R&D tax expenditure and direct government funding of BERD in Iceland
Iceland: R&D tax expenditure and direct government funding of BERD was 1.04 Percentage of GDP in 2024. ▲ Rising
R&D tax expenditure and direct government funding of BERD in Iceland, 2000–2024
Source: Organisation for Economic Co-operation and Development. Measured in Percentage of GDP.
Analysis
Iceland recorded 1.04 Percentage of GDP for r&d tax expenditure and direct government funding of berd in 2024.
That represents a change of down 4.1% on the previous year and up 45.8% over ten years.
Over the whole period, r&d tax expenditure and direct government funding of berd in Iceland peaked at 1.15 Percentage of GDP in 2021 and was at its lowest, 0.7134 Percentage of GDP, in 2014.
That places Iceland 2nd out of 33 countries with data for 2024, putting it in the top 10%.
The long-run direction has been consistently rising across the 25 years of available data.
R&D tax expenditure and direct government funding of BERD in Iceland, year by year
| Year | Percentage of GDP | Change |
|---|---|---|
| 2000 | 0.8936 Percentage of GDP | — |
| 2001 | 0.8994 Percentage of GDP | +0.6% |
| 2002 | 0.9555 Percentage of GDP | +6.2% |
| 2003 | 1.03 Percentage of GDP | +7.6% |
| 2004 | 0.8393 Percentage of GDP | -18.4% |
| 2005 | 0.8345 Percentage of GDP | -0.6% |
| 2006 | 0.8152 Percentage of GDP | -2.3% |
| 2007 | 0.7951 Percentage of GDP | -2.5% |
| 2008 | 0.8532 Percentage of GDP | +7.3% |
| 2009 | 0.9982 Percentage of GDP | +17.0% |
| 2010 | 0.9312 Percentage of GDP | -6.7% |
| 2011 | 0.9277 Percentage of GDP | -0.4% |
| 2012 | 0.9579 Percentage of GDP | +3.3% |
| 2013 | 0.7322 Percentage of GDP | -23.6% |
| 2014 | 0.7134 Percentage of GDP | -2.6% |
| 2015 | 0.7325 Percentage of GDP | +2.7% |
| 2016 | 0.8023 Percentage of GDP | +9.5% |
| 2017 | 0.8099 Percentage of GDP | +0.9% |
| 2018 | 0.8401 Percentage of GDP | +3.7% |
| 2019 | 0.8194 Percentage of GDP | -2.5% |
| 2020 | 1.01 Percentage of GDP | +23.7% |
| 2021 | 1.15 Percentage of GDP | +13.5% |
| 2022 | 1.06 Percentage of GDP | -7.7% |
| 2023 | 1.08 Percentage of GDP | +2.3% |
| 2024 | 1.04 Percentage of GDP | -4.1% |
Iceland compared with similar countries
- Iceland's 1.04 Percentage of GDP is above the median for high income countries, which is 0.5515 Percentage of GDP, 1.9× the median. (29 countries reporting)
- Iceland's 1.04 Percentage of GDP is above the median for Europe & Central Asia, which is 0.6082 Percentage of GDP, 1.7× the median. (22 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 0.8912 Percentage of GDP | 0.7951 Percentage of GDP | 1.03 Percentage of GDP | 10 |
| 2010s | 0.8267 Percentage of GDP | 0.7134 Percentage of GDP | 0.9579 Percentage of GDP | 10 |
| 2020s | 1.07 Percentage of GDP | 1.01 Percentage of GDP | 1.15 Percentage of GDP | 5 |
Countries ranked near Iceland
- 1 Japan 1.37 Percentage of GDP compare
- 2 Slovenia 0.8144 Percentage of GDP compare
- 3 Estonia 0.7972 Percentage of GDP compare
- 3 Germany 1.04 Percentage of GDP compare
- 4 Netherlands 0.7958 Percentage of GDP compare
- 4 Finland 0.9054 Percentage of GDP compare
- 5 Switzerland 0.9044 Percentage of GDP compare
- 5 United States 0.6804 Percentage of GDP compare
More economy & growth data for Iceland
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.48 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps -851.71 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0221 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -2,170 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -201.70 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -107.12 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0052 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita -514.02 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is r&d tax expenditure and direct government funding of berd in Iceland?
- R&d tax expenditure and direct government funding of berd in Iceland was 1.04 Percentage of GDP in 2024, according to Organisation for Economic Co-operation and Development.
- What is the highest r&d tax expenditure and direct government funding of berd recorded in Iceland?
- The highest recorded value was 1.15 Percentage of GDP in 2021.
- What is the lowest r&d tax expenditure and direct government funding of berd recorded in Iceland?
- The lowest recorded value was 0.7134 Percentage of GDP in 2014.
- How does Iceland rank for r&d tax expenditure and direct government funding of berd?
- Iceland ranks 2nd out of 33 countries with data for 2024.
- Is r&d tax expenditure and direct government funding of berd rising or falling in Iceland?
- Over the last ten years it is up 45.8%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of R&D tax expenditure and direct government funding of BERD — Government budget allocations for R&D (GBARD). Statizoid updates them automatically from the source API.
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About this data
The OECD R&D Tax Incentives database provides a set of indicators that reflect the level and structure of central and subnational government support for business R&D in form of R&D tax incentives and direct funding across OECD member countries and other major economies. This includes time-series indicators of tax expenditures for R&D, based on the latest OECD data collection on tax incentive support for R&D expenditures. Estimates of the cost of R&D tax support at subnational government level are reported whenever such provisions are applicable and relevant data are available. These estimates of the cost of central and subnational R&D tax relief have been combined with data on direct government funding of business expenditure on R&D (BERD), as compiled by National Statistical Offices based on reports from firms, in order to provide a more complete picture of government efforts to promote business R&D. Furthermore, these estimates are combined with data on Government budget allocations for R&D (GBARD) in the broader context of overall budgetary support for R&D activities undertaken by governments. Government budget allocations for R&D include direct funding provided to all sectors, including contributions to R&D programmes abroad. OECD (2019) provides a practical guide to using the OECD R&D Tax Incentives database, describing the R&D tax incentive time series data and highlighting their potential for internationally comparative work through descriptive indicators and econometric analysis.