Estimation of Trade Specialization: the Case of the Baltic States

Abstract

Global trade environment has changed in three major ways in recent decades. International trade has grown rapidly in value and volume, the composition of trade has altered significantly, and trade flows have been extensively liberalised. Increasing international trade is crucial to the continuance of globalization. Globalization and integration processes are having a major impact on the international trade system. Current economic integration processes (accession of Lithuania, Latvia, Estonia and other States into the EU) expanded the boundaries of the European Union thus influencing tendencies of changes of nature and pattern of trade specialization.