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Standard Industrial Classification


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(SIC)

The method of classifying types of economic activity used in UK official statistics. This is consistent with the International Standard Industrial Classification issued by the United Nations, and the Nomenclature des Activités établies dans les Communautés Européennes used by the European Union. The advantage of a similar classification of industries is that it facilitates international comparisons of the composition and the efficiency of industries.

Subjects: Economics — Marketing.


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