30 per cent rise in turnover for industry in Hamburg

1 August 2024

Industry using forward-looking technologies successfully - Industry Coordinator’s annual report finds

Industry in Hamburg is robust and using new technologies such as hydrogen, artificial intelligence (AI) and quantum computing successfully, according to the Senate's Industry Coordinator 2023 annual report, a press release said Tuesday (July 23, 2024). Industry accounts for a share of 31.5 per cent of total turnover in the city.

Hamburg industry: manufacturing sector up again

"All in all, we set positive accents despite difficult conditions in Hamburg. Industry here remains robust and is seizing opportunities for the future," said Andreas Rieckhof, State Councillor at the Ministry of Economics and Innovation. Higher prices for raw material and energy as well as geopolitical challenges are putting a strain on industry. However, the number of industrial companies has risen by 2.3 per cent and turnover by around 30 per cent since the "Industrial Masterplan" was signed in 2023. The gross value added of the manufacturing industry in 2023 came to EUR 18.5 billion or an increase of 13.4 per cent.

Boosting innovations - expanding hydrogen network

Key innovations were advanced in 2023 and the hydrogen network is making progress. The "Sustainable Energy Hub" is driving the sustainable supply of energy in the Port of Hamburg. The upgrading of the Billbrook industrial estate and developing the Bergedorf innovation park are key to closer co-operation between science and industry. Progress has also been made in AI and quantum computing and the “Responsible AI Alliance" is promoting the responsible use of AI. "The measures and their effective implementation are also reflected by the growing innovations in the Hamburg Metropolitan Region. The city has shown the most positive development in Germany in recent years and is pressing ahead in Europe.

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