial support lent to small businesses is less than half the support provided in 2013; and
• The bank’s current authorization will lapse in September.

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