Beijing. China’s exports plunged 14.5 percent in July compared with a year ago, adding to pressure on the ruling Communist Party to reverse an economic slump.

Exports fell to $281.8 billion as the decline widened from June’s 12.4 percent fall, customs data showed Tuesday. Imports fell 12.4 percent to $201.2 billion in a sign of weak domestic demand, widening from the previous month’s 6.8 percent loss.

The country's global trade surplus narrowed by 20.4 percent from a record high a year ago to $80.6 billion.

Chinese leaders are under pressure to shore up business and consumer activity after the world’s second-largest economy grew by only 0.8 percent in the second quarter of 2023 from the previous three-month period.

The ruling party has promised measures to support entrepreneurs and to encourage home purchases and consumer spending but hasn’t announced large-scale stimulus spending or tax cuts.

Add as a preferred source on Google +