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International Business: Industries

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Industry codes identify an industry or service a business provides:

  • NAICS (North American Industry Classification System) is the most common industry code and is used to find ratio information.
  • SIC (Standard Industrial Classification) is predominantly being replaced by NAICS. 

Frequently asked questions about the NAICS code.

maple leaf Canadian Statistics:
globe Global Statistics:

Industry ratios are an aggregate measure of industry performance.

Data is gathered from the financial statements of hundreds of firms to calculate industry averages.

The results are often broken into categories based on the asset size of the companies.

The ratios are then used as a benchmarking tool in comparing a company's performance to that of its industry.

Which database do I use?
Video Tutorial

Watch this video to learn more about selected sources for company and industry research (including IBISWorld, Mintel, Passport GMID, and MarketLine):

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