Fast-Growing Thai Industry Codes Stay Small-Business Heavy, 2026
In short
Micro and small companies make up 96.4 percent of entities across Thailand's ten fastest-growing five-digit industry codes from 2015 to 2025, as of 14 August 2026. That sits close to the national micro-plus-small share of 97.3 percent. The fastest code, TSIC 63113 in information and communication, grew revenue 32.4 times over. Even the tenth-fastest, TSIC 47732 in wholesale and retail trade, grew 11.0 times, far outpacing Thailand's 65.6 percent decade-long revenue gain. Growth here looks broad-based, not built by a handful of giants.
Do Thailand's fastest-growing industry codes skew small or large?
They skew small, but not by quite as much as the average industry code does. Across the ten five-digit TSIC codes with the steepest revenue growth from 2015 to 2025, micro and small companies account for 96.4 percent of all entities (DBD, 2026). That sits close to, though a touch below, the national micro-plus-small share of 97.3 percent. Look inside the number and a sharper pattern shows up. Fast-growth codes carry fewer micro firms than the typical Thai industry, 63.5 percent against a national 75.1 percent. They make up the gap with small companies, 32.9 percent against a national 22.2 percent. Large companies hold a 1.35 percent share of these codes, nearly double the national 0.7 percent. The headline code, TSIC 63113 in the information and communication section, grew revenue 32.4 times over between 2015 and 2025. The tenth-ranked code, TSIC 47732 in wholesale and retail trade, still posted an 11.0 times increase. Thailand's overall filed revenue grew 65.6 percent over the same decade, so even the slowest of these ten codes ran more than fifteen times the national pace.
Revenue growth multiple, 2015 versus 2025, by TSIC code
- 63113 (Info and comm)32
- 64991 (Financial)28
- 47895 (Wholesale and retail)27
- 64922 (Financial)20
- 53200 (Transport)18
- 46104 (Wholesale and retail)16
- 87301 (Human health)15
- 10769 (Manufacturing)14
- 46621 (Wholesale and retail)12
- 47732 (Wholesale and retail)11
Figures in times higher, 2025 revenue over 2015 revenue.
All ten codes cleared 100 million baht of 2015 revenue and at least 20 filed companies in both years, so the ranking is not driven by a handful of thin shell filings.
The ten fastest-growing five-digit TSIC codes, 2015 to 2025
| TSIC code | Section | Revenue 2015 (million baht) | Revenue 2025 (million baht) | Growth multiple | Micro plus small share |
|---|---|---|---|---|---|
| 63113 | Information and communication | 3,579.2 | 115,972.4 | 32.40x | 98.7% |
| 64991 | Financial and insurance | 928.2 | 26,424.1 | 28.47x | 94.1% |
| 47895 | Wholesale and retail trade | 212.0 | 5,672.9 | 26.76x | 98.2% |
| 64922 | Financial and insurance | 792.4 | 15,461.9 | 19.51x | 96.0% |
| 53200 | Transportation and storage | 6,658.6 | 118,631.9 | 17.82x | 98.0% |
| 46104 | Wholesale and retail trade | 8,294.6 | 136,816.0 | 16.49x | 97.4% |
| 87301 | Human health and social work | 113.4 | 1,726.7 | 15.23x | 100.0% |
| 10769 | Manufacturing | 320.2 | 4,492.1 | 14.03x | 98.5% |
| 46621 | Wholesale and retail trade | 304,982.2 | 3,525,379.9 | 11.56x | 95.9% |
| 47732 | Wholesale and retail trade | 802,738.0 | 8,848,365.4 | 11.02x | 95.5% |
Revenue growth multiple and current size mix by code, as of 14 Aug 2026. Section names follow the fixed 21 ISIC letters, since five-digit descriptions are not published in the registry extract.
Size mix: fast-growth codes versus the whole economy
| Size band | Fast-growth codes (pooled) | Thailand, all industries |
|---|---|---|
| Micro | 63.5% | 75.1% |
| Small | 32.9% | 22.2% |
| Medium | 2.3% | 2.0% |
| Large | 1.3% | 0.7% |
Pooled entity counts across the ten fastest-growing codes, compared against the national size-band split, as of 14 Aug 2026.
Why this matters
Fast revenue growth in Thailand is not a story about a few conglomerates pulling an industry code upward. It is a story of thousands of small filers moving together. Four of the ten fastest-growing codes sit in wholesale and retail trade and two more sit in financial services, so the growth is also concentrated by section, not evenly spread across the economy. What stands out is the mild but real shift away from the micro tier. A fast-growth code has proportionally more small, medium and large companies than a typical Thai industry, which points to firms scaling past the smallest band rather than a wave of brand-new micro shells. The World Bank's most recent monitor on Thailand made a related point about the broader economy, arguing that unlocking SME and startup growth is central to lifting national productivity beyond the low-growth path of the past decade (World Bank, 2025). The registry numbers here suggest that where growth is actually happening, it is already reaching deep into the small-company population rather than waiting on a policy push.
Definitions
- TSIC code
- Thailand's five-digit industry classification code, aligned to the international ISIC system, assigned to each registered company.
