Growing vs Shrinking Thai Industry Codes by Sector, 2026
In short
768 of Thailand's 938 five digit industry codes grew in revenue between 2015 and 2025, while 170 shrank, as of 14 August 2026. Manufacturing carried 81 shrinking codes out of 362, more than any other sector. Information and communication came closest to an even split, with 26 codes growing against 22 shrinking. Five sections, electricity and gas, water and waste, accommodation, real estate, and human health, had every single code grow. Growth here is measured by revenue per code, not by company count.
Which Thai industry codes grew and which shrank
Look inside any of Thailand's industry sections and the story is a split verdict, not a single trend. Across the 938 five digit industry codes with revenue reported in both 2015 and 2025, 768 grew and 170 shrank, as of 14 August 2026. That works out to 81.9 percent growing against 18.1 percent shrinking nationwide. The split is far from even once you break it out by sector. Five sections, electricity and gas, water and waste, accommodation and food service, real estate, and human health, had every single code grow. Manufacturing, the largest sector by code count, carried 81 shrinking codes out of 362. Information and communication came closest to a coin flip, with 26 codes growing and 22 shrinking, a 45.8 percent shrink share, the highest of any sector analyzed.
Shrink share by industry sector, 2015 to 2025
- Information and communication46
- Mining and quarrying32
- Manufacturing22
- Construction18
- Financial and insurance17
- Agriculture, forestry and fishing16
- Professional, scientific and technical15
- Administrative and support15
- Transportation and storage14
- Other service activities13
- Wholesale and retail trade12
- Arts, entertainment and recreation7
- Education5
- Electricity and gas0
- Water supply and waste management0
- Accommodation and food service0
- Real estate0
- Human health and social work0
Figures in percent of industry codes that shrank in revenue.
Information and communication carries the highest shrink share of any sector. Five sections have none at all.
Industry codes analyzed by sector, 2015 to 2025
| Industry sector | Codes analyzed | Grew | Shrank | Shrink share |
|---|---|---|---|---|
| Information and communication | 48 | 26 | 22 | 45.8% |
| Mining and quarrying | 19 | 13 | 6 | 31.6% |
| Manufacturing | 362 | 281 | 81 | 22.4% |
| Construction | 22 | 18 | 4 | 18.2% |
| Financial and insurance | 35 | 29 | 6 | 17.1% |
| Agriculture, forestry and fishing | 58 | 49 | 9 | 15.5% |
| Professional, scientific and technical | 27 | 23 | 4 | 14.8% |
| Administrative and support | 41 | 35 | 6 | 14.6% |
| Transportation and storage | 50 | 43 | 7 | 14.0% |
| Other service activities | 23 | 20 | 3 | 13.0% |
| Wholesale and retail trade | 163 | 143 | 20 | 12.3% |
| Arts, entertainment and recreation | 14 | 13 | 1 | 7.1% |
| Education | 21 | 20 | 1 | 4.8% |
| Electricity and gas | 6 | 6 | 0 | 0.0% |
| Water supply and waste management | 12 | 12 | 0 | 0.0% |
| Accommodation and food service | 16 | 16 | 0 | 0.0% |
| Real estate | 6 | 6 | 0 | 0.0% |
| Human health and social work | 15 | 15 | 0 | 0.0% |
| All sectors, national total | 938 | 768 | 170 | 18.1% |
Five digit TSIC codes with revenue reported in both the 2015 and 2025 statement years, grouped by lettered industry section, as of 14 Aug 2026.
Why the split inside each sector matters
A sector's headline growth number can hide a great deal of churn underneath it. Manufacturing as a whole still expanded across the decade, yet 81 of its 362 codes lost revenue ground, a sign that new product lines are replacing old ones rather than every factory growing in step. Information and communication looks unsettled at the code level even though the sector overall grew, a sign that technology is moving faster than any single business line can keep pace with. Thailand's National Economic and Social Development Council has called for a shift toward higher value industries as productivity growth has slowed (NESDC, 2025). This code level data shows that shift already under way unevenly, sector by sector and code by code, ahead of any single policy that tries to steer it. For an investor or a policymaker, the code count behind a sector average is often more informative than the average itself.
