Composition of the Soviet Union's foreign trade 1976, by sector

In 1976, almost 58 percent of the Soviet Union's total exports were made up of fuels and other basic products, as the USSR became a global leader in the production of oil and raw materials. While the Soviet Union could have received better prices by exporting its natural resources to the west, it prioritized trade with other member states of the Council for Mutual Economic Assistance (COMECON) for political reasons. Similarly, while the Soviet Union could have imported higher quality manufactured goods (i.e. machines, equipment, and consumer goods) from the west, it chose instead to import a disproportionate share of these from COMECON members.