Can digital trade innovations sustain trade deficit reductions? The case of Cyprus and other countries

Cyprus has achieved a significant milestone in 2024: it reduced its trade deficit to €8.13 billion from €8.47 billion the previous year which is a 3.97% reduction from the previous year. Since global trade and the economy are becoming more digitized, countries such as Cyprus are using technology to boost their exports, streamline imports, and bring down deficits in the end.

But the main question is whether these reductions can