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The North American Industry Classification System or NAICS (/ n eɪ k s /) [1] is a classification of business establishments by type of economic activity (the process of production). It is used by governments and business in Canada , Mexico , and the United States of America .
Thus, the Standard Industrial Classification system was born. SIC codes are four-digit numerical representations of major businesses and industries. SIC codes are assigned based on common characteristics shared in the products, services, production and delivery system of a business.
The current version is revision 2 and was established by Regulation (EC) No 1893/2006. [1] It is the European implementation of the UN classification ISIC , revision 4. There is a correspondence between NACE and United Nations' International Standard Industrial Classification of all Economic Activities .
The site also has a download section, which provides for end user download of the entire codeset or modifications to the codeset since the last download by the user. The download file can be formatted as an Excel, tab-delimited or CSV file. In addition, the Code is available via printed format in the Alphabetical Index Book and the Class Item Book.
Industry classification or industry taxonomy is a type of economic taxonomy that classifies companies, organizations and traders into industrial groupings based on similar production processes, similar products, or similar behavior in financial markets.
The International Standard Industrial Classification of All Economic Activities (ISIC) is a United Nations industry classification system. Wide use has been made of ISIC in classifying data according to kind of economic activity in the fields of employment and health data.
For certain classes in the UK SIC 2007 taxonomy a further breakdown to a 5 digit level is available. They have been revised mostly to cater for the greater importance of service activities over the last fifteen years, due to developments in technology, such as information technology and information and communications technology .
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