(EU-newbies III; 09-03; p.3)

Trade relations

The already existing economic interconnection of the Baltics and their neighbours can be shown by the direction of good flows:

country	export share of GDP*	export goods	import goods	trade partners export-import
Estonia	91 %	machinery, paper	machinery, chemicals	FIN 34, S 14 - FIN 18, D 11
Latvia	45 %	wood, machinery	machinery, chemicals	D 17, UK 16 - D 17
Lithuania	50 %	mineral products, textiles	minerals, machinery	UK 14, LV / D 12, R 11 - R 25, D 17
Legend: * according to EU-data mentioned above, trade partners: share in percent, only trade relations were counted that make up at least 10% for the respective country; FIN = Finland, S = Sweden, D = Germany, UK = United Kingdom, LV = Latvia, R = Russia Source: CIA World Fact Book 2002

 

Suggestions for interpretation

Comparing the given data leads to the following facts concerning the three newbies:

• their population adds up to no more than e.g. the inhabitants of the St. Petersburg region;
• their economic structure is similar to the EU's, the main sector is services; the Baltics on the other hand have a relatively high share of the agrarian sector, it comprises for the most part small farms for subsistence, however;
• trade relations with the EU are already strong, from an EU's perspective Finland and Germany profit most of it already.
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