Japan has recorded a 30th straight monthly trade deficit, despite a plummeting yen, demonstrating that it is no longer an export-driven economy.
Trade volumes — the actual quantity of goods shipped — rose just 3.9 per cent on a year ago even though the yen has depreciated from Y80 to Y120 against the dollar over the past couple of years.
The trade figures show how years of offshoring by Japanese companies mean the country no longer enjoys a rapid boost to exports when the yen falls.
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