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 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 36.6 billion ISK, while the expenditures were 17.9 billion ISK in the higher education sector and 2.4 billion ISK in the government sector.
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.