The North American Industry Classification System (NAICS) has officially replaced the U.S. Standard Industrial Classification (SIC) system. The NAICS provides a consistent system for economic analysis across the three North American Free Trade Agreement partners – Canada, Mexico and the United States.
The 2007 edition includes all of the Economic Classification Policy Committee recommendations for revision (presented in a March 11, 2005 Federal Register notice FR 70 12390-12399), with the exception of treatment of real estate investment trusts.
NAICS provides a consistent framework for the collection, analysis and dissemination of industrial statistics used by:
- government policy analysts
- academics and researchers
- business community
- public.
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