Glossary

Deutsch: Internationale Standard Industrieklassifikation / Español: Clasificación Industrial Internacional Estándar / Português: Classificação Industrial Padrão Internacional / Français: Classification internationale type par branches d'activité économique / Italiano: Classificazione internazionale tipo delle attività economiche /

The International Standard Industrial Classification system of All Economic Activities (ISIC) is maintained by the United Nations (UN).

The structure of the ISIC is:

• 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 defence; 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

Description

The International Standard Industrial Classification (ISIC) is a system used to categorize economic activities at a global level. It provides a standard framework for the collection, analysis, and presentation of industrial statistics. The ISIC is maintained by the United Nations Statistics Division and is regularly updated to reflect changes in the structure of the global economy. It classifies industries based on their primary output and distinguishes between different sectors such as agriculture, manufacturing, and services. The ISIC is used by governments, businesses, and international organizations to facilitate comparisons of economic data across different countries and regions. It plays a crucial role in understanding the composition and evolution of the world's industrial landscape.

Application Areas

• Economic research and analysis
• Policy-making and decision-making
• Trade and investment analysis
• Market research and segmentation
• Industrial benchmarking

Treatment and Risks

• High complexity in classification
• Potential for misinterpretation of data
• Risk of inconsistency in reporting
• Difficulty in adapting to rapidly changing industries

Examples

• Manufacturing of automobiles (ISIC code 2910)
• Retail sale of clothing (ISIC code 4771)
• Computer programming activities (ISIC code 6201)

Similar Concepts and Synonyms

• NAICS (North American Industry Classification System)
• GICS (Global Industry Classification Standard)
• SIC (Standard Industrial Classification)

Summary

The International Standard Industrial Classification (ISIC) is a globally recognized system for categorizing economic activities. It serves as a vital tool for collecting and analyzing industrial data across different countries and regions. The ISIC facilitates economic research, policy-making, and trade analysis by providing a standardized framework for classifying industries. Despite its complexity and potential risks, the ISIC plays a crucial role in understanding the structure and dynamics of the global industrial landscape.

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