Shanghai's May exports fall 13.1% y/y, imports down 14.7%

BEIJING, June 23 (Reuters) - Exports from Shanghai, home to the world's busiest seaport, fell 13.1% in yuan terms in May from a year earlier, while imports shrank 14.7%, local customs authority said on Thursday.

In the first five months of the year, the city's exports grew 1.6% while imports were down 5.4%, compared with the same period a year earlier.

Shanghai's economy contracted for a second month in May though at a slower pace, weighing on the commercial hub's recovery prospects following a two-month COVID lockdown. (Reporting by Ellen Zhang and Ryan Woo; Editing by Tom Hogue)