Recent trends in international trade and investments of the Baltic states
By Alari Purju
The article examines international trade of goods and services and foreign direct investments of the Baltic states. The geography of merchandise trade demonstrates that a list of trade partners of the Baltic states become wider, and the share of the Nordic countries is diminishing. Deeper integration of several clusters of industries (especially in food and wood processing) of the Baltic states is taking place. The revealed comparative advantage index is applied to find out the most advantageous product groups of the countries which belong to the wood processing industry. The growth of services exported by the Baltic states has been impressive in recent years and the new areas such as information and telecommunication and business consultancy developed rapidly. The article describes also some specific features of international trade with Russian Federation and the states neighboring the Russian Federation. The article ends with conclusions and policy suggestions regarding international trade of the Baltic states.
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