Thai Industry Codes Adding the Most Revenue, 2024 to 2025
In short
TSIC code 47732 added 2.42 trillion baht of revenue between 2024 and 2025, the largest one-year gain in the registry as of 14 August 2026. Code 46621 came second with 2.04 trillion baht. Together the top ten added 6.14 trillion baht. Seven of the ten sit in wholesale and retail trade and three in manufacturing. Across all 997 comparable codes, total revenue rose 5.2 percent.
Which industry codes added the most revenue in one year?
Code 47732 added the most revenue of any five-digit TSIC code between statement years 2024 and 2025, a gain of 2.42 trillion baht (DBD, 2026). Its reported revenue climbed from 6.43 trillion to 8.85 trillion baht, up 37.7 percent. Code 46621 took second place with 2.04 trillion baht, and its revenue more than doubled, rising 138.0 percent. Code 46492 followed at 719.41 billion baht. The fourth place gain, 342.90 billion baht, was already less than a sixth of the leader's. This is a league table with two giants and a long tail.
Top ten revenue gains by TSIC code, 2024 to 2025
- TSIC 477322,423
- TSIC 466212,044
- TSIC 46492719
- TSIC 46900343
- TSIC 26201151
- TSIC 26209130
- TSIC 47912100
- TSIC 4610491
- TSIC 2610971
- TSIC 4669970
Figures in billion baht added.
Codes 47732 and 46621 alone account for 4.47 trillion baht. The remaining eight codes together add 1.68 trillion.
The top ten league table
| Rank | TSIC code | Section | 2024 revenue | 2025 revenue | Gain | Change |
|---|---|---|---|---|---|---|
| 1 | 47732 | Wholesale and retail trade | 6,425.04 | 8,848.37 | 2,423.33 | 37.7% |
| 2 | 46621 | Wholesale and retail trade | 1,481.08 | 3,525.38 | 2,044.30 | 138.0% |
| 3 | 46492 | Wholesale and retail trade | 1,880.01 | 2,599.42 | 719.41 | 38.3% |
| 4 | 46900 | Wholesale and retail trade | 622.55 | 965.46 | 342.90 | 55.1% |
| 5 | 26201 | Manufacturing | 117.15 | 267.69 | 150.54 | 128.5% |
| 6 | 26209 | Manufacturing | 374.27 | 503.83 | 129.56 | 34.6% |
| 7 | 47912 | Wholesale and retail trade | 227.14 | 327.41 | 100.27 | 44.1% |
| 8 | 46104 | Wholesale and retail trade | 45.96 | 136.82 | 90.86 | 197.7% |
| 9 | 26109 | Manufacturing | 460.74 | 531.74 | 71.00 | 15.4% |
| 10 | 46699 | Wholesale and retail trade | 137.29 | 207.06 | 69.77 | 50.8% |
Revenue by five-digit TSIC code in statement years 2024 and 2025, billion baht, ranked by absolute gain, as of 14 Aug 2026.
What the section mix of the top ten says
Seven of the ten biggest gainers belong to wholesale and retail trade. Those seven added 5.79 trillion baht, which is 94.3 percent of the top ten total. The other three belong to manufacturing and added 351.10 billion baht, or 5.7 percent. No other section reaches the list. The result fits a basic fact about trading businesses. They book the full value of goods sold, so a few large trading groups can move a code's revenue by hundreds of billions in a single year. A percentage view tells a different story. Code 46104 gained only 90.86 billion baht, yet that was a rise of 197.7 percent.
Gains are only half the picture
Not every code grew. Of the 997 codes with figures in both years, 466 gained revenue and 530 lost it. The gains summed to 7.20 trillion baht and the losses to 3.84 trillion baht. The net change was 3.36 trillion baht, which lifted total revenue from 64.51 to 67.87 trillion baht, a rise of 5.2 percent. The top ten gains therefore equal 183 percent of the net change. Without the losing codes, the economy would look far hotter than it did. Read the league table as a map of where growth concentrated, not as a measure of how fast Thailand grew.
