During the 1990s, central and eastern European economies redirected their external trade towards the EU. Most of these countries have joined the EU, and will soon be joining the euro area, whence the possibility of external asymmetric shocks resulting from an overdependence on a sector or destination. Two indicators (sectoral and geographic) are worked out to measure the exposure to trade shocks: the symmetry of the export structures of a future member with the euro area and its trade openness. Central and eastern economies can thus be classified by their compliance with the Kenen criterion, revised and transposed to the geographic diversity of exports. In comparison with the two countries of the euro area most vulnerable to sectoral and geographic shocks (Finland and Ireland), the results indicate a high exposure to such a risk. Bulgaria, Slovakia and, even more, Estonia and Latvia stand out on the list of pairs by country/branch and country/destination that are liable to be at the origin of a macroeconomic shock. Since Bulgaria and Latvia have not actually started converging with the euro area, they might consider postponing membership in the EMU or implementing a cyclical stabilization fund before joining. This recommendation runs counter to the endogenous OCA theory, which is invoked when intra-industry trade grows. But an increase in the proportion of such trade between an economy in central or eastern Europe and the euro area does not necessarily reduce exposure to the aforementioned shocks. During the 1990s, growing intra-industry trade went in hand with increasing vulnerability to sectoral shocks in Latvia, evidence of this being what happened in the branch of textiles. [ABSTRACT FROM AUTHOR]