How to Find Industry Information
Industry classification codes frequently appear in business information sources. Whenever business activities or organizations are counted, sorted, listed or compared, the Standard Industrial Classification or the NAICS are likely to be used. They are particularly useful for retrieving information from online databases.
This code was used exclusively up until April 9, 1997, when the Office of Management and Budget (OMB) announced its decision to adopt the North American Industry Classification System (NAICS pronounced Nakes) as the industry classification system used by the statistical agencies of the United States. NAICS replaces the 1987 Standard Industrial Classification (SIC).
NAICS is a unique, all-new system for classifying business establishments. NAICS recognizes the changing and growing services-based economy of the United States and its North American neighbors. NAICS is forward looking and flexible, and can provide comparability among the NAFTA trading partners while recognizing important national industries and providing for periodic updates through three country review.
The site also features a link to the site that features correspondence tables between SIC codes and NAICS.
|Watch this brief video to see how to find specific industry data that includes statistics such as:
- numbers of imports and exports
- number of businesses in an industry or industrial subsector
- gross revenues
- rate at which an industry is expanding or contracting