Standard Industrial Classification

SIC (Standard Industrial Classification) and International Trade Economy

In relation to international trade economy, Christopher Mark (1993) provided the following definition of SIC (Standard Industrial Classification): The basic system used by the US Commerce Department to categorize similar economic activities as distinct industries. Based on the SIC, the Census Bureau has organized a system of seven-digit industry codes, each successive digit of which reflect a progressively narrower degree of classification. Twenty two-digit groups (SIC numbers 20 through 39) constitute the manufacturing sector. Analyses of US production and national accounts usually involve SIC-based data; a rearrangement of US import and export data into an approximation of the SIC format has been developed by the Census Bureau (see TSUSA).

Standard Industrial Classification and International Trade Economy

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SIC