Fastest-Growing Thai Industry Codes by Company Count, 2015-2025
In short
TSIC 47912, an unnamed wholesale and retail trade code, grew 916 percent in filing companies between 2015 and 2025. The count rose from 641 to 6,513 over the decade. That is the fastest growth rate of any 5-digit Thai industry code with a meaningful starting base. Thailand's entire filing company base grew only 48.9 percent over the same decade. This code expanded more than eighteen times as fast as the average. Four of the ten fastest-growing codes sit inside wholesale and retail trade. The story here is entity count, not revenue, a different lens from the site's revenue growth ranking.
Which industry code grew fastest by company count?
TSIC 47912 answers the question outright (DBD, 2026). This five digit wholesale and retail trade code had 641 companies file a financial statement in 2015 and 6,513 in 2025. The code added 5,872 filers over the decade, a 916 percent increase. No other code with a meaningful starting base comes close. The runner up, TSIC 86202 in human health and social work, grew from 306 filers to 2,066. That is a 575 percent increase. Third place, TSIC 56302 in accommodation and food service, grew from 310 to 1,757. That is a 467 percent increase. Thailand's entire filing company base grew only 48.9 percent over the same decade. The base moved from 478,622 filers to 712,785. TSIC 47912 outpaced the whole economy by more than eighteen times.
Ten fastest-growing 5-digit industry codes by filing companies, 2015 to 2025
- TSIC 47912916
- TSIC 86202575
- TSIC 56302467
- TSIC 47525399
- TSIC 47732302
- TSIC 86201284
- TSIC 64929279
- TSIC 96101250
- TSIC 68201242
- TSIC 46104193
Figures in percent growth in filing companies.
Every code shown started with at least 300 filing companies in 2015, so the percentages are not artifacts of a tiny base.
The ten fastest-growing industry codes, ranked by growth rate
| TSIC code | Section | 2015 filers | 2025 filers | Companies added | Growth |
|---|---|---|---|---|---|
| 47912 | G, Wholesale and retail trade | 641 | 6,513 | 5,872 | 916.1% |
| 86202 | Q, Human health and social work | 306 | 2,066 | 1,760 | 575.2% |
| 56302 | I, Accommodation and food service | 310 | 1,757 | 1,447 | 466.8% |
| 47525 | G, Wholesale and retail trade | 705 | 3,519 | 2,814 | 399.1% |
| 47732 | G, Wholesale and retail trade | 2,116 | 8,508 | 6,392 | 302.1% |
| 86201 | Q, Human health and social work | 602 | 2,311 | 1,709 | 283.9% |
| 64929 | K, Financial and insurance | 475 | 1,798 | 1,323 | 278.5% |
| 96101 | S, Other services | 379 | 1,328 | 949 | 250.4% |
| 68201 | L, Real estate | 2,238 | 7,642 | 5,404 | 241.5% |
| 46104 | G, Wholesale and retail trade | 331 | 970 | 639 | 193.1% |
Filing companies by 5-digit TSIC code, 2015 versus 2025, as of 7 Jul 2026.
Why retail and health codes cluster at the top
Four of the ten fastest-growing codes sit inside section G, wholesale and retail trade. Two more sit inside section Q, human health and social work. Thailand's five digit codes carry no public description in this dataset, so none of these can be named beyond their number and parent section. What the pattern does show is a decade in which small trading and clinical activities formalized into registered companies faster than the economy overall. Independent research on Thailand's e-commerce sector found the number of online sellers grew from about 502,676 in 2014 to nearly 593,000 by 2017, with formal business registration lagging behind actual selling activity for years (Lam, 2020). A wave of that informal trade becoming registered companies after 2017 is a plausible driver of a retail code jumping from 641 to 6,513 filers, though this dataset cannot confirm the mechanism directly. TSIC 47912 also holds a 79.3 percent survival rate among every company ever registered under the code, meaning the growth was not simply churn of firms opening and closing within the same year.
