Regional Trends
East Asia & Pacific and Europe & Central Asia have been particularly affected, experiencing the largest declines in exports over the past two years. 2/

Real and Nominal Effective exchange rates of Uzbekistan as of 2014-11

For example, consider Kazakhstan's balance of payments data. There is a difference between the current account (+ the capital account and errors/omissions) and the financial account. As you can see, it never balances, but only after taking into account the change in reserves does it come to balance.

Krugman’s equation is simple, but it lacks real-world accuracy. The balance of payments (BOP) is divided into two parts: above-the-line components and below-the-line components. 1/