“Import and export are expected to decline in 2020. In this regard, the CBA recommends commercial banks to support the import of products that are socially significant for the country, such as medical supplies and food products,” Rustamov noted.
The balance of payments is a statistical reporting system that reflects the amount of economic transactions performed by the country’s residents with non-residents over a certain period.
The current transactions for 2019 amounted to 4.3 million manat ($2.5 million), and the foreign trade balance - 8.5 million manat ($5 million).
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