In the years 2016-2018, 56% 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.

Enterprises introducing new or improved products, i.e. goods or services, to the market were 29% of the whole, thereof 82% goods and 72% services. In the years 2014-2016, the same applied to 33% of enterprises, thereof 78% goods and 55% services. The decrease between periods is limited to innovation of goods, while there is an increase in innovation of services, though it should be kept in mind that the division of goods on the one hand and services on the other is 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 44% of the whole.

Enterprises were also considered innovative if they’d had work on innovation of goods or services that didn’t result in products being introduced to the market within the period, which applied to 40% of enterprises.

The innovation survey follows an international model, with results for the entire EU and the EEA coming out later this year. Of Iceland’s neighbouring countries, results have been published in Norway and Sweden, with 61% of enterprises being innovative in Norway and 55% in Sweden.