NAICS is designed for the compilation of production statistics and, therefore, for the classification of data relating to establishments. At lower levels, it further distinguishes the different economic activities in which businesses are engaged. At the highest level, it divides the economy into 20 sectors. NAICS is a comprehensive system encompassing all economic activities.
They also include government institutions and agencies engaged in the production of marketed and non-marketed services, as well as organizations such as professional associations and unions and charitable or non-profit organizations and the employees of households. They include farms, incorporated and unincorporated businesses and government business enterprises. The economic transactors for which NAICS is designed are businesses and other organizations engaged in the production of goods and services. NAICS is based on supply-side or production-oriented principles, to ensure that industrial data, classified to NAICS, are suitable for the analysis of production-related issues such as industrial performance.Įconomic statistics describe the behaviour and activities of economic transactors and of the transactions that take place among them.
Created against the background of the North American Free Trade Agreement, it is designed to provide common definitions of the industrial structure of the three countries and a common statistical framework to facilitate the analysis of the three economies. The North American Industry Classification System (NAICS) is an industry classification system developed by the statistical agencies of Canada, Mexico and the United States. This standard was approved as a departmental standard on November 21, 2011. Relationship between NAICS and ISIC Revision 4.Determining the industry classification of an establishment.Use of the North American Product Classification System (NAPCS).You may also opt for large quantities at even better deals and resell at a profit.
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