Turnover in the business economy was approximately 4,400 billion ISK in 2018 compared with 4,140 billion ISK in 2017, an increase of 6.2%. Total equity increased by 10.5% in 2018 and was 3,300 billion ISK.
R&D expenditures in the business enterprise sector, higher education sector and the government sector were 56.9 billion ISK in 2018, or 2.02% of GDP. R&D expenditures were 55.1 billion ISK in 2017, or 2.11% of GDP while 2016 expenditures were 53 billion ISK or 2.13% of GDP.
The Icelandic population will grow from 357 to 434 thousand in the next 50 years according to Statistics Iceland’s medium variant population projection.
Figures have been updated.