NZEC provides political (country) risk and commercial risk cover for Short-term trade credit and Export credit guarantee. We have country risk classification for a wide range of countries.
Select a region to see country information (risk rating and cover status) for countries in that region. Or use the Country list A to Z to browse an alphabetical list of countries.
| Country | Risk rating | Cover status |
|---|---|---|
| Afghanistan | 7 | Off cover |
| Albania | 5 | Limited cover |
| Algeria | 5 | Limited cover |
| American Samoa | 5 | Limited cover |
| Angola | 6 | Limited cover |
| Antigua and Barbuda | 7 | Off cover |
| Argentina | 7 | Limited cover |
| Armenia | 6 | Limited cover |
| Aruba | 6 | Limited cover |
| Australia | 0 | On cover |
| Austria | 0 | On cover |
| Azerbaijan | 4 | Limited cover |
| Bahamas | 4 | On cover |
| Bahrain | 6 | Limited cover |
| Bangladesh | 5 | Limited cover |
| Barbados | 6 | Limited cover |
| Belarus | 7 | Off cover |
| Belgium | 0 | On cover |
| Belize | 7 | Off cover |
| Benin | 6 | Limited cover |
| Bhutan | 6 | Limited cover |
| Bolivia | 6 | Limited cover |
| Bosnia and Hercegovina | 7 | Limited cover |
| Botswana | 3 | On cover |
| Brazil | 5 | On cover |
| Brunei | 2 | On cover |
| Bulgaria | 3 | On cover |
| Cambodia | 6 | Limited cover |
| Cameroon | 6 | Limited cover |
| Canada | 0 | On cover |
| Cape Verde | 6 | Limited cover |
| Chad | 7 | Off cover |
| Chile | 2 | On cover |
| China | 3 | On cover |
| Chinese Taipei | 1 | On cover |
| Colombia | 4 | On cover |
| Congo, Dem. Rep | 7 | Off cover |
| Costa Rica | 4 | On cover |
| Côte d'Ivoire | 5 | Limited cover |
| Croatia | 4 | On cover |
| Cuba | 7 | Limited cover |
| Curacao | 5 | Limited cover |
| Cyprus | 2 | Limited cover |
| Czech Republic | 0 | On cover |
| Denmark | 0 | On cover |
| Djibouti | 7 | Limited cover |
| Dominican Republic | 4 | Limited cover |
| Ecuador | 6 | Limited cover |
| Egypt | 5 | Limited cover |
| El Salvador | 6 | Limited cover |
| Estonia | 0 | On cover |
| Eswatini | 6 | Limited cover |
| Ethiopia | 7 | Limited cover |
| Fiji | 5 | Limited cover |
| Finland | 0 | On cover |
| France | 0 | On cover |
| French Polynesia | 3 | Limited cover |
| Gabon | 6 | Limited cover |
| Georgia | 6 | Limited cover |
| Germany | 0 | On cover |
| Ghana | 6 | Limited cover |
| Greece | 0 | Limited cover |
| Guatemala | 4 | Limited cover |
| Guinea | 7 | Off cover |
| Guyana | 6 | Off cover |
| Haiti | 7 | Limited cover |
| Honduras | 5 | Limited cover |
| Hong Kong | 2 | On cover |
| Hungary | 4 | On cover |
| Iceland | 0 | On cover |
| India | 3 | On cover |
| Indonesia | 3 | On cover |
| Iran | 7 | Limited cover |
| Iraq | 7 | Limited cover |
| Ireland | 0 | On cover |
| Israel | 1 | On cover |
| Italy | 0 | On cover |
| Jamaica | 6 | Limited cover |
| Japan | 0 | On cover |
| Jordan | 5 | On cover |
| Kazakhstan | 5 | Limited cover |
| Kenya | 6 | Limited cover |
| Kiribati | 6 | Limited cover |
| Korea, South | 1 | On cover |
| Kosovo | 6 | Off cover |
| Kuwait | 2 | On cover |
| Laos | 7 | Limited cover |
| Latvia | 4 | On cover |
| Lebanon | 7 | Limited cover |
| Lesotho | 6 | Limited cover |
| Liberia | 7 | Limited cover |
| Libya | 7 | Off cover |
| Lithuania | 2 | On cover |
| Macau | 2 | On cover |
| Madagascar | 7 | Limited cover |
| Malawi | 7 | Off cover |
| Malaysia | 2 | On cover |
| Maldives | 7 | Limited cover |
| Mali | 7 | Limited cover |
| Mauritius | 3 | On cover |
| Mexico | 3 | On cover |
| Mongolia | 7 | Limited cover |
