The empirical literature suggest that foreign trade has a positive contribution to economic growth in the most of developing countries. South East European countries have experienced an extension of international trade during the last decade. Therefore the purpose of this paper is to analyse empirically the effects of foreign trade on economic growth of the sample countries as well as to examine the heterogenity across countries and years. Econometric approaches are applied based on 16- year panel data of 8 SEE countries from 1996 to 2011. The estimation results indicate significant positive effect of terms of trade on economic growth. Trade shares, export shares and import shares in GDP are found to be significantly and positively correlated with growth.