Standard Industrial Classification (SIC)

Definition - What does Standard Industrial Classification (SIC) mean?

Standard Industrial Classification (SIC) is a coding system in which each sector organization and industry is represented by a set of four digit codes. Each digit in a code has specific indications and progressively suggests broader industry classifications such as industry group, major group and division. For example, the first two digits of the SIC code represent the “major group” and the first three digits of SIC code represent the “industry group”.

Petropedia explains Standard Industrial Classification (SIC)

Standard Industrial Classification (SIC) coding system was established in the year 1937 in the United States to specify various industries under their respective categories. It is the international reference classification of productive activities. Its main purpose is to provide a set of activity categories that can be utilized for the collection and reporting of statistics according to such activities. SIC codes are assigned based on common characteristics shared in the products, services, production and delivery system of a business. Some of the ranges of SIC codes and lists of divisions falling under them are listed below:

Range of SIC Codes	Division
0100-0999	Agriculture, Forestry and Fishing
1000-1499	Mining
1500-1799	Construction
1800-1999	not used
2000-3999	Manufacturing
4000-4999	Transportation, Communications, Electric, Gas and Sanitary service
5000-5199	Wholesale Trade
5200-5999	Retail Trade
6000-6799	Finance, Insurance and Real Estate
7000-8999	Services
9100-9729	Public Administration
9900-9999	Nonclassifiable