{"version":1,"asset_type":"statistical_series","data_type":"time_series","slug":"is-rd-expenditure-business-funded","url":"https://apiardata.com/statistics/is-rd-expenditure-business-funded","html_url":"https://apiardata.com/statistics/is-rd-expenditure-business-funded/","title":"Iceland Business-Funded R&D Expenditure (2023)","description":"Iceland's Business-Funded R&D Expenditure: 1.1 % of GDP in 2023, -0.2pp YoY. Eurostat (RD_E_GERDFUND), 2001–2023.","domain":"papers","category":"AI & Research","keywords":["AI & Research","Eurostat","Iceland","2023"],"publisher":"Eurostat","frequency":"Annual","geography":"Iceland","temporal_coverage":"2001/2023","unit":"% of GDP","last_updated":"2026-07-26","last_updated_text":"26 July 2026","data_as_of":"2023","variable_measured":"Iceland Business-Funded R&D Expenditure","license":"https://apiardata.com/data-license","is_accessible_for_free":true,"sources":[{"name":"Eurostat","url":"https://ec.europa.eu/eurostat/databrowser/view/RD_E_GERDFUND/default/table"}],"meta":[{"label":"Frequency","value":"Annual"},{"label":"Coverage","value":"2001–2023"},{"label":"Observations","value":"19"},{"label":"Geography","value":"Iceland"},{"label":"Last updated","value":"26 July 2026"}],"kpis":[{"label":"Iceland (2023)","value":"1.1","unit":"% of GDP","trend":{"direction":"down","value":"-0.2pp YoY"}},{"label":"YoY Change","value":"-0.2pp","unit":"percentage points"},{"label":"Trend","value":"down","unit":""},{"label":"Series length","value":"19","unit":"years of data"}],"series":[{"key":"value","label":"Iceland Business-Funded R&D Expenditure"}],"observation_count":19,"observations":[{"period":"2001","value":1.3},{"period":"2003","value":1.17},{"period":"2005","value":1.26},{"period":"2006","value":1.39},{"period":"2007","value":1.26},{"period":"2008","value":1.23},{"period":"2009","value":1.24},{"period":"2011","value":1.18},{"period":"2013","value":0.62},{"period":"2014","value":0.68},{"period":"2015","value":0.89},{"period":"2016","value":0.89},{"period":"2017","value":0.81},{"period":"2018","value":0.89},{"period":"2019","value":0.96},{"period":"2020","value":1},{"period":"2021","value":1.33},{"period":"2022","value":1.34},{"period":"2023","value":1.08}],"table":{"columns":[{"key":"year","label":"Year"},{"key":"value","label":"% of GDP"},{"key":"yoyChange","label":"Change"}],"rows":[{"year":"2023","value":"1.1","yoyChange":"-0.2pp"},{"year":"2022","value":"1.3","yoyChange":"unchanged"},{"year":"2021","value":"1.3","yoyChange":"+0.3pp"},{"year":"2020","value":"1.0","yoyChange":"unchanged"},{"year":"2019","value":"1.0","yoyChange":"+0.1pp"},{"year":"2018","value":"0.9","yoyChange":"+0.1pp"},{"year":"2017","value":"0.8","yoyChange":"-0.1pp"},{"year":"2016","value":"0.9","yoyChange":"unchanged"},{"year":"2015","value":"0.9","yoyChange":"+0.2pp"},{"year":"2014","value":"0.7","yoyChange":"+0.1pp"},{"year":"2013","value":"0.6","yoyChange":"-0.6pp"},{"year":"2011","value":"1.2","yoyChange":"unchanged"},{"year":"2009","value":"1.2","yoyChange":"unchanged"},{"year":"2008","value":"1.2","yoyChange":"-0.1pp"},{"year":"2007","value":"1.3","yoyChange":"-0.1pp"},{"year":"2006","value":"1.4","yoyChange":"+0.1pp"},{"year":"2005","value":"1.3","yoyChange":"+0.1pp"},{"year":"2003","value":"1.2","yoyChange":"-0.1pp"},{"year":"2001","value":"1.3","yoyChange":"n/a"}]},"qa":[{"question":"What does this indicator measure?","answer":"This page tracks R&D expenditure funded by the business enterprise sector as a share of GDP in Iceland from 2000 to present. Business-funded R&D reflects private sector innovation investment and the depth of industry-driven research. It is published by Eurostat and updated annually."},{"question":"How current is this data?","answer":"The most recent observation covers 2023. Eurostat typically publishes this series with a lag of several months after the reference period. The series runs 2001–2023 (19 observations)."},{"question":"What is the long-term trend?","answer":"The series peaked at 1.4 % of GDP in 2006 and reached its lowest recorded value of 0.6 in 2013. The latest reading of 1.1 in 2023 represents a change of -0.2pp."}]}