The Central Bank has prepared preliminary figures for the current account of the balance of payments for 9 months of 2020.
According to preliminary calculations, the current account deficit for nine months was $663 million – less by 63 percent compared to the same period last year ($1.8 billion).
“Main reasons leading to such a result include a significant reduction in imports compared to exports, maintaining the level of remittances almost at the level of last year’s indicators and the on gold prices on the international market,” the Central Bank explains.
It is noted that the fall in energy prices, as well as the slowdown in the world economy caused by the coronavirus pandemic, have affected exports of goods and services – they decreased by $1,1 to $11.8 billion compared to the same of the previous year ($12.9 billion).
Imports of goods and services, meanwhile, amounted to $16.1 billion, which is less by $3.4 in comparison with the corresponding period in 2019 ($19.5 billion).