Like other post-Soviet economies, Azerbaijan is highly trade-dependent; however, it is endowed with a more diversified export structure than many other former USSR countries, especially in neighboring Central Asia. While the centrally planned state ordering system is steadily losing its place as the basis for trade in the former Soviet Union, the Azeri Ministry of Foreign Economic Relations still controls the export of all products considered to be of strategic importance to the national economy.
Key to Azerbaijan's trade future will be the development and operations of a major oil pipeline out of the Caspian Sea. Currently, the construction of a major export pipeline to the Mediterranean is under way and scheduled for completion in 2005.
Exports include oil and gas (84%), chemicals, oilfield equipment, textiles, and cotton. Imports include machinery and parts (32%), consumer goods, food, and textiles.
Principal trading partners in 2000 (in millions of US dollars) were as follows: