The Harmonized System is an international nomenclature for the classification of products. It allows participating countries to classify traded goods on a common basis for customs purposes. At the international level, the Harmonized System (HS) for classifying goods is a six-digit code system. Show Harmonized Commodity Description and Coding Systems (HS)The HS comprises approximately 5,300 article/product descriptions that appear as headings and subheadings, arranged in chapters and grouped in sections. The six digits can be broken down into three parts. The first two digits (HS-2) identify the chapter the goods are classified. The next two digits (HS-4) identify groupings within that chapter and the next two digits (HS-6) are even more specific, up to the HS-6 digit level. All countries classify products in the same way (a few exceptions exist where some countries apply old versions of the HS). Harmonized Tariff Schedule of the United States Annotated (HTSA)The USITC (Office of Tariff Affairs and Trade Agreements) is responsible for publishing the Harmonized Tariff Schedule of the United States Annotated (HTSA). The HTSA provides the applicable tariff rates and statistical categories for all merchandise imported into the United States; it is based on the international Harmonized System, the global system of nomenclature that is used to describe most world trade in goods. Statistical classification of economic activities in the European Community, abbreviated (NACE)NACE, is the classification of economic activities in the European Union (EU); the term NACE is derived from the French Nomenclature statistique des activités économiques dans la Communauté européenne. It is a four-digit classification providing the framework for collecting and presenting a large range of statistical data according to economic activity in the fields of economic statistics. NACE Rev. 2, a revised classification, was adopted at the end of 2006 and, in 2007, its implementation began. The first reference year for NACE Rev. 2 compatible statistics is 2008, after which NACE Rev. 2 will be consistently applied to all relevant statistical domains. Various NACE versions have been developed since 1970:
GICS Consultation Paper - 2015 Effective until April 28, 2006 Effective until August 29, 2008 Effective until June 30, 2010 Effective until February 28, 2014 Effective until August 31, 2016 Effective until Sep 28, 2018
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What is global classification system?
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