Thai Industries Where Growth Is Accelerating or Reversing 2026
In short
Wholesale on a fee or contract basis of computers, software and telecommunications equipment posted Thailand's sharpest growth acceleration among named industry codes, jumping to 197.7 percent one-year revenue growth from a 44.4 percent five-year pace, a swing of 153.3 percentage points, as of 14 Aug 2026. Operation of lottery swung the other way, cooling to 7.9 percent growth after a 94.8 percent five-year run. Among 692 named industry codes with a meaningful filing base, only 144 are accelerating. The other 548, about four in five, are decelerating against their own five-year pace.
Which named industry is accelerating fastest?
Wholesale on a fee or contract basis of computers, software, electronic and telecommunications equipment leads Thailand's acceleration list. Industry code 46104 grew revenue at a 44.37 percent annual pace over the five years to 2025, then jumped to 197.70 percent growth in that single latest year, a swing of 153.32 percentage points, according to the DBD registry (DBD, 2026). The code covers 2,272 companies ever registered, with 971 filing a financial statement for 2025. Manufacture and assembly of electronic computers, code 26201, ranks second. Its five-year pace of 20.49 percent a year jumped to 128.50 percent, a swing of 108.01 percentage points, on 188 filing companies. Wholesale of ferrous and non-ferrous metal ores, code 46621, ranks third with a 91.65 point swing, moving from 46.38 percent to 138.03 percent growth. That code alone reported 3.53 trillion baht of revenue in 2025, equal to 4.4 percent of every baht reported by all of Thailand's registered companies. Four of the five fastest accelerating codes sit inside wholesale and retail trade, section G. The fifth, electronic computer manufacturing, sits in manufacturing, section C.
Growth swing by industry code, latest-year pace minus five-year pace
- 46104 Computer/software wholesale, fee basis153
- 26201 Electronic computer manufacture108
- 46621 Metal ore wholesale92
- 46613 Gaseous fuel wholesale82
- 46107 Construction materials wholesale, fee basis72
- 23969 Other stone products manufacture-57
- 71103 Geophysical and geologic consultancy-64
- 91031 Botanical and zoological gardens-67
- 62021 Hardware consultancy activities-67
- 92001 Operation of lottery-87
Figures in percentage points.
A bar above zero means the code sped up in the latest year. A bar below zero means a strong run cooled or flipped into decline.
Ten industry codes at the extremes of growth momentum
| TSIC code | Industry | Section | Five-year growth | Latest-year growth | Swing | Companies filing 2025 |
|---|---|---|---|---|---|---|
| 46104 | Wholesale on a fee or contract basis of computers, software, electronic and telecommunications equipment | G | 44.37% | 197.70% | +153.32 pts | 971 |
| 26201 | Manufacture and assembly of electronic computers | C | 20.49% | 128.50% | +108.01 pts | 188 |
| 46621 | Wholesale of ferrous and non-ferrous metal ores | G | 46.38% | 138.03% | +91.65 pts | 458 |
| 46613 | Wholesale of gaseous fuels | G | 23.45% | 105.56% | +82.11 pts | 300 |
| 46107 | Wholesale on a fee or contract basis of construction materials, hardware, plumbing and heating equipment | G | 30.22% | 102.56% | +72.34 pts | 874 |
| 23969 | Manufacture of other stone products not elsewhere classified | C | 37.94% | -19.45% | -57.39 pts | 62 |
| 71103 | Geophysical and geologic activities and related technical consultancy | M | 25.01% | -39.11% | -64.12 pts | 205 |
| 91031 | Botanical and zoological gardens | R | 16.31% | -50.73% | -67.04 pts | 44 |
| 62021 | Hardware consultancy activities | J | 25.28% | -42.09% | -67.36 pts | 460 |
| 92001 | Operation of lottery | R | 94.77% | 7.91% | -86.85 pts | 382 |
Five-year and latest-year revenue growth for five-digit TSIC codes with at least 100 registered companies, 30 companies filing a 2025 statement and 500 million baht of 2025 revenue, as of 14 Aug 2026.
Which named industry reversed hardest?
Operation of lottery posted the sharpest reversal of any named industry code. Code 92001 grew revenue at a 94.77 percent annual pace over the five years to 2025, then slowed to just 7.91 percent growth in the latest year, a drop of 86.85 percentage points. The code carries 4,555 companies ever registered, though only 382 filed a statement for 2025. Hardware consultancy activities, code 62021, swung from 25.28 percent five-year growth into an outright 42.09 percent revenue decline in the latest year, a drop of 67.36 percentage points. Botanical and zoological gardens, code 91031, and geophysical and geologic technical consultancy, code 71103, both flipped from double digit five-year growth into latest-year declines beyond 39 percent. Manufacture of other stone products, code 23969, rounds out the top five reversals, sliding from 37.94 percent five-year growth to a 19.45 percent drop. None of these five codes is tiny by registration count, each carries at least 100 registered companies and at least 30 filers in 2025, so the reversals reflect a real change in each code's revenue base rather than a single outlier statement.
