- The economy is driven by increasing employment, housing investment and consumption
- The forestry industry invests
- Strong growth relative to the rest of Europe with one of the lowest levels of public debt.
- Challenges with growing domestic imbalances and political gridlock.
- The forestry industry is investing at a fast pace again after the financial crisis
- Strong exposure to Russia along with the telecom industry’s significant setbacks have produced some structural challenges
- The Baltic States are small, open economies with a high dependency on the outside world.
- Of the three countries in the Baltic region, Estonia has the most well developed economy.
- All countries in the Baltic region are actively working to become an integrated part of Europe.
- Estonia switched to the euro in 2011, Latvia in 2013 and Lithuania in 2015.
- Being a part of the euro aims to promote investments in the Baltic region and increase integration with Europe.
- The Baltic States conducted an internal devaluation in connection with the financial crisis in 2009-2010 where wage levels were sharply adjusted downwards and unemployment rose. Since then, the economies have recovered and are today developing at a good pace.
- All three of the Baltic economies have significant exposure to Russia, which accounts for 11-20% of their total exports.