Dwindling exports add to China's economic worries

BEIJING, Aug. 9 (UPI) -- The world's second-largest economy underperformed last month as exports and imports continued to fall adding to growing concern for China's sagging trade market, analysts say.

Chinese exports generated about $195 billion in July, which is down more than 8 percent from the same month last year -- and far under what even pessimistic analysts were expecting.

Imports fell to $152 billion, also a drop of about 8 percent. The figures were reported by China Customs Statistics, which also noted a $43 billion trade surplus. But that number is also down about 10 percent so far in 2015.

Analysts said the ongoing slide is consistent with economic data that indicates China's economy won't be recovering anytime in the near future.

"Exports are no longer an engine for China growth, no matter what the government does, it's just impossible to see strong export growth as in the past," Bank of Communications economist Liu Xuezhi told Bloomberg. "It means additional slowdown pressure, and it requires the government to be more aggressive in the domestic market."

As a result of the subpar figures, analysts believe China will give more focus to infrastructure spending -- as such investments typically spur economic growth.

Chinese officials are trying to navigate a poor commodities market to revitalize its lackluster economy, which ranks as the world's second-largest.