NAICS North American Industry Classification System
Industry Research Desk
North American Industry Classification System
A new classification system, North American Industry Classification System (NAICS), is replacing the old Standard Industry Classification (SIC) system. This new system will update the classifications to include many categories that did not exist in the past. It also allows one system to cover goods as they move through NAFTA.
Researchers familiar with using the old SIC codes will have to use the new codes and industries relying on SIC series trade data (production, shipment, import, export data for each month) for forecasting and other purposes may be in for some surprises as the systems blend together and the new classification emerges.
We are listing some articles and web sites with extensive information on the new NAICS system.
OnLine NAICS Resources
The 2 December 1996 issue of Industry Week has an article titled, "No NIX on NAICS", on pages 47-48.
- It explains the proper pronunciation of NAICS as "nakes"
- They explain the new structure to be much more logical and categorizes similar things closer together. Many of the "not elsewhere used" categories have been broken into several new categories. The switch also ensures the proper classification of some industries like warehousing and logistics. The relatively new areas of computers, televisions, software, and information are updated or included for the first time.
- They suggest you maintain your business prospects lists in both the SIC and the NAICS classifications for the short term.
- The article points out the system will be able to track goods through the NAFTA area.
- The new codes will be 6 digit numbers instead of the old 4 digit SIC codes.
- Approval for the new codes is expected by January 1, 1997
NAICS North American Industry Classification System United States 1997 is a 1200 page book full of the new codes and
cross references to the old SIC codes. It is available in our bookstore.