In the years 2018-2020, 74% of Icelandic enterprises introduced new or improved products, new or improved business processes or worked on innovation of products without it resulting in products being introduced to the market within the period. The innovation survey follows an international model. In comparision, 63% of enterprises were innovative in Norway within the period, 55% in Sweden and 48% in Denmark.

Enterprises introducing new or improved products, i.e. goods and/or services, to the market were 46% of the whole. In the years 2016-2018, the same applied to 29% of enterprises. The change between periods results from a 18 percentage points increase in goods and a 14 percentage points increase in services, though it should be kept in mind that the division of goods on the one hand and services on the other is a subject to the respondents’ perception.

Regardless of whether or not they had introduced new or significantly improved product to the market, enterprises could be innovative by having introduced new or improved processes, which applied to 68% of the whole.

Enterprises were also considered innovative if they had work on an innovation of goods or services that did not result in products being introduced to the market within the period, which applied to 51% of enterprises.


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