How Few Industry Codes Generate Half of Thai Revenue 2026
In short
Thirty industry codes generate half of Thailand's corporate revenue. That is 2.44 percent of the country's 1,228 five digit TSIC codes, as of 7 July 2026. The top 30 codes together report 40.32 trillion baht, 50.35 percent of the 80.08 trillion baht attributed to all classified codes. One single code, inside the wholesale and retail trade section, accounts for 12.79 percent of that revenue by itself. Those same 30 codes hold only 18.83 percent of the companies carrying a code, so revenue concentrates far faster than headcount does.
How many industry codes does it take to reach half of Thailand's revenue?
Thirty codes. Rank every one of Thailand's 1,228 five digit TSIC codes in market_tsic_insight from highest total revenue to lowest and add the revenue up one code at a time, and the running total crosses half of the 80.08 trillion baht attributed to all classified codes right at the 30th code (DBD, 2026). One code earlier, at rank 29, the cumulative share sits at 49.77 percent, still short of half. By rank 30 it reaches 50.35 percent. That crossing point equals 40.32 trillion baht. Thirty out of 1,228 codes works out to 2.44 percent, close to the two percent figure that makes this concentration so stark. The single busiest code by itself, sitting inside the wholesale and retail trade section, reports 12.79 percent of all classified revenue on its own. Eighteen of the top 30 codes sit in that same wholesale and retail trade section, with manufacturing supplying most of the rest.
The cumulative revenue concentration curve
Figures in percent of classified revenue.
The curve climbs steeply through the first thirty codes, crosses fifty percent right there, then flattens for the remaining twelve hundred.
The crossover, code by code
| Rank | TSIC code | Section | Revenue this code, billion baht | Cumulative share |
|---|---|---|---|---|
| 21 | 46441 | G | 607 | 44.37% |
| 22 | 26109 | C | 604 | 45.12% |
| 23 | 20131 | C | 600 | 45.87% |
| 24 | 47112 | G | 585 | 46.60% |
| 25 | 47113 | G | 560 | 47.30% |
| 26 | 45401 | G | 521 | 47.95% |
| 27 | 19209 | C | 518 | 48.60% |
| 28 | 46691 | G | 472 | 49.19% |
| 29 | 45301 | G | 466 | 49.77% |
| 30 | 47524 | G | 464 | 50.35% |
Ranking Thailand's five digit TSIC codes by total revenue and tracking the cumulative share, as of 7 Jul 2026.
Why this matters
A registry that classifies companies into 1,228 possible five digit activities looks spread out until the money is ranked. Half of Thailand's corporate revenue sits inside just 30 of those codes. A companion analysis on this site found it takes 45 codes to reach half of all classified companies. Revenue needs fewer codes to reach the same halfway mark than headcount does, 30 against 45, which means the biggest revenue codes are not simply the biggest by company count. They are a smaller, more concentrated set. A lender scoring sector exposure, an investor screening for scale, or a policymaker weighing a rule that touches revenue thresholds is really writing for a short list of high value activities, most of them clustered in wholesale and retail trade and manufacturing, not for 1,228 evenly sized slices of the economy. Thailand's broader wealth picture rhymes with this finding. The World Bank has reported that the top 10 percent of Thai households hold more than half the country's household wealth (World Bank, 2020). Corporate revenue concentrating in a sliver of industry codes is the business register's version of the same pattern.
Definitions
- Five digit TSIC code
- The most granular level of Thailand's Standard Industrial Classification, used by the DBD to record each company's declared business activity.
- Classified code
- A five digit TSIC code with at least one company assigned to it and revenue reported against it in market_tsic_insight.
- Cumulative share
- The running total of revenue for the top N codes, divided by the total revenue across all classified codes, expressed as a percent.
- Concentration
- How unevenly a total is distributed across categories. High concentration means a small number of categories hold most of the total.
- Section
- One of the 21 broad, lettered industry groups in the TSIC hierarchy that sits above the five digit code, such as G for wholesale and retail trade.
