<P> The Statistical Classification of Economic Activities in the European Community, commonly referred to as NACE (for the French term "nomenclature statistique des activités économiques dans la Communauté européenne"), is the industry standard classification system used in the European Union . The current version is revision 2 and was established by Regulation (EC) No 1893 / 2006 . It is the European implementation of the UN classification ISIC, revision 4 . </P> <P> There's a correspondence between NACE and United Nations' International Standard Industrial Classification of all Economic Activities . </P> <P> NACE is similar in function to the SIC and NAICS systems: </P> <Ul> <Li> Standard Industrial Classification </Li> <Li> North American Industry Classification System </Li> </Ul>

Statistical classification of economic activities in the european community