R&D in Iceland

In 2005, R&D expenditure in Iceland amounted to
28 billion ISK (ca. 335 MEUR). As a share of the
Gross Domestic Product (GDP), R&D expenditure
accounted for 2,8%

From 2003 to 2005 total R&D expenditure in fixed
prices has increased by 4 billion ISK (ca. 48 MEUR)
or by 16%. R&D expenditure, as a share of the GDP,
has decreased somewhat whilst the GDP has
increased by 20% since 2003

Of all sectors, R&D expenditure was highest (34%) in the
health sector in 2005, amounting to 9,3 billion ISK (ca. 111 MEUR).
In comparison, 3,1 billion ISK (ca. 37 MEUR) was spent on R&D in
the fisheries and agriculture (11%). Basic research is not included in
these figures.

Iceland is ranked 5th among OECD countries for the R&D/GDP ration. Sweden,
Finland, South Korea and Switzerland are ranked ahead of Iceland.

The private sector spent about 14 billion ISK (ca 168 MEUR) on R&D in 2005. This
constitutes about 52% of Iceland's gross expenditure on R&D (GERD).

In 2005, approximately 48% of the total expenditure on R&D was financed by the private sector, 41% by the government and 11% of the funding came from abroad.

In 2005, Sweden had a higher level of R&D expenditure per capita (i.e. 118 thousand ISK or ca. 1,4 thousand EUR) than
Iceland (98 thousand ISK or ca 1 thousand EUR), whilst Iceland had higher levels than Norway (63 thousand ISK or ca. 750 EUR)

Slightly more than 3.200 FTE's were performed in Iceland in 2005, involving 5.700 individuals. Most of the FTE's (47%) were performed within the private sector.

(Compiled by RANNIS in 2007)

---