Assumptions
- Only revenue attributed to the 1,228 classified codes in market_tsic_insight is counted, 80.08 trillion baht, which is 99.92 percent of the 80.15 trillion baht whole registry total reported in market_national_insight.
- Five digit code names are not available in the source data, so codes are reported by number and section only, not by industry label.
- Codes with low or no reported revenue are retained in the ranking and fall naturally at the bottom, they were not excluded.
Methodology
Every one of the 1,228 rows in market_tsic_insight, sourced from the Department of Business Development registry with computed_at 2026-07-07, was ranked by total_revenue from highest to lowest. A running cumulative sum and cumulative share of the 80.08 trillion baht total across all 1,228 rows was computed row by row to find the first rank where the cumulative share passed 50 percent. That total is 65.0 billion baht, 0.08 percent, below the 80.15 trillion baht whole registry figure in market_national_insight, a gap attributable to companies without a classified five digit code. Codes with no reported revenue were retained in the ranking and fall at the bottom. The cr5, cr10 and hhi columns on this table are null for every row and were not used anywhere in this calculation. Five digit industry names are not published by the source table, so codes are identified by number and section letter only.
How we verified this
- Summed total_revenue across all 1,228 rows of market_tsic_insight and got 80,083,020,653,176.25 baht, the denominator used for every share on this page.
- Ranked codes by total_revenue descending with a running cumulative sum. Cumulative share first passed 50 percent at rank 30, cumulative revenue 40,320,486,243,952.65, and 40320486243952.65 divided by 80083020653176.25 equals 50.35 percent. Rank 29 cumulative revenue was 39,857,021,549,298.34, which is 49.77 percent, confirming rank 30 is the true tipping point and not rank 29.
- Thirty codes out of 1,228 total codes equals 2.44 percent, the basis for the roughly two percent figure used in the headline.
- Confirmed the single top code, TSIC 47732 in section G, holds 10,245,617,628,814.75 baht in revenue, and that divided by 80,083,020,653,176.25 equals 12.79 percent.
- Summed entity_count for the same top 30 codes and got 374,104 companies. 374104 divided by the 1,986,709 companies carrying a classified code equals 18.83 percent, confirming that revenue concentrates in fewer codes than company count does for this exact set.
- Checked market_national_insight and found total_revenue of 80,148,033,688,000.39 baht, 65,013,034,824.14 baht, 0.08 percent, higher than the sum across the 1,228 classified tsic codes, and confirmed cr5, cr10 and hhi are null on all rows so no concentration column was touched in this calculation.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates by industry classification (TSIC). Ministry of Commerce, Thailand. https://www.dbd.go.th/
- World Bank. (2020). Taking the pulse of poverty and inequality in Thailand. World Bank Group. https://documents1.worldbank.org/curated/en/614661586924075867/pdf/Taking-the-Pulse-of-Poverty-and-Inequality-in-Thailand.pdf
Frequently asked questions
How many industry codes generate half of Thailand's corporate revenue?
Thirty, out of 1,228 five digit TSIC codes. Together they report 40.32 trillion baht, 50.35 percent of the 80.08 trillion baht attributed to all classified codes.
Is revenue more concentrated than company count across industry codes?
Yes. The same top 30 codes hold only 18.83 percent of the 1,986,709 classified companies, while a separate analysis on this site found it takes 45 codes to reach half of all companies. Revenue concentrates in fewer codes than headcount does.
Which single industry code generates the most revenue?
One code inside the wholesale and retail trade section alone generates 12.79 percent of all revenue across the 1,228 classified codes, more than the next two codes combined.
Why aren't the five digit codes named by industry?
The underlying registry table does not carry an English description for five digit codes, only for the twenty one lettered sections, so codes are reported by number and section here rather than by name.
Cite this page
Chatpong L. (2026). How Few Industry Codes Generate Half of Thai Revenue 2026. Max Data Insights. https://maxdatathailand.com/insights/how-few-industry-codes-generate-half-of-thai-revenue-2026
Data & corrections
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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.