Manufacturing grew significantly by 5 per cent in real terms from 2023 to 2024, while its contracted by 2.9 per cent in real terms on the national level Germany. This was due to positive developments in vehicle construction and the repair and installation of machinery and equipment. However, mechanical engineering declined. Construction in Hamburg also grew by 1.3 per cent in real terms compared to a decline of 3.7 per cent in real terms nationally. Public and other services, education, health and financial, insurance and business services, property and housing developed far more positively than nationally level and accounted for a significant 3 and 11 per cent respectively of Hamburg's economic output in real terms. The service sector including trade, transport, catering, information and communication grew slightly by of 0.7 per cent, which corresponds to the national level. The results for 2024 are based on preliminary figures by the Working Group on National Accounts of the Länder. More information can be found here.
mm/kk/pb
Statistical Office North presents preliminary figures for 2024 - GDP up by 1.7 per cent
Hamburg's gross domestic product (GDP) rose by 5.3 per cent in 2024 over 2023, according to preliminary figures released by Statistics North in late March. When price changes are taken into account, this results in a real increase in economic output of 1.7 per cent, which is "significantly" above the national level. There, GDP rose by 2.9 per cent in nominal terms and fell by 0.2 per cent in real terms.
Manufacturing in Hamburg rises 5 per cent
Sources and further information
More
Similar articles
Hamburg Tourismus presents good first half-year figures
Upswing in maritime sector
EUR 12 billion for German start-ups
