North AmericaSouth AmericaWestern Europe – Eastern Europe – Middle EastAfricaAsiaSoutheast Asia & Oceania



The GlobEx Markets logo

Countries in Eastern Europe with an Exchange


The exchanges in the Eastern European region are located in the countries of Albania, Belarus, Bosnia Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, Slovenia and Ukraine.


To learn more about which exchanges are in each country, click on a country link above to begin your search.




Overview of Eastern European Economics and Exchanges


One of the largest emerging and developing markets in the world is Russia. As a member of the BRIC nations, Russia is expected to become one of the world's dominant suppliers of raw materials by 2050.

Russia was the regions highest ranked gross domestic product (GDP) (12th globally) in 2016 with a GDP of $1.3 trillion. Ranked upon Purchasing Power Parity (PPP), Russia (6th) also led the region with a PPP of $3.4 trillion.

During 2017, economic growth in Eastern Europe is expanding but its growth prospects will be tested by a decreasing workforce and weak productivity.

Despite the strength of economic activity in the region, convergence between Western and Eastern European markets is likely to take longer than expected since the highest sustainable long-term growth in most of the Eastern European countries is still significantly lower than it was prior to the global financial crisis.

The Federation of European Securities Exchanges (FESE) represents 35 exchanges, several of which are in Eastern Europe. Some exchanges in the region also belong to the Federation of Euro-Asian Stock Exchanges (FEAS).




History of Exchanges in Eastern Europe


While most of the exchanges in Eastern Europe are relatively young, the capital markets in Poland go back to 1817, which may make the Warsaw Stock Exchange the oldest in the region.

Other older exchanges include the Budapest Stock Exchange (1864), Bucharest Stock Exchange (1882) and the Belgrade Stock Exchange (1894), all of which were established in the later part of the 19th century.


Largest Exchanges in Eastern Europe


The largest exchange in Eastern Europe is the Moscow Exchange (MOEX), which finished 2016 with a market capitalization of $622 billion.

Other large exchanges in Eastern Europe include the Warsaw Stock Exchange ($141b), Budapest Stock Exchange ($23b) and the Zagreb Stock Exchange ($20b).


Sources: World Federation of Exchanges, World Bank, Federation of European Securities Exchanges, Federation of Euro-Asian Stock Exchanges, International Monetary Fund

  • Wall Street Journal
  • Financial Times
  • Bloomberg
  • Nikkei Asian Review
  • Reuters