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GM01001 Research and development costs as part of GDP by performance sector (2022)

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Kristina Arge Simonsen
6/19/2024
DKK 1,000 and % of GDP
Y
4/1/2025
6/19/2024
Yes
Statistics Faroe Islands: www.hagstova.fo/en
GM01001_RD_GDP
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Symbols:  -  Nil (exactly zero)
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 •  Not applicable
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 ••• Not disclosed, confidentiality/privacy protected Main figures
The measurement of gross domestic expenditure on R&D (GERD), which covers all expenditures for R&D performed in the economy during a specific reference period is the principal R&D indicator at country level. GERD, and the GERD/GDP ratio, are used for international comparisons. Nominal GDP
GDP measures the monetary value of the production of goods and services in a certain period of time. The production includes the use of materials, labor and capital equipment, and the product of these factors are goods and services.
Nominal GDP means that GDP is measured in the current market prices in a given period of time. Method
Research and experimental development statistics are made in accordance with standards of UN (Frasacti manual). This ensures that the figures are comparable with similar figures from other countries.
The data is collected with annual surveys. Research and development
A set of common features identifies R&D activities, even if these are carried out by different performers. R&D activities may be aimed at achieving either specific or general objectives. R&D is always aimed at new findings, based on original concepts (and their interpretation) or hypotheses. It is largely uncertain about its final outcome (or at least about the quantity of time and resources needed to achieve it), it is planned for and budgeted (even when carried out by individuals), and it is aimed at producing results that could be either freely transferred or traded in a marketplace. For an activity to be an R&D activity, it must satisfy five core criteria.
The activity must be:
• novel
• creative
• uncertain
• systematic
• transferable and/or reproducible
Source: Frascati manual 2025, OECD 2015

Performance sector

For the general presentation of R&D statistics, the domestic economy is made up of the entire set of institutional units resident in the economy; these are grouped into four mutually exclusive institutional sectors, namely, Business enterprise, Higher education, Government and Private non-profit, in addition to the Rest of the world sector, in order to capture, for completeness, the relationship with non-resident units. The underlying criterion for grouping institutional units into sectors is the homogeneity of the units in respect of economic objectives, principal functions and behaviour.
The classification of institutional units for R&D purposes aims to ensure full consistency with the definition of R&D and with the explicit needs of established R&D statistics users, as well as with the classification criteria used by the System of National Accounts (SNA).
Five main sectors have been identified for the measurement of R&D:
1. Business enterprise
2. Government
3. Higher education
4. Private non-profit
5. Rest of the world
Source: Frascati manual 2015 (OECD 2015)