Thai Industries Losing Companies as Revenue Grows 2026
In short
Eleven of Thailand's eighteen private industry sections filed fewer company statements for statement year 2568 than for 2567, even as national revenue kept climbing. Wholesale and retail trade lost the most, down 5,892 companies, a 2.44 percent drop, while its revenue rose 18.2 percent. Five other sections pulled off the same trick: agriculture, mining, construction, information and communication, and professional and scientific services all shrank in company count while growing revenue. Together those six sections shed 10,597 companies and still added 5.33 trillion baht in revenue. Fewer firms are now doing more business.
Which Thai industries are shrinking in headcount but not in revenue?
Eleven of Thailand's eighteen private industry sections filed fewer company financial statements for statement year 2568 than for statement year 2567, the prior fiscal year (DBD, 2026). That is a real reversal in a registry where the total company count has climbed almost every year since 2007. Wholesale and retail trade shows the pattern most sharply. Its filing count fell from 241,377 to 235,485, a loss of 5,892 companies, down 2.44 percent. Its revenue moved the opposite way, up 18.2 percent, from 28.34 trillion baht to 33.50 trillion baht. Five more sections repeat this split between fewer filers and more revenue: agriculture, mining, construction, information and communication, and professional and scientific services. National filings fell 2.05 percent over the same year even as national revenue rose 5.2 percent, so the pattern shows up in the whole economy, not just one sector.
Revenue growth in sections that are also losing companies
- Wholesale and retail trade18
- Mining and quarrying6
- Information and communication5
- Professional, scientific and technical4
- Construction4
- Agriculture, forestry and fishing1
Figures in percent revenue growth, statement year 2567 to 2568.
Six sections lost registered companies and still grew revenue in the same year. Wholesale and retail trade shows the widest gap between a shrinking company count and rising revenue.
The eleven sections losing companies, statement year 2567 to 2568
| Industry section | Companies 2567 | Companies 2568 | Company change | Revenue change |
|---|---|---|---|---|
| Wholesale and retail trade | 241,377 | 235,485 | -5,892 | +18.20% |
| Construction | 78,883 | 75,263 | -3,620 | +3.67% |
| Manufacturing | 85,743 | 82,520 | -3,223 | -4.68% |
| Transportation and storage | 30,103 | 28,682 | -1,421 | -2.00% |
| Administrative and support | 39,849 | 39,130 | -719 | -6.27% |
| Agriculture, forestry and fishing | 8,000 | 7,541 | -459 | +0.98% |
| Information and communication | 21,435 | 21,057 | -378 | +5.38% |
| Professional, scientific and technical | 60,825 | 60,635 | -190 | +3.81% |
| Real estate | 75,985 | 75,896 | -89 | -7.05% |
| Water supply and waste management | 2,151 | 2,066 | -85 | -1.30% |
| Mining and quarrying | 2,010 | 1,952 | -58 | +6.32% |
Filed company count and revenue change by industry section, as of 14 Aug 2026.
Why this matters
A shrinking company count next to rising revenue is the arithmetic of consolidation. Either weaker firms are closing or merging while the survivors take a bigger share of the same market, or a handful of larger operators are absorbing volume that used to be split across many small competitors. Wholesale and retail trade is Thailand's largest sector by company count, so a 2.44 percent drop there still means thousands of stores, distributors, and traders that no longer filed a statement this year. Bank of Thailand data shows small business lending contracting while large corporate lending keeps expanding, a credit side echo of the same shift toward bigger players (Bank of Thailand, 2025). None of this proves that any single company failed. It does mean that in six sections, and across the country as a whole, fewer businesses are now splitting a bigger pool of revenue than a year earlier, a shift that a single year snapshot would never reveal.
Definitions
- Statement year
- The Buddhist calendar fiscal year a filed financial statement covers. Statement year 2567 is fiscal year 2024, and statement year 2568 is fiscal year 2025.
- Company count
- The number of registered companies that filed a financial statement for a given statement year, not the total number of companies ever registered in that sector.
- Industry section
- One of the lettered top level categories in the TSIC industry classification, such as wholesale and retail trade or construction, each built from many five digit industry codes.
- Consolidation
- A market pattern in which fewer firms account for a growing share of activity, whether through closures, mergers, or faster growth by the largest players.
Assumptions
- Company count reflects companies that filed a statement for that fiscal year. A company that files late in a following year would not appear in that year's count even if it remains active, so a small part of any single year change can reflect filing timing rather than a real exit.
- Sections are compared using two consecutive statement years, 2567 and 2568, rather than the incomplete 2569 year, which has only a few thousand filings so far.
- Revenue and company counts are aggregated up from five digit TSIC codes, so each section total combines many different sub industries that may be moving in different directions.
Methodology
Company counts are the number of DBD registered juristic persons that filed a financial statement for statement year 2567 or statement year 2568, aggregated from five digit TSIC codes up to their parent lettered industry section, as of 14 August 2026. Statement years follow the Buddhist calendar, so 2567 is fiscal 2024 and 2568 is fiscal 2025. The most recent statement year, 2569, is excluded because only a few thousand statements have been filed for it so far. Three lettered sections, public administration, households, and extraterritorial bodies, carry almost no private company filings and are excluded, leaving eighteen sections in scope. A falling company count reflects fewer companies filing a statement for that year. It can reflect real closures or mergers, but it can also include some filing delay, so it is read here as a consolidation signal rather than proof of company closures.
How we verified this
- Wholesale and retail trade company count fell from 241,377 to 235,485, a change of negative 5,892, which is negative 5,892 divided by 241,377, or negative 2.44 percent.
- Wholesale and retail trade revenue rose from 28,342,301,233,624.96 to 33,500,071,738,864.02 baht, a gain of 5,157,770,505,239.06 baht, or 18.20 percent of the statement year 2567 base.
- Across the eighteen sections with registry data, summing the sign of each section's company count change from 2567 to 2568 gives 11 sections negative and 7 sections positive.
- Of those 11 declining sections, checking revenue direction for each shows 6 with a positive revenue change: agriculture, mining, construction, wholesale and retail trade, information and communication, and professional and scientific services.
- Those six sections combined fell from 412,530 to 401,933 companies, a loss of 10,597, while their combined revenue rose from 32,570,686,507,619.30 to 37,900,957,626,802.55 baht, a gain of 16.37 percent.
- National filed company count fell from 729,128 to 714,157, a drop of 2.05 percent, while national revenue rose from 64,509,978,557,718.95 to 67,867,699,924,183.86 baht, a gain of 5.20 percent, confirming the shrink while growing pattern also holds economy wide.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- Bank of Thailand. (2025). Banking sector quarterly brief: Q3 2025. https://www.bot.or.th/content/dam/bot/documents/en/news-and-media/news/2025/news-20251118.pdf
Frequently asked questions
Which Thai industry lost the most registered companies while revenue grew?
Wholesale and retail trade, down 5,892 companies to 235,485, a 2.44 percent drop, while its revenue rose 18.2 percent to 33.50 trillion baht.
How many Thai industry sections lost companies overall?
Eleven of the eighteen industry sections with registry data filed fewer company statements for statement year 2568 than for 2567. Six of those eleven still grew their revenue in the same year.
Does a falling company count mean businesses are closing?
Not necessarily. The count measures how many companies filed a financial statement for that year, so mergers, consolidation into fewer larger filers, or filing delays can all lower it without any single company having shut down.
Cite this page
Chatpong L. (2026). Thai Industries Losing Companies as Revenue Grows 2026. Max Data Insights. https://maxdatathailand.com/insights/thai-industries-shedding-companies-while-revenue-grows-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.