Why this matters
A one-year view answers a different question than the decade rankings. It shows where money moved last, not where it moved over time. Anyone sizing a market should check whether a leading code is a broad base of firms or a few very large filers. Code 46621 has only 2,070 registered companies and still added over two trillion baht, so a handful of filers likely drive it. Single-year jumps of this size can reverse. Before building a sales plan on a hot code, pair this table with its survival and margin figures. The gain tells you where to look. It does not tell you the code is a safe place to compete.
Definitions
- TSIC
- Thailand Standard Industrial Classification. A five-digit code assigns each company to a detailed activity, grouped into lettered sections.
- Absolute gain
- Revenue in 2025 minus revenue in 2024 for a code, in baht, without adjusting for size.
- Statement year
- The year a financial statement covers. The registry stores it in the Buddhist calendar, so 2567 equals 2024 and 2568 equals 2025.
- Aggregate
- A total over all companies in a group, here every filer in a TSIC code.
Assumptions
- Only companies that filed a statement in a given year count toward that year, so coverage changes can move a code's total.
- Revenue is nominal baht and is not adjusted for inflation.
- Very large filers can drive a code's change, so a high gain does not mean broad growth across its firms.
- Codes missing in either year are excluded from the comparison.
Methodology
Source: the Department of Business Development registry, aggregated by five-digit TSIC code and statement year, with data computed on 14 August 2026 and section labels joined from the code-level table computed on 17 July 2026. Statement years use the Buddhist calendar, so 2567 is 2024 and 2568 is 2025. Gain is 2025 revenue minus 2024 revenue, summed over companies that filed in each year. Only the 997 codes with figures in both years are compared. Section mix is the share of the top ten gain total. Year 2569 is excluded because it is incomplete. Revenue for a code can swing when a few large filers report late or are reclassified, so treat single-year gains as indicative.
How we verified this
- Top ten gains summed from the table: 2,423.33 + 2,044.30 + 719.41 + 342.90 + 150.54 + 129.56 + 100.27 + 90.86 + 71.00 + 69.77 = 6,141.94 billion baht, matching the 6.14 trillion stated.
- Positive gains across 997 codes total 7,202.01 billion baht. Top ten share is 6,141.94 / 7,202.01 = 85.3 percent.
- Wholesale and retail codes sum to 2,423.33 + 2,044.30 + 719.41 + 342.90 + 100.27 + 90.86 + 69.77 = 5,790.84 billion baht. 5,790.84 / 6,141.94 = 94.3 percent. Manufacturing 351.10 / 6,141.94 = 5.7 percent.
- Net change: 7,202.01 minus 3,844.00 = 3,358.01 billion baht, equal to 67,867.23 minus 64,509.22. Growth is 3,358.01 / 64,509.22 = 5.2 percent. Top ten over net change is 6,141.94 / 3,358.01 = 183 percent.
- Code 47732 growth: 8,848.37 / 6,425.04 minus 1 = 37.7 percent. Code 46621: 3,525.38 / 1,481.08 minus 1 = 138.0 percent. Top two sum 4,467.63 billion baht, leaving 1,674.31 for the other eight.
- Counts: 466 gaining plus 530 losing codes equals 996, so one code had no change, consistent with 997 compared.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates by TSIC code and year. Ministry of Commerce, Thailand. https://www.dbd.go.th/
Frequently asked questions
Which Thai industry code added the most revenue from 2024 to 2025?
TSIC code 47732, in wholesale and retail trade, added 2.42 trillion baht, from 6.43 to 8.85 trillion baht (DBD, 2026).
Which section dominates the top ten gainers?
Wholesale and retail trade holds seven of ten places and 94.3 percent of the top ten gain. Manufacturing holds the other three.
Did total revenue across industry codes rise?
Yes. Across 997 comparable codes, revenue rose 5.2 percent, from 64.51 to 67.87 trillion baht, even though 530 codes lost revenue.
Why are five-digit codes not named?
The registry extract carries no English description for five-digit codes, so the page reports the code and its section only.
Cite this page
Chatpong L. (2026). Thai Industry Codes Adding the Most Revenue, 2024 to 2025. Max Data Insights. https://maxdatathailand.com/insights/thai-industry-codes-adding-the-most-revenue-in-the-latest-year-2024-2025
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.