A code that classifies goods and services. This code can be in the format of
any one of the following systems of classification:
o Standard Industrial Classification (SIC) or North American Industry Classification
System (NAICS). A numerical system used in the United States to classify goods
and services. This code is four (SIC) or six (NAICS) digits.
o Harmonized System (HS). The international method of classifying goods.
More than fifty countries use this code. It can be up to 10 digits.
o Standard Industrial Trade Classification (SITC). A numerical code
system developed by the United Nations to classify goods used in
international trade. International organizations use this code. It can
be up to six digits.