Why the acceleration to reversal ratio matters
The real story sits above any single code. Among the 692 named industry codes with a meaningful filing base, at least 100 registered companies, at least 30 filers in 2025 and at least 500 million baht of 2025 revenue, only 144 are accelerating against their own five-year pace. That is roughly one in five. The other 548 codes, four out of every five, are decelerating. Thailand's own economic planners see a version of the same pattern from a different angle. The National Economic and Social Development Council reported industrial production growth of just 0.1 percent nationally in the second quarter of 2026, even as investment and exports kept expanding (NESDC, 2026). A handful of loud outliers such as computer wholesaling and metal ore trading can dominate a headline while the broader base of named industries quietly loses momentum underneath it. Reading one code's growth rate without checking where it sits against this wider base risks mistaking a single fast mover for an economy wide trend.
Definitions
- TSIC code
- A five-digit Thailand Standard Industrial Classification code, the government's system for sorting a registered company into one detailed industry.
- Five-year growth pace
- The compound annual growth rate of an industry code's aggregate revenue between the 2020 and 2025 statement years, the rate at which revenue would need to grow every year to move from the first figure to the second.
- Latest-year growth pace
- The percentage change in an industry code's aggregate revenue between the 2024 and 2025 statement years.
- Swing
- Latest-year growth pace minus five-year growth pace, in percentage points. A positive swing means the code is accelerating. A negative swing means it is decelerating or reversing.
- Materiality bar
- The minimum size a code must clear to appear in this ranking: at least 100 companies ever registered, at least 30 companies filing a 2025 statement, and at least 500 million baht of 2025 revenue.
- Registered versus filing companies
- A registered company is any entity ever assigned that industry code. A filing company is one that submitted a financial statement for the year in question, a smaller and more current number.
Assumptions
- Growth is computed on aggregate revenue for each code, not the average of individual companies' own growth rates, so a few large companies can move a code's figure.
- The materiality thresholds of 100 registered companies, 30 filers and 500 million baht of 2025 revenue are a judgment call meant to exclude noisy, thin codes, not an official DBD standard.
- Industry names are matched from the public Thailand Standard Industrial Classification 2009 code list rather than from a name field inside the aggregate tables, since that field carries no industry names for five-digit codes.
- The revenue-by-year table refreshed in batches between 7 Jul 2026 and 14 Aug 2026, so figures reflect that most recent refresh rather than the earlier snapshot used for company counts.
Methodology
Five-year growth is the compound annual growth rate of revenue between the 2020 and 2025 statement years, Buddhist calendar 2563 and 2568, for companies filing under each five-digit TSIC industry code in the DBD registry, refreshed as of 14 Aug 2026. Latest-year growth compares the 2025 statement year against 2024. Swing is latest-year growth minus five-year growth, stated in percentage points, and shows whether an industry code is speeding up or slamming into reverse. The ranking keeps only industry codes with at least 100 companies ever registered, at least 30 companies filing a 2025 statement and at least 500 million baht of 2025 revenue, a bar meant to stop one or two large filers from swinging a tiny code. Industry names are the official Thailand Standard Industrial Classification 2009 titles for each five-digit code, matched from Thailand's public business registry directory since the DBD aggregate tables used here carry the code numbers but not the industry names. Figures are revenue aggregates across all companies within a code, not the average of each company's own growth rate. The underlying revenue-by-year table has refreshed in batches since early July 2026, so growth figures here reflect the freshest available data as of 14 Aug 2026, newer than the registry snapshot used for company counts and section codes, dated 17 Jul 2026.
How we verified this
- Recomputed code 46104's swing from unrounded revenue figures: 197.6957 percent minus 44.3742 percent equals positive 153.32 percentage points.
- Recomputed code 92001's swing from unrounded revenue figures: 7.9130 percent minus 94.7675 percent equals negative 86.85 percentage points.
- Recounted the materiality pool directly from the joined revenue-by-year data: 692 industry codes clear the bar of 100 or more registered companies, 30 or more 2025 filers and 500 million baht or more of 2025 revenue.
- Recomputed the accelerating and decelerating shares: 144 divided by 692 equals 20.81 percent, and 548 divided by 692 equals 79.19 percent, the two shares summing to the full pool of 692 codes.
- Confirmed code 46621's 2025 revenue of 3.53 trillion baht equals 4.4 percent of the 80.15 trillion baht total revenue reported by all of Thailand's registered companies as of 17 Jul 2026.
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. (2026). Thai economic performance in Q2 of 2026 and the outlook for 2026. NESDC, Thailand. https://www.nesdc.go.th/wp-content/uploads/2026/08/03-PRESS-EN-Q2-2026-Final.pdf
Frequently asked questions
Which Thai industry code is accelerating fastest in 2026?
Wholesale on a fee or contract basis of computers, software and telecommunications equipment, TSIC code 46104. Its revenue growth jumped to 197.70 percent in the latest year from a 44.37 percent five-year pace, a swing of 153.32 percentage points.
Which Thai industry code slowed down the most?
Operation of lottery, TSIC code 92001. Its revenue growth fell to 7.91 percent in the latest year from a 94.77 percent five-year pace, a drop of 86.85 percentage points.
How many named Thai industries are actually speeding up?
Only 144 of the 692 named industry codes with a meaningful filing base are accelerating against their own five-year pace. The remaining 548 codes are decelerating.
What counts as an industry code accelerating or reversing here?
Acceleration means the latest-year revenue growth rate is higher than the code's own five-year compound annual growth rate. Reversal means the latest-year rate is lower, including a swing into an outright decline.
Cite this page
Chatpong L. (2026). Thai Industries Where Growth Is Accelerating or Reversing 2026. Max Data Insights. https://maxdatathailand.com/insights/named-thai-industries-where-growth-is-accelerating-or-reversing-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.