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Encyclopedia > Baltic Tiger
A glass skyscraper – an icon of Estonia's economic boom
A glass skyscraper – an icon of Estonia's economic boom

Baltic Tiger is a term used to refer to any of the three Baltic statesEstonia, Latvia and Lithuania – during their periods of economic boom, which started after the year 2000 and continues up to the present moment. The term is modelled on East Asian Tigers and Celtic Tiger, which were used to describe the economic boom periods in parts of East Asia and the Republic of Ireland, respectively. Image File history File links SEB_Estonia. ... Image File history File links SEB_Estonia. ... Taipei 101, the worlds tallest building since its completion in 2004, is located in Taipei, Republic of China (Taiwan). ... Baltic states and the Baltic Sea The Baltic states or the Baltic countries is a term which refers to three countries in Northern Europe: Estonia Latvia Lithuania Prior to World War II, Finland was sometimes considered a fourth Baltic state. ... In economics, the term boom and bust refers to the movement of an economy through economic cycles due to changes in aggregate demand. ... This article is about the year 2000. ... The term East Asian Tigers (Simplified Chinese: 亚洲四小龙; Traditional Chinese: 亞洲四小龍; Pinyin: yÇŽzhōu sì xiÇŽo lóng) refers to the economies of Hong Kong, Singapore, South Korea,and Taiwan. ... Cartoon of the Celtic Tiger - the press media in Ireland use pictures of green striped tigers to symbolise or sometimes mock the Celtic Tiger The Celtic Tiger is a nickname for the Republic of Ireland during its period of rapid economic growth between the 1990s and 2001 or 2002. ... Geographic scope of East Asia East Asia is a subregion of Asia that can be defined in either geographical or cultural terms. ...


After 2000, the Baltic Tiger economies implemented important economic reforms and liberalisation, which, coupled with their fairly low-wage and skilled labour force, attracted large amounts of foreign investment and economic growth. Between 2000 and 2004, the Baltic Tiger states had the highest growth rates in Europe, and this is continued in 2005. In 2004, for example, Estonia grew by 7.8% in gross domestic product, while Latvia grew by 8.5% and Lithuania by 7%. In 2005 economic growth accelerated even more, reaching 10.2% in Latvia, 9.8% in Estonia and 7.5% in Lithuania. All three countries by February 2006 saw their rates of unemployment falling below average EU values. Additionally, Estonia is among the ten most liberal economies in the world, and Lithuania and Latvia have been praised for their macroeconomic stability, especially low inflation and low budget deficits. All three countries joined the European Union in May 2004. This article is about the year 2000. ... Europe is conventionally considered one of the seven continents of Earth which, in this case, is more a cultural and political distinction than a physiographic one, leading to various perspectives about Europes borders. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... A regions gross domestic product, or GDP, is one of several measures of the size of its economy. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...


The Baltic economies are predicted to continue growing at a high annual rate of 5-10% until at least 2010. In the 2000-2010 decade, gross domestic product is expected to rise dramatically, similar to what happened in Ireland during its 1990s economic boom. While their GDP per capita is currently at approximately 50-60% of the European Union average, they are expected to converge in income, even though EU average income is not expected to be reached in the near future. Even their present status at 50% of the EU average is a remarkable improvement in such a short time, considering that in 1999, Latvia and Lithuania had a GDP per capita at only 25% of the EU average. 2010 (MMX) will be a common year starting on Friday of the Gregorian calendar. ... A regions gross domestic product, or GDP, is one of several measures of the size of its economy. ...

Contents


Statistics

Annual GDP growth rate

2000 2001 2002 2003 2004 2005 2006 (e) 2007 (e) Total real growth (2000-2007)
Estonia 7.9% 6.5% 7.2% 6.7% 7.8% 9.8% 7.9% 7.1% 79.8%
Latvia 6.9% 8.0% 6.4% 7.5% 8.5% 10.2% 9.0% 7.0% 84.2%
Lithuania 3.9% 6.4% 6.8% 10.5% 7.0% 7.3% 6.5% 6.0% 69.1%
e - expected values

Data from International Monetary Fund

GDP per capita

In international dollars, at purchasing power parity (PPP). The international dollar is a hypothetical unit of currency that has the same purchasing power that the U.S. dollar has in the United States at a given point in time. ... To meet Wikipedias quality standards, this article or section may require cleanup. ...

2000 2001 2002 2003 2004 2005 2006 2007
Estonia 10,258 11,225 12,300 13,440 14,926 16,414 17,802 19,243
Latvia 7,600 8,452 9,226 10,177 11,396 12,622 13,784 14,933
Lithuania 8,730 9,559 10,420 11,713 12,856 14,158 15,443 16,756
Data from International Monetary Fund

See also


  Results from FactBites:
 
Baltic States: Definition and Much More from Answers.com (2363 words)
The histories of today's Baltic countries took a first "common turn" in the 13th century when Christianity and feudalism were effectively introduced to the region by the invasion of the crusaders from the west (German Sword Brethren, Denmark) and the conversion of Lithuania's rulers from Paganism to Christianity.
In the 18th and 19th centuries, the Baltic provinces (Curonia, Livonia, Estonia and Ingria) and Lithuania in the 19th century, albeit with names and borders different from the present-day countries, were part of the Russian Empire.
After the Baltic states achieved independence in 1991, while German made a comeback as a language of study it was English that became the most commonly studied foreign language, and the role of Russian language in education fell sharply.
Baltic Tiger: Information from Answers.com (458 words)
Baltic Tiger is a term used to refer to any of the three Baltic states – Estonia, Latvia and Lithuania – during their periods of economic boom, which started after the year 2000 and continues up to the present moment.
After 2000, the Baltic Tiger economies implemented important economic reforms and liberalisation, which, coupled with their fairly low-wage and skilled labour force, attracted large amounts of foreign investment and economic growth.
Between 2000 and 2004, the Baltic Tiger states had the highest growth rates in Europe, and this is continued in 2005.
  More results at FactBites »


 
 

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