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Entry: System, numeric

F/M: No

Mnemonic: MLSIC2

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This field displays the North American Industrial Code Standards (NAICS) number.

 

The NAICS is an industry classification system that covers the entire field of economic activities; producing and non-producing. It was developed by the USA, Mexico, and Canada in connection with the North American Free Trade Agreement (NAFTA) to provide standard industry definitions to be used for analyses of the economies of the three North American countries.

 

Data collected for businesses are reported to various governmental agencies, trade associations, private research organizations, and others who gather and publish economic information. The data is used to produce statistical information on industrial performance, inputs and outputs, productivity, unit labor costs, and employment. Use of NAICS codes provide uniformity and comparability in the presentation of statistical data describing the economy.

 

NAICS codes are assigned to each establishment of an enterprise based on the primary activity of that establishment. When a company applies for an Employer Identification Number (EIN), the information about the type of activity in which that business is engaged is requested in order to assign an NAICS code. In addition, statistical agencies such as the Census Bureau and the Bureau of Labor Statistics assign NAICS codes based on information reported to them. NAICS is a replacement for the Standard Industrial Classification (SIC) codes. It began to be used by various governmental agencies beginning in 1997 and took several years to be fully implemented.

 

Structure of NAICS

NAICS classifies all economic activities into 20 sectors. The first two digits of the NAICS structure (shown in the table below) designate the NAICS sectors that represent general categories of economic activities. The third digit designates the subsector, and the fourth digit designates the NAICS industry.

 

The NAICS sectors, subsectors, and industry codes are as follows: