Industry Information: Other Classification Codes

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International Industry Classification Systems

Just as the US uses NAICS / SIC to organize their production statistics (and as Canada and Mexico also use NAICS; they are the other two NAFTA countries), some other countries and regions have their own industry classification systems. In addition, there are international classification codes used by countries belonging to the big NGO's such as the International Monetary Fund, the World Bank, and the United Nations.

ISIC, Revision 4
International Standard Industrial Classification of All Economic Activities; from the United Nations.
Click on the Language links for full document.
NACE, Revision 2
(Nomenclature des activités commerciales et économiques). This is the code for the European Union.
It is also available in print in NACE Rev.1: Statistical classification of economic activities in the European Community, Raynor Ref HD 2844 .N33 1996.

International Trade Classification Systems

Where industry classification codes are used to track production, commodity classification codes are used to track trade between countries. Here are some of the more commonly seen codes:

HS Nomenclature 2007 and 2002 Editions (Harmonized System)
The Harmonized System was created and is maintained by the World Customs Organization. Developed in 1985, it has six-digit codes. Six digits are insufficient for many countries to describe their trade, but the HS provides a classification backbone which individual countries can extend to meet their needs. For example, the US has expanded the HS to ten-digits in its HTS.
NOTE: there is a newer HS edition, from 2012, but it requires a subscription.
SITC, Revision 4
Standard Industrial Trade Classification, from the United Nations. Created in 1950, it is a five-digit code with 10 major categories. It is used in such standard reference sources as Industrial Commodity Yearbook, etc. Click on the Language links for the full documents.

US Trade (Commodity) Classification Systems

Below are the two systems that are used in the US for imports (HTS) and exports (Schedule B) respectively. By the way, the full title for Schedule B is 'Schedule B: Statistical Classification of Domestic and Foreign Commodities Exported from the United States'.

HTS (from the USITC)
Harmonized Tariff Schedule of the USA. Maintained by the US International Trade Commission. Used for imports into the US. It starts with the 6-digit Harmonized System, and in places extends that to 10-digits.
Schedule B -- Browse (2012, 2013, and 2014 editions)
Use this page if you want to see the organization and structure of the system.
Schedule B Search Engine
A keyword search engine ...

Product Classification Systems

Product classification systems, or product taxonomies, are a relatively new phenomenon. They hope to reflect the activities of industries, countries, trade, prices and more. The EEC has a useful and concise definition for product classification:

Product classifications are designed to categorize products that have common characteristics. They provide the basis for collecting and calculating statistics on the production, distributive trade, consumption, international trade and transport of such products.

Original found here.

NAPCS (North American Product Classification System)
Market- or demand-based, hierarchical classification system for products (goods and services). Used by the US, Canada and Mexico, and linked to the NAICS structure.
CPA (Classification of Products by Activity)
Used in the European Economic Union.
CPC (Central Product Classifcation, from the UN)
Classification structure for products (goods and services) based on a set of internationally agreed concepts, definitions, principles and classification rules.
Website includes correspondence tables!
UNSPSC (United Nations Standard Products and Services Code)
This webpage allows searching/browsing, but there is little information available without a subscription! Non-subscribers can download the code in a PDF file for free.

About product classification:

Classifications: How To Distinguish Between Products
From Intrepidsourcing.com

Investing Industry Classification Systems

Although you are less likely to see or need these ...

In recent years, the investment communities have also devised a couple of industry classification systems! They are designed to serve the needs of the investors and traders, and as such, are rather different ... The systems below all claim to allow for better company and industry comparisons across national boundaries.

FactSet Revere Business Industry Classification System
This system classifies "products and services instead of companies ... where industry groups accurately represent the competitive marketplace." Its purpose is to reflect the supply chain above all. More about their methodology.
GICS (Global Industry Classification Standard)
Created jointly by Standard & Poor's and MSCI Barra in 1999. Here you'll find information about the classification's structure, methodology, definitions, and more.
ICB (Industry Classification Benchmark) from Russell
This system was created by the Dow Jones Indexes and the FTSE; now owned by Russell. It has 10 industries; 19 supersectors; 41 sectors; 114 subsectors.
TRBC (Thomson Reuters Business Classification)
Used in the LSEG Workspace and Eikon interfaces.
Rebranding is underway and it will eventually become The Refinitiv Business Classification system.