| Montenegro | 7 | Limited cover |
| Morocco | 3 | On cover |
| Mozambique | 7 | Limited cover |
| Myanmar | 7 | Limited cover |
| Namibia | 6 | On cover |
| Nepal | 6 | Limited cover |
| Netherlands, The | 0 | On cover |
| New Caledonia | 3 | On cover |
| Nicaragua | 7 | Limited cover |
| Niger | 7 | Limited cover |
| Nigeria | 6 | Limited cover |
| North Macedonia | 5 | Limited cover |
| Norway | 0 | On cover |
| Oman | 5 | Limited cover |
| Pakistan | 7 | Limited cover |
| Palestinian State | 7 | Limited cover |
| Panama | 4 | On cover |
| Papua New Guinea | 6 | Limited cover |
| Paraguay | 5 | Limited cover |
| Peru | 3 | On cover |
| Philippines, The | 3 | Limited cover |
| Poland | 2 | On cover |
| Portugal | 0 | On cover |
| Puerto Rico | 2 | On cover |
| Qatar | 3 | On cover |
| Romania | 3 | On cover |
| Russia | 7 | Off cover |
| Rwanda | 6 | Limited cover |
| Samoa | 6 | Limited cover |
| Saudi Arabia | 2 | On cover |
| Senegal | 5 | Limited cover |
| Serbia | 4 | Limited cover |
| Seychelles | 6 | Limited cover |
| Sierra Leone | 7 | Limited cover |
| Singapore | 0 | On cover |
| Slovakia | 0 | On cover |
| Slovenia | 0 | On cover |
| Solomon Islands | 7 | Limited cover |
| Somalia | 7 | Off cover |
| South Africa | 4 | On cover |
| Spain | 0 | On cover |
| Sri Lanka | 7 | Limited cover |
| Sudan | 7 | Limited cover |
| Sweden | 0 | On cover |
| Switzerland | 0 | On cover |
| Syria | 7 | Off cover |
| Tanzania | 6 | Limited cover |
| Thailand | 3 | On cover |
| Timor-Leste, The | 6 | Limited cover |
| Togo | 6 | Limited cover |
| Tonga | 6 | Limited cover |
| Trinidad and Tobago | 3 | On cover |
| Tunisia | 6 | On cover |
| Turkey | 5 | On cover |
| Turkmenistan | 7 | Limited cover |
| Uganda | 6 | Limited cover |
| Ukraine | 6 | Limited cover |
| United Arab Emirates | 2 | On cover |
| United Kingdom | 0 | On cover |
| United States | 0 | On cover |
| Uruguay | 3 | Limited cover |
| Uzbekistan | 5 | Limited cover |
| Vanuatu | 6 | Limited cover |
| Venezuela | 7 | Off cover |
| Vietnam | 4 | On cover |
| Yemen | 7 | Off cover |
| Zambia | 7 | Off cover |
| Zimbabwe | 7 | Off cover |
Country premium groups
The categorisation of countries into premium groups 0 - 7 forms the basis for calculating NZEC's premium for political risk cover. A country rated 0 represents the lowest risk category, while 7 represents very high risk.
Political risk relates to a country's lack of foreign exchange - and therefore its ability to service its external debt - as well as the risks of losses arising from war, civil war, currency inconvertibility, imports or export prohibition.
Period of cover
OECD consensus arrangement
Under the OECD Consensus Arrangement (Arrangement on Guidelines for Officially Supported Export Credits) the maximum period of export credit cover for 'Category 1' (the richer) countries is 5 years with a possible extension to 8.5 years after prior notification in the OECD. The maximum term for countries in 'Category 2' is 10 years.
Ship building and aircraft purchases are covered by special rules with maximum repayment terms ranging between 5 to 12 years. The maximum period of credit for project finance is 14 years, while export credit cover for renewable energy and water projects has a maximum term of 15 years.
However, the specific period of cover offered by NZEC will be influenced by factors such as the level of credit offered to the international buyer, the assessed degree of political risk, and NZEC's National Interest criteria.