The North American Industry Classification System (NAICS) is the standard system for classifying business establishments. Each establishment is assigned a code and category title, organizing them primarily by similar production processes. Codes are hierarchical: less detailed categories are derived by removing digits from the end of more detailed codes.
Example
The NAICS classification is updated every five years to better reflect economic realities. The most recent version is NAICS 2017 Version 3.0. Version 3.0 is a Canada-specific NAICS version that incorporates several new codes for cannabis industries.
Source: StatCan’s NAICS 2017 Version 3.0.
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