Yes, this is done using scheduling rules. You will also need a couple of processes, one for the export and the other for the import. The exporting process would have the following 3 rules:
FIND MyObject WHERE MyObject.UpdatedOn > SystemSettings.MyObjectExportedOn
EXPORT MyObject TO 'c:/export/MyUpdatedObjects.csv'
SystemSettings.MyObjectExportedOn = CURRENT_DATE
You would also need to add attribute MyObjectExportedOn of type Date to object SystemSettings. The importing process would have the following single rule:
IMPORT MyObject FROM 'c:/import/MyImportedObjects.csv'
Finally you need to add two scheduling rules to start the exporting and importing processes respectively at the desired time of day.