Economic Changes For The Baltic Sea States

World War II and Baltic Sea State Economies

The Baltic Sea countries have served as an economic powerhouse in Europe since the Middle Ages. Economists frequently discuss the synergistic effect that each country in this area has in supporting the economy of one another to create this powerhouse effect. The economy in the Baltic Sea countries has faced many pressures over the years in the midst of World War II and control under the Soviet Union.

From 1940 to 1953, the economies of states like Estonia, Latvia, Lithuania, Poland and other Baltic Sea States were impacted by the control of the Soviet Union regime. Many workers were lost due to the deportations that the Soviet Union forced, such as the deportation of over 200,000 individuals to remote areas of the Soviet Union.

In 1941, the Nazis of Germany then invaded the Baltic Sea States and interrupted the control that the Soviet Union had over these states. The harm that was done to workers and the Baltic Sea citizens was intensified under the Nazi regime. There were thousands of people deported and killed in the masses as a result of the invasion of the Nazis.

 Under the Nazi regime, the Baltic Sea States were forced to create a national collectivist agricultural industry that supported Germany. The private farms of farmers were taken away to serve this collectivist notion.

Present Day Baltic Sea State Economies

Today, the economies of the Baltic Sea States can be divided into two groups according to income. The high-income states of the Baltic Sea region are Finland, Denmark, Norway, Sweden and Germany. The low-income states of the Baltic Sea region are Latvia, Lithuania, Estonia, Russia and Poland. The latter countries are now considered to have economies that are in the post-socialist stage and are contributing to the European economy as a whole.

The Baltic States are now part of the European Union (EU) and North Atlantic Treaty Organisation (NATO) today. Being part of these organizations have helped the Baltic States to integrate into European culture and the global economy. Baltic States like Lithuania, Latvia and Estonia are no longer dependent on Russia as they once were in their socialist stages.

The regional integration of the Baltic Sea States also now attracts investors from all around the world. The integration of the Baltic Sea States also has a profound impact on the individual economies of each state. For example, lower-income Baltic States like Lithuania, Estonia and Latvia are now able to gain access to sophisticated investors and consumers from around the world. They now have the opportunity to become players in an expansive market. The higher-income countries now have the opportunity to gain greater access to global markets and can also engage in specialization of their products.

As the Baltic Sea States continue to work to become stronger members of the European Union, the regional economy will only continue to strengthen in the future. Lower-income countries in the Baltic Sea region will benefit as a result.