NACE

NACE (Nomenclature of Economic Activities) is a standardized system used across Europe to categorize different types of businesses and their economic activities. It helps organize and analyze data about industries, such as manufacturing, services, or agriculture, by assigning unique codes to each activity. This classification facilitates statistical comparisons, policy-making, and economic reporting. Essentially, NACE provides a common language to identify what kind of work businesses do, ensuring consistency and clarity across countries and sectors.