Nakhon Ratchasima vs Chiang Mai: Revenue per Company 2026
In short
Nakhon Ratchasima averages 15.74 million baht in revenue per registered company, as of 17 July 2026. Chiang Mai averages just 8.11 million baht per company, less than half as much. Chiang Mai carries 65,164 registered companies against Nakhon Ratchasima's 33,958, nearly double the count. Yet total revenue in the two provinces is almost identical, 534.50 billion baht against 528.72 billion baht. Split similar revenue across twice the companies and the average company shrinks by half.
Which province earns more per company?
Nakhon Ratchasima wins this comparison on efficiency, not on size. Its 33,958 registered companies report 534.50 billion baht in combined revenue, which works out to 15.74 million baht per company, according to DBD data as of 17 July 2026. Chiang Mai holds far more companies, 65,164 of them, yet its combined revenue comes to only 528.72 billion baht, or 8.11 million baht per company. Divide one figure by the other and Nakhon Ratchasima's average company earns 1.94 times what a Chiang Mai company earns. Chiang Mai's company count, meanwhile, runs 1.92 times higher than Nakhon Ratchasima's. Two provinces, almost the same economic output, twice the crowding in one of them.
Average revenue per registered company
- Nakhon Ratchasima16
- Chiang Mai8
- Thailand average40
- Bangkok62
Figures in million baht per company.
Both provincial averages sit well under the national figure, a reminder of how much Bangkok's large filers pull the national number upward.
Nakhon Ratchasima and Chiang Mai side by side
| Province | Registered companies | Total revenue baht | Revenue per company baht | National rank by revenue | National rank by company count |
|---|---|---|---|---|---|
| Nakhon Ratchasima | 33,958 | 534,495,649,226 | 15,739,904 | 14 | 9 |
| Chiang Mai | 65,164 | 528,719,407,450 | 8,113,673 | 15 | 6 |
| Thailand, all provinces | 1,989,709 | 80,146,498,562,464 | 40,280,513 | n/a | n/a |
Registered companies, total revenue and revenue per company, as of 17 Jul 2026.
Why the gap matters
Nakhon Ratchasima anchors the northeastern region as its main commercial and logistics hub, feeding manufacturing and agribusiness supply chains that run through fewer, larger registered firms. Chiang Mai anchors the north instead as a magnet for tourism operators, services and small creative businesses, and that pattern shows up directly in the count. A province can rank 6th nationally by company count and still fall to 15th by total revenue, exactly what happens to Chiang Mai here, while Nakhon Ratchasima sits one place ahead in revenue at 14th despite ranking 9th in company count. For a lender or a franchise operator deciding where to plant a flag, company count alone would point to Chiang Mai as the bigger prize. Revenue per company tells the opposite story, and both figures come from the same registry on the same day.
Definitions
- Registered company
- A juristic person recorded in the DBD registry and carrying a size classification, whether or not it has filed a recent financial statement.
- Revenue per company
- Total reported revenue in a province divided by the number of registered companies in that province. It is an average, not a typical company's actual revenue, since a handful of large filers can pull the figure upward.
- Aggregate revenue
- The sum of the latest filed financial statement revenue across all companies in a province, not an estimate of provincial GDP.
- National average
- Total reported revenue across all 1,989,709 registered companies in Thailand divided by that same count, used here as the benchmark against which both provinces are measured.
Assumptions
- Entity_count includes every company with a size classification in the province, not only companies with a recent filed statement, so revenue per company is a provincial average rather than a per-filer figure.
- Revenue reflects the most recent filed financial statement per company, so provinces with older or missing filings could understate their true current revenue.
- A small number of large firms can dominate a province's total revenue, so revenue per company is an average, not a description of the typical local company.
- Rankings by revenue and by company count are drawn from the same 17 July 2026 snapshot and will shift as new statements are filed.
Methodology
Figures are drawn from the market_province_insight aggregate table in the DBD registry, computed 17 July 2026. Entity_count is every registered company in the province carrying a size classification, and total_revenue sums the latest filed financial statement for each of those companies. Revenue per company divides total_revenue by entity_count for each province. National ranks compare all 76 provinces plus Bangkok, sorted independently by total revenue and by entity_count. The national average and the Bangkok average use the same division against the verified national totals for all registered companies.
How we verified this
- 534,495,649,226 baht divided by 33,958 companies equals 15,739,904 baht per company for Nakhon Ratchasima.
- 528,719,407,450 baht divided by 65,164 companies equals 8,113,673 baht per company for Chiang Mai.
- 15,739,904 divided by 8,113,673 equals 1.94, confirming Nakhon Ratchasima's average company earns close to twice Chiang Mai's.
- 65,164 divided by 33,958 equals 1.92, confirming Chiang Mai carries nearly double the registered companies.
- 534,495,649,226 minus 528,719,407,450 equals 5,776,241,776 baht, which is 1.09 percent of Chiang Mai's total, confirming the two totals are almost identical.
- 80,146,498,562,464 baht divided by 1,989,709 registered companies equals 40,280,513 baht, the national average used for comparison in the chart.
- Sorting all provinces by total revenue places Nakhon Ratchasima 14th and Chiang Mai 15th. Sorting the same provinces by entity_count places Chiang Mai 6th and Nakhon Ratchasima 9th.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- Office of the National Economic and Social Development Council. (2024). Gross regional and provincial product. Office of the Prime Minister, Thailand. https://www.nesdc.go.th/en/info/gross-regional-and-provincial-product-gpp/
Frequently asked questions
Which earns more per company, Nakhon Ratchasima or Chiang Mai?
Nakhon Ratchasima. Its registered companies average 15.74 million baht in revenue each, against 8.11 million baht for a Chiang Mai company, based on DBD data as of 17 July 2026.
Which province has more registered companies?
Chiang Mai, with 65,164 registered companies against Nakhon Ratchasima's 33,958, nearly double the count.
Do the two provinces earn similar total revenue?
Yes. Nakhon Ratchasima reports 534.50 billion baht and Chiang Mai reports 528.72 billion baht, a gap of only 1.09 percent.
How does either province compare with the national average?
Both sit well below it. The national average is 40.28 million baht per company, so Nakhon Ratchasima runs at 39 percent of that figure and Chiang Mai at 20 percent.
Cite this page
Chatpong L. (2026). Nakhon Ratchasima vs Chiang Mai: Revenue per Company 2026. Max Data Insights. https://maxdatathailand.com/insights/nakhon-ratchasima-vs-chiang-mai-business-comparison-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.