in unit labour costs. Despite this (and despite growth being weaker than expected in the euro zone), NMS foreign trade … continues to perform excellently. Foreign trade has been even more instrumental in generating GDP growth in the first quarter of … 2005 than in the past. It should be pointed out, however, that NMS trade with the 'old' EU has grown at a relatively slower …

growth in Ukraine has been spectacular, reflecting weak investment demand and the deterioration of foreign trade. By and …

output, construction, foreign trade and quarterly GDP figures confirm this development. The economic recovery in the 'old EU …, only Estonia and Lithuania currently meet all the Maastricht convergence criteria. A brief study of foreign trade data … reveals that in the Baltic States, foreign trade deficits are very high for goods even more so than for services. The NMS in …

The transition countries approach EU enlargement with GDP growth outperforming the 'old' EU. In 2003, Poland's economy … prolonged near-stagnation in the EU has had limited impacts on GDP growth in the transition (and even the accession) countries …, though remaining quite high. Moderate and fairly stable growth is also expected in other transition countries not yet …

The external conditions facing the transition economies slightly improved on balance during the year 2004. The eight … Macedonia), as well as in Belarus and Ukraine (Russia's GDP grew by 7% again). The transition economies have thus been one of … (except Slovakia) and in the remaining transition countries as well (except Romania, Serbia and Ukraine). Russian inflation …

of trade with China became less friendly. Today, GDP in North Korea is reportedly lower than in 1990, notwithstanding a …

exposure to the Russian market. The Baltic States and some other NMS will be those most affected on account of their trade …