TSIC Codes With Thailand's Lowest Filing Rates in 2026
In short
TSIC 63120 discloses a financial statement for just 4.4 percent of its 1,392 registered companies, the lowest rate of any Thai industry code with at least 500 firms, as of 17 July 2026. That sits 39.1 percentage points below the 43.5 percent floor already set by mining and quarrying, the weakest of Thailand's 18 major sections. Two more codes, 11029 and 14131, file below 8 percent. Across all 413 five-digit codes with 500 or more companies, 150 file below the national rate of 63.6 percent. Section-level averages hide almost all of these worst performers.
Which five-digit code files the fewest financial statements?
TSIC 63120 discloses a financial statement for only 61 of its 1,392 registered companies, a filing rate of 4.4 percent, the lowest of any Thai industry code with at least 500 firms as of 17 July 2026 (DBD, 2026). It sits inside section J, information and communication, where the section-wide filing rate runs at 73.9 percent. That leaves TSIC 63120 sitting 69.5 percentage points below the average for its own peers. Three more codes barely clear single digits. TSIC 11029 files at 6.7 percent across 2,783 firms. TSIC 14131 files at 7.1 percent across 771 firms. TSIC 49321 files at 8.6 percent across 5,227 firms. A previously published analysis of Thailand's 18 major industry sections found mining and quarrying at the bottom, filing at 43.5 percent. Every one of these four five-digit codes files well below that section-level floor. Dropping to the five-digit level does not just add more names to a list. It finds a cluster of codes where non-disclosure is closer to universal than exceptional.
Filing rate for the ten lowest five-digit industry codes
- 63120 (J)4
- 11029 (C)7
- 14131 (C)7
- 49321 (H)9
- 66301 (K)13
- 02100 (A)18
- 15201 (C)19
- 47511 (G)20
- 46316 (G)21
- 01411 (A)24
Figures in percent of companies with a filed financial statement.
Every code shown here files below one company in four. TSIC 63120 files below one in twenty.
The 12 five-digit codes with the lowest filing rates
| TSIC code | Section | Companies with data | Total companies | Filing rate |
|---|---|---|---|---|
| 63120 | J, Information and communication | 61 | 1,392 | 4.4% |
| 11029 | C, Manufacturing | 186 | 2,783 | 6.7% |
| 14131 | C, Manufacturing | 55 | 771 | 7.1% |
| 49321 | H, Transportation and storage | 451 | 5,227 | 8.6% |
| 66301 | K, Financial and insurance | 280 | 2,085 | 13.4% |
| 02100 | A, Agriculture | 126 | 706 | 17.8% |
| 15201 | C, Manufacturing | 173 | 901 | 19.2% |
| 47511 | G, Wholesale and retail trade | 1,331 | 6,753 | 19.7% |
| 46316 | G, Wholesale and retail trade | 491 | 2,334 | 21.0% |
| 01411 | A, Agriculture | 181 | 749 | 24.2% |
| 07299 | B, Mining and quarrying | 741 | 2,865 | 25.9% |
| 96305 | S, Other services | 193 | 632 | 30.5% |
Restricted to codes with 500 or more registered companies, ranked lowest to highest, as of 17 Jul 2026.
Why a five-digit floor matters more than a section floor
A section-level average is a blend. Section K, financial and insurance, files at 72.3 percent overall, a rate that reads as solid and well regulated. Buried inside that same section sits TSIC 66301, which files at just 13.4 percent across 2,085 companies. Section G, wholesale and retail trade, files at 59.3 percent overall, yet it contains two codes, 47511 and 46316, that file below one in five. The pattern repeats down the list. None of the twelve worst five-digit codes belong to a single section. They scatter across information and communication, manufacturing, transportation, finance, agriculture, retail, mining and other services. What they share is scale without disclosure. TSIC 63120 alone carries 1,392 registered companies and only 79 of them, 5.7 percent, even show as active in the registry, close to the code's own filing rate. A company that has gone quiet without formally deregistering will not file a statement either. Under Thai law a registered entity that files nothing for three consecutive years can be struck from the register, so a code this thin on filings is also a code carrying real deregistration risk across its base (AO Group, 2026). For anyone screening counterparties, suppliers or acquisition targets by industry code rather than by section letter, the section average would have hidden every one of these codes.
Definitions
- TSIC code
- A five-digit code from the Thailand Standard Industrial Classification, the country's version of the international ISIC system, assigned to each registered company to describe its primary business activity.
