DOI: 10.36347/sjebm.2014.v01i09.003

Pages: 404-411

The aim of this article is to analyse the economic development before and after the economic crisis of Europe of Baltic countries (Lithuania, Latvia, Estonia). The aim is also to analyse the economic development of the former Soviet Bloc countries or other new EU member states from Central and Eastern Europe (CEE-8) and to compare them on the level of the old Europe (EU-15) and CIS-4. We analysis at how the economic crisis has affected economic development. We will look by gross domestic product (GDP), GDP per capita, and GDP growth rate. Before and after the economic depression, the Baltic States were successful. The Baltic countries had highest growth rates in GDP in Europe. These countries were called the Baltic Tigers. How have these countries done in the economic crisis of Europe of 2008 - 2009 years?