Taiwan's Directorate General for Budgeting Accounting and Statistics (DGBAS) has revised its 2020 GDP forecast downwards by 0.7 percentage points to 1.67% to take into account the impact of the coronavirus pandemic.
Siemens Gamesa Renewable Energy (SGRE) and Hai Long Offshore Wind (Hai Long) have announced that the new SG 14-222 DD offshore wind turbine is intended to be used in its 300MW Hai Long 2 project in Taiwan. According to a press release issued today, the deployment of the new turbine for the rest of the 1,044 MW Hai Long pipeline is also being considered.
The Ministry of Economic Affairs says the island's food and beverage industry had its worst sales month in April since November of 2014, as more consumers opted to stay at home and eat due to concerns about the coronavirus.
Taiwan's industrial production index increased 3.51% in April 2020 compared with the same month in 2019. According to a report by the Ministry of Economic Affairs (MOEA), an annual comparison by main industrial division showed that manufacturing increased 4.15%, mining & quarrying increased 21.89%, electricity & gas supply decreased 5.35% and water supply decreased 0.19%.
Taiwan's export orders in April 2020 increased 2.3% to US$38.53 billion from the same month in 2019, according to a report by the Ministry of Economic Affairs, although, when measured in New Taiwan dollars, given the local currency's appreciation, the report said export orders were approximately NT$1,159.2 billion, which was down 0.3% year-on-year.
Taiwan President Tsai Ing-wen was inaugurated for a second four-year presidential term today together with Vice President Lai Ching-de. The Ministry of Foreign Affairs reported that 92 foreign dignitaries from 41 countries congratulated President Tsai Ing-wen on her inauguration via pre-recorded video messages.
The Central Epidemic Command Center says Taiwan is in talks with Stanford University to create a protocol for travellers that will help shorten the amount of time they have to stay in quarantine when they go abroad.
Germany and France have jointly proposed a €500 billion recovery fund to be distributed to EU countries worst affected by the coronavirus pandemic.