MOSCOW, July 12. /TASS/. The transformation of the economy has more affected the geography of exports and imports than their physical volume. This is according to the bulletin of the Bank of Russia "What Trends Say". In the meantime, substitution of imports by domestic production are not going fast.

"The transformation in the Russian economy has more affected the geography of export and import supplies than their physical volume. The main reason was the high adaptability of many companies that have shown the ability to quickly rebuild production processes and supply chains, albeit often at the cost of increased costs. In the meantime, the processes of replacing imports with domestic production are taking place not so fast," the document says.

According to its authors, the automotive and timber industries, as well as air travel, are far from recovering. However, government-oriented industries, the manufacturing industry in general, and the domestic tourism industry reached record levels.

"Most of the problems associated with maintaining current production volumes are solved one way or another. At the same time, there are delays in the implementation and rise in the cost of complex projects, which negatively affects their economic efficiency. Therefore, in the part of the economy focused on domestic demand, the main structural shifts are still forward," the document states.

At the same time, the technological challenge has not yet become more acute, but over time it will intensify, the Bank of Russia believes. Another challenge for the economy is the risk of disruption to the work of rebuilt cross-border supply chains, including technological ones, due to secondary sanctions.