page_title: Hamburg
section_title: Economy
hierarchical_section_title: Hamburg / Economy
caption_attribution_description: Deutsch: Die Hamburger Börse mit der Handelskammer in Hamburg-Altstadt überstand den Großen Brand von 1842. Sie wurde von 1839 bis 1841 nach Plänen von Carl Ludwig Wimmel und Franz Gustav Forsmann erbaut. This is a photograph of an architectural monument. It is on the list of cultural monuments of Hamburg, no. 29221
context_page_description: Hamburg, officially the Free and Hanseatic City of Hamburg, is the second-largest city in Germany after Berlin and 7th largest city in the European Union with a population of over 1.84 million.
  One of Germany's 16 federal states, it is surrounded by Schleswig-Holstein to the north and Lower Saxony to the south. The city's metropolitan region is home to more than five million people. Hamburg lies on the River Elbe and two of its tributaries, the River Alster and the River Bille.
  The official name reflects Hamburg's history as a member of the medieval Hanseatic League and a free imperial city of the Holy Roman Empire. Before the 1871 Unification of Germany, it was a fully sovereign city state, and before 1919 formed a civic republic headed constitutionally by a class of hereditary grand burghers or Hanseaten. Beset by disasters such as the Great Fire of Hamburg, North Sea flood of 1962 and military conflicts including World War II bombing raids, the city has managed to recover and emerge wealthier after each catastrophe.
  Hamburg is Europe's third-largest port.
context_section_description: The Gross domestic product (GDP) of Hamburg was 119.0 billion € in 2018, accounting for 3.6% of German economic output. GDP per capita adjusted for purchasing power was 59,600 € or 197% of the EU27 average in the same year. The GDP per employee was 132% of the EU average. The city has a relatively high employment rate, at 88 percent of the working-age population, employed in over 160,000 businesses. The average income in 2016 of employees was €49,332.
  The unemployment rate stood at 6.1% in October 2018 and was higher than the German average.
caption: The Hamburg Stock Exchange
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