- Statement year 2558 and 2568
- The Buddhist calendar years used in the registry's filed financial statements. Statement year 2558 corresponds to 2015 in the Gregorian calendar and 2568 corresponds to 2025.
- Revenue growth multiple
- Total filed revenue for a code in 2025 divided by total filed revenue for the same code in 2015. A multiple of 2.0x means revenue doubled.
- Micro, small, medium, large
- Size bands carried in the DBD registry classification, reflecting each company's reported revenue and employment. Micro is the smallest band and large is the biggest.
- Filed company
- A company that submitted a financial statement for a given statement year. Not every registered company files every year.
Assumptions
- The revenue and company-count floor of 100 million baht and 20 filed companies in both years is a deliberate cutoff to exclude codes whose growth is an artifact of a tiny base, not a claim that no smaller code grew faster.
- Size-band counts come from a table refreshed on 17 July 2026, about four weeks before the 14 August 2026 revenue refresh used for growth, so the two are joined by TSIC code rather than drawn from a single identical snapshot.
- Growth multiples compare two single statement years, 2015 and 2025, and do not describe the path between them, so a code could have grown unevenly or dipped in the middle years.
- Five-digit TSIC descriptions are not published in this registry extract, so codes are identified by number and by their parent industry section only.
Methodology
Revenue growth is measured for each five-digit TSIC code as total filed revenue in statement year 2568, which is 2025 in the Gregorian calendar, over statement year 2558, which is 2015, drawn from market_tsic_year_insight in the DBD-sourced registry, refreshed 14 August 2026. To keep the ranking from being driven by tiny or newly formed codes, only codes with at least 100 million baht of 2015 revenue and at least 20 filed companies in both years were ranked. The size-band counts, micro, small, medium and large, come from market_tsic_insight, a companion table refreshed 17 July 2026, joined on the TSIC code. Size bands reflect the classification carried in the registry rather than a headcount or turnover threshold applied here. National revenue growth and the national size-band split are the whole-economy anchors from market_national_insight and market_year_insight over the same 2015 to 2025 window.
How we verified this
- Top code growth multiple recomputed as 115,972,359,673.90 divided by 3,579,195,060.17 equals 32.40, matching the reported 63113 figure.
- Pooled micro-plus-small share recomputed as 16,279 plus 8,424, divided by 25,629, equals 96.39 percent, matching the reported 96.4 percent across the ten codes.
- National micro-plus-small share recomputed as 1,492,979 plus 440,928, divided by 1,986,709, equals 97.34 percent, confirming the 97.3 percent baseline and that fast-growth codes sit slightly below it.
- Pooled large-company share recomputed as 346 divided by 25,629 equals 1.35 percent, versus the national large-company share of 13,876 divided by 1,986,709 equals 0.70 percent.
- National revenue growth recomputed as 67,949,733,020,120.65 minus 41,037,398,747,671.09, divided by 41,037,398,747,671.09, equals 65.59 percent, matching the reported 65.6 percent.
- Tenth-ranked code multiple of 11.02 divided by the national growth ratio of 0.6559 equals 16.8, confirming the tenth-fastest code still grew more than fifteen times the national pace.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- World Bank. (2025). Thailand economic monitor, February 2025: Unleashing growth, innovation, SMEs and startups. World Bank Group. https://www.worldbank.org/en/country/thailand/publication/thailand-economic-monitor-february-2025-unleashing-growth-innovation-smes-and-startups
Frequently asked questions
Are Thailand's fastest-growing industries dominated by large companies?
No. Micro and small companies make up 96.4 percent of entities across the ten fastest-growing five-digit industry codes from 2015 to 2025, close to the national micro-plus-small share of 97.3 percent.
Which five-digit TSIC code grew revenue the fastest from 2015 to 2025?
TSIC 63113, in the information and communication section, grew revenue 32.4 times over, from about 3.58 billion baht in 2015 to about 115.97 billion baht in 2025.
Do fast-growing industries have more large companies than the national average?
Slightly. Large companies hold a 1.35 percent share of entities in the ten fastest-growing codes, versus 0.7 percent nationally, though small firms still dominate both groups.
Which industry sections show up most among the fastest-growing codes?
Wholesale and retail trade supplies four of the ten fastest-growing codes and financial and insurance supplies two, so growth here is concentrated by section as well as broad-based by company size.
Cite this page
Chatpong L. (2026). Fast-Growing Thai Industry Codes Stay Small-Business Heavy, 2026. Max Data Insights. https://maxdatathailand.com/insights/do-fast-growing-thai-industry-codes-skew-small-or-large-2026
Data & corrections
Download the data (CSV)Spot something off, or want to ask about the data? Email insights@maxsolutions.co.th. We publish corrections.
Written by
Chatpong L.Founder, Max Data, Max Solutions Co., Ltd.
Chatpong L. leads Max Data, a company-intelligence platform built on Thailand's official business registry. He writes about the structure of the Thai economy using primary registry data. His work covers company formation, industry concentration, and regional business activity.
Related insights
This page reports company-level and aggregate statistics only. It names no individuals and makes no claims about any person. Figures are provided for information and may be revised as source data updates.