What is a NAICS code? SIC code?
Last updated on Nov 17, 2020 Industry
To browse or locate a specific code, use the 2017 NAICS Search from the U.S. Census.
A NAICS (pronounced NAKES) Code is a classification within the North American Industry Classification System. The NAICS System was developed for use by Federal Statistical Agencies for the collection, analysis and publication of statistical data related to the U.S. Economy.
It was adopted in 1997 to replace the Standard Industrial Classification (SIC) system in cooperation with the statistical agencies of Canada and Mexico. Their goal was to establish a North American standard. ~From the U.S. Census Bureau website.
NAICS codes are hierarchical -- the longer the number, the more detailed the industry. NAICS codes are up to six digits long.
Examples of NAICS codes:
51 Information
513 Broadcasting and telecommunications
5133 Telecommunications
51332 Wireless telecommunications carriers (except satellite)
513322 Cell phones and cell phone service
So what? NAICS make it easy to:
- Find competitors and customers;
- Find industry reports;
- Benchmark finances (ex. financial ratios and the Economic Census);
- Analyze trade data, employment trends, etc.