Armenia's main trading partners are Belgium, Russia, the US, Iran, Switzerland, Israel, Georgia, the UK, the UAE, and the EU. Exports include gold and diamonds, aluminum, transport equipment, electrical equipment, and scrap metal. Imports include grain and other foods, fuel and energy. Inter-republic trade has suffered as a result of border hostilities, particularly the ongoing conflict over the Armenian enclave of Nagorno-Karabakh in Azerbaijan, which may prevent the proposed Caspian Sea oil pipeline from passing through Armenia. As of 2003, recent talks between the leaders of Armenia and Azerbaijan represented a positive step toward resolving the dispute.
Principal trading partners in 2000 (in millions of US dollars) were as follows:
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