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North American Industry Classification System

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Definition Edit

The North American Industry Classification System (NAICS) is an industry classification system used by statistical agencies to facilitate the collection, tabulation, presentation, and analysis of data relating to establishments. NAICS is erected on a production-oriented conceptual framework that groups establishments into industries according to similarity in the process used to produce goods or services.

Under NAICS, an establishment is classified to one industry based on its primary activity. NAICS was developed jointly by U.S. Economic Classification Policy Committee (ECPC), Statistics Canada, and Mexico's Instituto Nacional de Estadistica y Geografia to provide comparability in economic statistics. It replaced the Standard Industrial Classification (SIC) system in 1997.[1]

References Edit

  1. U.S. Census Bureau, Glossary (full-text).

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