Overnight November trade data for Japan was published, showing the adjusted trade deficit was 60.8 billion yen because exports fell 7.9 per cent – though worth noting that imports slumped by 15.7 per cent. The drop was blamed mainly on a 5.4 per cent fall in exports to China, Japan’s biggest trading partner. Exports to the rest of Asia fell 5.7 per cent and those to the United States saw a 12.7 per cent decrease, CNBC reports. This is a secular change for a nation which in the 1990s through to 2009 used to run monthly trade surpluses of 500 to 1,000 billion yen.
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