Definitions
- 5-digit industry code
- The most detailed level of Thailand's Standard Industrial Classification, one step below the lettered industry section such as manufacturing or wholesale trade.
- Grew
- A code's total reported revenue in the 2025 statement year was higher than its total reported revenue in the 2015 statement year.
- Shrank
- A code's total reported revenue in the 2025 statement year was lower than its total reported revenue in the 2015 statement year.
- Statement year
- The Buddhist calendar year a company used when filing its annual financial statement with the Department of Business Development. Year 2558 in the filing system is 2015, and 2568 is 2025.
- Shrink share
- The share of a sector's analyzed industry codes whose revenue fell over the ten year window, shrinking codes divided by all codes analyzed in that sector.
Assumptions
- The analysis includes only the 938 industry codes with reported revenue in both the 2015 and 2025 statement years. Ninety two codes that appear in only one of the two years, because they were newly assigned or stopped reporting, are excluded so growth can be measured cleanly between two fixed points.
- Public administration, households and extraterritorial organizations are excluded because too few of their codes carry continuous revenue data across the decade.
- Growth is measured by aggregate revenue per code, not by the number of companies filed under it. A code can add companies while its total revenue falls, or the reverse.
Methodology
For each five digit TSIC industry code, total reported revenue in the 2568 Buddhist statement year, which is 2025, was compared with total reported revenue in the 2558 statement year, which is 2015, using DBD registry aggregates as of 14 August 2026. A code was counted as grown when its 2025 revenue exceeded its 2015 revenue, and shrunk when 2025 revenue was lower. Only codes with revenue reported in both years were kept, 938 of them, then grouped by their lettered industry section. Public administration, households and extraterritorial organizations were excluded because too few of their codes carry continuous revenue across the decade.
How we verified this
- Summed grew, 768, and shrank, 170, across all 18 sections and confirmed the total equals the 938 codes analyzed, with no double counting.
- Manufacturing shrink share recomputed as 81 divided by 362, equal to 22.4 percent, matching the reported figure.
- Information and communication shrink share recomputed as 22 divided by 48, equal to 45.8 percent, the highest of the 18 sections analyzed.
- Confirmed each of the five all growth sections, electricity and gas, water and waste, accommodation, real estate, and human health, had zero shrinking codes in the underlying counts.
- National shrink share recomputed as 170 divided by 938, equal to 18.1 percent, and grew share as 768 divided by 938, equal to 81.9 percent, summing to 100 percent.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- National Economic and Social Development Council. (2025). Thai economic performance in Q4 of 2025 and the outlook for 2026. https://www.nesdc.go.th/en/download/press-release-47/?ddl=99987
Frequently asked questions
How many Thai industry codes grew between 2015 and 2025?
768 of the 938 five digit industry codes with revenue reported in both years grew, 81.9 percent of the total, as of 14 Aug 2026.
Which Thai sectors had every single industry code grow?
Five sections had zero shrinking codes each: electricity and gas, water supply and waste management, accommodation and food service, real estate, and human health and social work.
Which sector has the highest share of shrinking industry codes?
Information and communication, where 22 of its 48 codes shrank, a shrink share of 45.8 percent, the highest of any sector analyzed.
How many manufacturing industry codes shrank?
81 of manufacturing's 362 codes shrank in revenue between 2015 and 2025, a shrink share of 22.4 percent.
Cite this page
Chatpong L. (2026). Growing vs Shrinking Thai Industry Codes by Sector, 2026. Max Data Insights. https://maxdatathailand.com/insights/growing-vs-shrinking-industry-codes-within-each-thai-sector-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.
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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.