International standard industrial classification of all economic activities
The International Standard Industrial Classification of All Economic Activities (ISIC) is a statistical standard used to classify economic activities by providing a framework for the collection, presentation, and analysis of data relating to various sectors of the economy. It is developed and maintained by the United Nations Statistics Division.
The ISIC is structured into a hierarchical classification system, with four levels of classification:
1. Sections: There are 21 sections, each representing a broad category of economic activities, such as agriculture, manufacturing, and construction.
2. Divisions: Each section is further divided into several divisions, which represent more specific groups of economic activities. For example, the manufacturing section is divided into divisions such as food products, textiles, and machinery.
3. Groups: Divisions are further divided into groups, which represent narrower categories of economic activities. For instance, within the food products division, there are groups for the production of meat, dairy products, and beverages.
4. Classes: Groups are divided into classes, which represent the most specific categories of economic activities. For example, within the meat production group, there are classes for the production of red meat, poultry, and processed meat products.
The ISIC provides a standardized coding system for each level of classification, allowing for consistent data collection and comparison across countries and over time. It is widely used by national statistical agencies, international organizations, and researchers to analyze economic trends, monitor industrial structure, and facilitate international trade and investment analysis.
The international standard industrial classification of all economic activities is called ISIC, which stands for the International Standard Industrial Classification of All Economic Activities. It is developed and maintained by the United Nations Statistics Division to provide a framework for classifying economic activities at a global level.
ISIC categorizes economic activities into different sectors, sub-sectors, and industries based on the type of economic activity being performed. It is used by various organizations, governments, and statistical agencies to collect and analyze data on economic activities.
The current version of ISIC is known as ISIC Rev. 4, which was adopted in 2008. It consists of 21 sections, each representing a broad sector of economic activity, which are further divided into more specific divisions, groups, and classes.
Here is an overview of the sections in ISIC Rev. 4:
1. Agriculture, forestry, and fishing
2. Mining and quarrying
3. Manufacturing
4. Electricity, gas, steam, and air conditioning supply
5. Water supply, sewerage, waste management, and remediation activities
6. Construction
7. Wholesale and retail trade; repair of motor vehicles and motorcycles
8. Transportation and storage
9. Accommodation and food service activities
10. Information and communication
11. Financial and insurance activities
12. Real estate activities
13. Professional, scientific, and technical activities
14. Administrative and support service activities
15. Public administration and defense; compulsory social security
16. Education
17. Human health and social work activities
18. Arts, entertainment, and recreation
19. Other service activities
20. Activities of households as employers; undifferentiated goods- and services-producing activities of households for own use
21. Activities of extraterritorial organizations and bodies
Each section is further divided into more specific divisions, groups, and classes that provide more detailed classifications of economic activities.
It is important to note that ISIC is periodically revised to adapt to changes in the global economy. The latest revised version, ISIC Rev. 4, is currently the most widely used classification system for economic activities worldwide.