Biggest Year-on-Year Swings in Thai Company Formation (2026)
In short
New Thai company registrations rose 23.51 percent in 2021, the biggest annual jump since 2008. A year later they fell 20.69 percent, the only deep drop on record. Only two of the 18 years from 2008 to 2025 shrank. 2017 ranked second, at 22.63 percent. 2013 ranked third, at 21.84 percent. All figures are as of 17 July 2026.
Which years moved the most?
The 2021 registration year moved the most. New Thai company registrations climbed 23.51 percent that year (DBD, 2026), from 122,427 to 151,205. Two earlier years came close. 2017 rose 22.63 percent. 2013 rose 21.84 percent. Then the direction flipped. Registrations fell 20.69 percent in 2022. They fell another 6.22 percent in 2023. Those are the only two declines in the 18 year-on-year changes from 2008 to 2025. Growth has been the rule, and the rises have come in bursts.
Year-on-year change in new company registrations
- 202124
- 201723
- 201322
- 201017
- 201816
- 202010
- 201110
- 20089
- 20129
- 20248
- 20158
- 20097
- 20167
- 20197
- 20256
- 20145
- 2023-6
- 2022-21
Figures in percent change on the prior year.
Years sorted from the biggest rise to the biggest fall. Only 2022 and 2023 sit below zero.
Annual swings ranked from biggest rise to biggest fall
| Rank | Founding year | New companies | Prior year | Change |
|---|---|---|---|---|
| 1 | 2,021 | 151,205 | 122,427 | +23.51% |
| 2 | 2,017 | 89,719 | 73,163 | +22.63% |
| 3 | 2,013 | 60,270 | 49,466 | +21.84% |
| 4 | 2,010 | 41,404 | 35,371 | +17.06% |
| 5 | 2,018 | 104,273 | 89,719 | +16.22% |
| 6 | 2,020 | 122,427 | 111,284 | +10.01% |
| 7 | 2,011 | 45,389 | 41,404 | +9.62% |
| 8 | 2,008 | 33,093 | 30,227 | +9.48% |
| 9 | 2,012 | 49,466 | 45,389 | +8.98% |
| 10 | 2,024 | 121,657 | 112,461 | +8.18% |
| 11 | 2,015 | 68,500 | 63,417 | +8.02% |
| 12 | 2,009 | 35,371 | 33,093 | +6.88% |
| 13 | 2,016 | 73,163 | 68,500 | +6.81% |
| 14 | 2,019 | 111,284 | 104,273 | +6.72% |
| 15 | 2,025 | 128,617 | 121,657 | +5.72% |
| 16 | 2,014 | 63,417 | 60,270 | +5.22% |
| 17 | 2,023 | 112,461 | 119,923 | -6.22% |
| 18 | 2,022 | 119,923 | 151,205 | -20.69% |
New registrations by founding year and change on the prior year, as of 17 Jul 2026.
Why this matters
Year-on-year change is the plainest way to see whether business formation is speeding up or cooling off. The 2021 peak was not a gentle high. It was a spike that the next year erased, with 31,282 fewer new companies in 2022 than in 2021. The recovery since is steady rather than dramatic. 2024 rose 8.18 percent. 2025 rose 5.72 percent. A reader tracking Thai business demand should treat a 20 percent jump as a warning about the following year, not as a new normal. The three biggest rises came in 2013, 2017 and 2021, each four years after the last. That pattern is worth watching but it is not a forecast. Even after the fall, 2025 registrations of 128,617 are 4.26 times the 30,227 recorded in 2007. The long climb survived the shock.
Definitions
- Year-on-year change
- The percentage difference between a year's value and the value of the year before.
- Founding year
- The calendar year in which a company was registered, in the Gregorian calendar.
- New registration
- A company recorded in the DBD registry with a given founding year.
Assumptions
- Counts reflect companies on the register as of 17 July 2026, so removed companies are not counted.
- 2026 is excluded as an incomplete year.
- Registrations measure legal formation, not business activity or survival.
Methodology
New registrations are counted by founding year from the Department of Business Development registry, as of 17 July 2026. Year-on-year change is the new companies in a year divided by the new companies in the year before, minus one. The first measured change is 2008 against 2007. 2026 is excluded because the year was incomplete when the data was drawn. Counts cover companies still on the register, so earlier years may be slightly understated if some companies were later removed.
How we verified this
- 2021 change recomputed: 151,205 divided by 122,427 is 1.2351, a rise of 23.51 percent.
- 2022 change recomputed: 119,923 divided by 151,205 is 0.7931, a fall of 20.69 percent.
- 2017 change recomputed: 89,719 divided by 73,163 is 1.2263, a rise of 22.63 percent.
- 2013 change recomputed: 60,270 divided by 49,466 is 1.2184, a rise of 21.84 percent.
- 2023 change recomputed: 112,461 divided by 119,923 is 0.9378, a fall of 6.22 percent.
- Gap in 2022 recomputed: 151,205 minus 119,923 equals 31,282.
- Long run multiple recomputed: 128,617 divided by 30,227 equals 4.26.
- Count of 18 changes from 2008 to 2025 confirmed, with 16 positive and 2 negative.
References
- Department of Business Development. (2026). Registered juristic persons and new company registrations by founding year. Ministry of Commerce, Thailand. https://www.dbd.go.th/
Frequently asked questions
Which year had the biggest rise in new Thai company registrations?
2021, with a rise of 23.51 percent to 151,205 new companies, as of 17 July 2026.
Which year had the biggest fall?
2022, with a fall of 20.69 percent to 119,923 new companies.
Did registrations keep falling after 2022?
They fell a further 6.22 percent in 2023, then rose 8.18 percent in 2024 and 5.72 percent in 2025.
Why is 2026 not in the ladder?
The 2026 year was still incomplete in the data, so a full year comparison would mislead.
Cite this page
Chatpong L. (2026). Biggest Year-on-Year Swings in Thai Company Formation (2026). Max Data Insights. https://maxdatathailand.com/insights/thai-company-formation-year-on-year-changes-ranked-2008-2025
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.
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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.