The North American Industry Classification System (NAICS) provides common industry definitions for Canada, Mexico, and the United States. And allows for better comparison of economic and financial statistics and ensures that such statistics keep pace with the changing economy. NAICS is a joint development of the U.S. Census Department, the US Economic Classification Policy Committee, Statistics Canada, and Mexico’s Instituto Nacional de Estadistica, Geografia e Informatica. The NAICS system replaces the countries’ separate classification systems with one uniform system for classifying industries. In the United States, NAICS replaces the Standard Industrial Classification (SIC) system.