This master thesis tries to find out how small states developed after the end of the colonization. When they gained independence, they were mostly underdeveloped and economically dependent on the former colonizers. Each state has taken its own path, some of them became very successful, others not so. Which development strategies were used and why do the levels of development achieved by small states vary so much? Was the trade crucial for development success? The purpose of my thesis is to explore with empirical analysis if export orientation is an appropriate development strategy for the small states per se, or are there some other policy instruments which determine a small country’s successful development. I focused on the analysis of the development of the three small island states - Singapore, Mauritius and Cape Verde. Until today, all three counties have reached very different stages of development. Despite the fact, that export is one of the main development factors for small countries I can assert on the basis of the analysis, that it depends on each county, how they take advantage of given development opportunities.