- Filing rate
- The share of companies in a group that have a financial statement on file with the registrar, out of all registered companies in that group.
- Industry section
- One of the 21 lettered top level categories in the TSIC system, such as section J for information and communication, made up of many five-digit codes.
- Active company
- A company whose most recent registry status shows it as operating rather than dormant, dissolved or struck off.
Assumptions
- The 500-company threshold was chosen so the filing rate is not driven by a handful of firms, and it excludes the majority of five-digit codes by count while retaining 95.0 percent of companies by volume.
- A missing financial statement reflects what is on file with the registrar. It does not by itself prove a company broke a filing deadline or is currently inactive.
- Five-digit industry names are not published because the source description field is empty for this level of classification, so codes are reported numerically alongside their parent section.
- Section-level comparison figures were recomputed on the same 17 July 2026 refresh as the five-digit figures and may differ slightly from an earlier section-level analysis run on 7 July 2026 data.
Methodology
Filing rate is the count of companies with a filed financial statement, companies_with_data, divided by the count of registered companies, entity_count, for each five-digit TSIC industry code in market_tsic_insight, drawn from the DBD registry as of 17 July 2026. The ranking is restricted to codes with 500 or more registered companies, 413 of Thailand's 1,228 five-digit codes, so the ratio is not driven by a handful of firms. Those 413 codes cover 1,887,454 companies, 95.0 percent of all 1,986,709 companies carrying a five-digit code. The description_en field for five-digit codes is not populated in the source table, so codes are identified by their numeric TSIC value and section letter rather than by an industry name. The section-level comparison figures, including the mining and quarrying floor, are recomputed fresh from market_section_insight as of the same date and may differ by a few tenths of a point from an earlier section-level analysis run on 7 July 2026 data, reflecting the registry's normal periodic refresh.
How we verified this
- TSIC 63120 filing rate recomputed as 61 divided by 1392, equal to 4.38 percent, rounded to 4.4 percent, confirmed as the minimum among all codes with entity_count of 500 or more.
- Gap to the mining floor recomputed as 43.48 minus 4.38, equal to 39.1 percentage points, using mining's fresh section figure of 3579 divided by 8231.
- Gap to TSIC 63120's own section recomputed as 73.87 minus 4.38, equal to 69.5 percentage points, using section J's figure of 38810 divided by 52537.
- National filing rate recomputed as 1264734 divided by 1989709, equal to 63.56 percent, rounded to 63.6 percent, from market_national_insight.
- Count of codes with 500 or more companies confirmed as 413 by direct count, and 150 of those 413 were confirmed to file below the national filing rate of 63.56 percent by direct count, equal to 36.3 percent of the 413 codes.
- Coverage share recomputed as 1887454 divided by 1986709, equal to 95.0 percent of all companies carrying a five-digit TSIC code.
- Each of the twelve ranked filing rates in the table was independently recomputed as companies_with_data divided by entity_count and matched the value shown.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- AO Group. (2026). Thailand DBD financial statement filing deadlines and penalties guide. https://ao-group.co/blog/filing-financial-statements-with-the-dbd-in-thailand/
Frequently asked questions
Which Thai industry code has the lowest financial statement filing rate?
TSIC 63120, in section J, information and communication, files a statement for just 4.4 percent of its 1,392 registered companies as of 17 July 2026, the lowest rate of any code with 500 or more firms.
How does this compare to the lowest section-level filing rate?
Mining and quarrying is the weakest of Thailand's 18 major sections at 43.5 percent. TSIC 63120 files 39.1 percentage points below that section floor, and three other five-digit codes also file below it.
Why does a code with a high section average still have such a low code hiding inside it?
Section averages blend many codes together. Section K, financial and insurance, files at 72.3 percent overall, yet TSIC 66301 inside that section files at only 13.4 percent. The blend hides the outlier.
Does a missing filing mean a company broke the law?
Not automatically. Some filings simply lag their deadline. But a registered entity that files nothing for three consecutive years can be struck from the register, so a code with a 4.4 percent filing rate also carries a high concentration of deregistration risk.
Cite this page
Chatpong L. (2026). TSIC Codes With Thailand's Lowest Filing Rates in 2026. Max Data Insights. https://maxdatathailand.com/insights/thai-industry-codes-that-rarely-file-financial-statements-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.