R&D expenditures in the business enterprise sector, higher education sector and the government sector were 72.7 billion ISK in 2020 or 2.47% of GDP. R&D expenditures were 70.8 billion ISK in 2019 or 2.32% of GDP while the 2018 expenditures were 56.9 billion ISK or 2.0% of GDP.
The data collection covers the business enterprise sector, private non-profits sector, the higher education sector and the government sector. R&D expenditures in the business enterprise sector and the private non-profit sector were 49.4 billion ISK, while the expenditures were 20.85 billion ISK in the higher education sector and 2.45 billion ISK in the government sector.
About the data
Expenditures as percentage of GDP are subject to changes in official figures on GDP and R&D expenditures on previous years may also be updated following later data collections. The figures are released annually and collected each year from the higher education and government sector. However, data are only collected every other year from the business enterprise sector.