Export risk and the possibilities of reduction

Straipsnyje nagrinėjamos eksporto rizikos mažinimo galimybės. Tuo tikslu atlikta rizikos rūšių klasifikacijos analizė, įvertinti eksporto rizikos mažinimo būdai. Išsamiau išnagrinėta eksporto kreditavimo rizika ir vienas iš jos mažinimo būdų - eksporto kreditų draudimas.The main problems, which hamper the development of Lithuanian export, are the following: the lack of turnover means; production is sold with a loss for little known buyers; there are no securities that would be paid for goods at the fixed time; often export is suspended to the increased risk countries. Exporters must estimate these difficulties and try to decrease risk. The article analyses kinds of risk in export and ways of risk reduction. Economical literature presents different kinds of risk components and their composition. Often the same component includes different subcomponents according to different authors. According to the author of the article, the following components should be included in export risk analysis: political risk, financial risk, commercial risk and companion selection risk. Lithuanian companies, striving for successful activities in foreign countries, before supporting export credits to foreign partners, have to analyze and estimate possible commercial and political risk which causes distrust of partners, possible bankrupts, not stable economic and political conditions of foreign states. Choosing the way of eliminating them, by sharing with insurance company, an enterprise assures its stableness. The article analyses one way of risk reduction - creation of export credit insurance. Tendencies of services export insurance in Lithuania are the following: only 50% of the credit to Western countries are insured, because this export is connected with commercial risk; only 25% of the export credit to the Baltic states and to Eastern countries are insured. Recommendations for the improvement of export credit insurance in Lithuania are presented in this articl