SICNAICS

SICNAICS stands for Standard Industrial Classification of North American Industry Classification System. It is a system used in Canada, Mexico, and the United States for classifying business establishments and the industries in which they operate. SICNAICS is a hierarchical system that categorizes businesses based on their primary economic activity. The system is maintained by Statistics Canada, the U.S. Office of Management and Budget, and the Instituto Nacional de Estadística y Geografía in Mexico.

The SICNAICS structure is organized into sectors, subsectors, industry groups, and industries. Each business establishment is assigned a six-digit code that reflects its specific type of economic activity. For example, a restaurant might be classified under the Food Services and Drinking Places sector. The SICNAICS system is periodically updated to reflect changes in the economy and the emergence of new industries. It is used by government agencies for statistical purposes, by businesses for market research and analysis, and by researchers for economic studies. The adoption of SICNAICS has facilitated cross-border comparisons of economic data among the three North American countries.