The International Standard Industrial Classification (ISIC) is a globally recognized framework that categorizes economic activities in order to facilitate the analysis and comparison of different industries and countries. Developed and maintained by the United Nations Statistical Division (UNSD), ISIC provides a comprehensive and standardized system for classifying economic activities at various levels of detail.
ISIC is widely used by governments, international organizations, researchers, and businesses to classify economic data, such as national accounts, industrial production, employment statistics, and trade data. The classification system is based on a hierarchical structure, with four levels of detail that progressively narrow down the scope of economic activities.
At the highest level, ISIC divides all economic activities into sectors, such as agriculture, manufacturing, and services. Each sector is further divided into divisions, which represent broad groups of related activities. Divisions are then subdivided into groups, which provide a more detailed level of classification. Finally, groups are further broken down into classes, which represent specific economic activities.
By using ISIC, countries can ensure the comparability and consistency of their economic data with other nations, thus enabling international comparisons and analysis. The classification system also serves as a fundamental tool for economic research, policy-making, and planning across different sectors and regions.
