Industry Trends and Analysis


Biologists classify living things in an ever-more-precise system of groups so that these organisms are easier to study. This classification system starts with domains and kingdoms and narrows down to specific genus and species. This system of classification is recognized and used by biologists around the world.

Likewise, countries classify products by a standardized series of numbers to assess duties and taxes on goods that are imported into their countries and to collect importing and exporting statistics. This classification system starts with the six-digit Harmonized System (HS) codes that are used by almost every country when classifying products and then narrows to longer and more specific classification codes that may be unique to each country.