Why this matters
TSIC 47912 and TSIC 63113 top two different rankings on this site, and that is the point. TSIC 63113 leads growth by revenue, powered by a handful of large filers including one dominant platform. TSIC 47912 leads growth by company count, powered by thousands of small filers instead. A code can add thousands of new filers without moving the national revenue needle at all. For anyone tracking where Thailand's company register is actually expanding, entity count answers a different question than revenue. On that question, retail and health related codes are where the growth concentrated between 2015 and 2025.
Definitions
- TSIC
- Thai Standard Industrial Classification, a hierarchy of codes that groups companies by economic activity. A 5-digit code is the most detailed level and sits inside one of 21 lettered sections.
- Filing company
- A company that submitted a financial statement to the DBD for a given statement year. Not every registered company files every year.
- Statement year
- The Buddhist calendar year the DBD registry uses to timestamp a filed financial statement. Buddhist year 2568 corresponds to Gregorian year 2025.
- Survival rate
- The share of every company ever registered under a code that remains active as of the data date, distinct from the year by year filing counts used for growth.
Assumptions
- Growth is measured in filing companies per statement year, not total registered companies, so it can move with filing behavior as well as new registration.
- Codes with fewer than 300 filing companies in 2015 are excluded from the growth ranking to avoid small-base distortion.
- Five digit code names are not published in the source data, so the likely activity behind a fast-growing code is described only in general terms, never asserted as fact.
- The e-commerce formalization reference provides plausible context for the retail trade cluster but does not confirm the specific activity of any single TSIC code.
Methodology
Filing company counts are drawn from market_tsic_year_insight, which counts companies that filed a financial statement under each 5-digit TSIC code for a given statement year, sourced from the DBD registry. The 2015 figures use Buddhist calendar statement year 2558 and the 2025 figures use statement year 2568, both refreshed as of 7 July 2026. Growth rate rankings exclude any code with fewer than 300 filing companies in 2015, so a tiny denominator cannot manufacture an extreme percentage. Section labels come from the fixed 21 letter TSIC section list. Five digit code names are not published in the source data, so codes are identified by number and parent section only, never by an inferred activity name.
How we verified this
- TSIC 47912 growth recomputed as (6513 minus 641) divided by 641 times 100, equal to 916.1 percent, matching the reported figure.
- Companies added for TSIC 47912 recomputed as 6513 minus 641, equal to 5872.
- Whole-economy filer growth recomputed as (712785 minus 478622) divided by 478622 times 100, equal to 48.9 percent.
- Multiple of TSIC 47912 growth over the whole economy recomputed as 916.1 divided by 48.9, equal to about 18.7 times.
- Wholesale and retail trade share of the top 10 list recomputed by counting section G codes among the 10 rows, 4 out of 10, equal to 40 percent.
- TSIC 47912 survival rate recomputed as 11093 active companies divided by 13980 total ever registered under the code, times 100, equal to 79.3 percent.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates by TSIC code. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- Lam, P. D. (2020). Thailand's e-commerce ecosystem: Understanding business formalization within the framework of tax and consumer protection regulations. Social Science Research Network. https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID3536891_code3989615.pdf?abstractid=3536891
Frequently asked questions
Which 5-digit Thai industry code added the most companies between 2015 and 2025 by growth rate?
TSIC 47912, a wholesale and retail trade code, grew 916.1 percent, from 641 filing companies in 2015 to 6,513 in 2025.
Is this the same ranking as the site's fastest-growing industry codes by revenue?
No. That ranking is led by TSIC 63113, driven by revenue concentrated in a few large companies. This page ranks by the number of companies filing under each code, and the leader is entirely different.
Why does the ranking exclude codes with very few companies in 2015?
A code with only a handful of companies in 2015 can post a triple digit or higher percentage from a single new registration. Codes with fewer than 300 filing companies in 2015 are excluded so the ranking reflects real breakout growth.
What does the DBD registry mean by a filing company?
A company that submitted a financial statement for that statement year. It is a narrower count than total registered companies, some of which have not yet filed for the year in question.
Cite this page
Chatpong L. (2026). Fastest-Growing Thai Industry Codes by Company Count, 2015-2025. Max Data Insights. https://maxdatathailand.com/insights/fastest-growing-thai-industry-codes-by-company-count-2015-2025
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.