Thai Industry Codes With Six Straight Years of Revenue Growth 2026
In short
Only 59 of 966 fully reported Thai industry codes grew revenue in every year from 2020 to 2025, about 6.1 percent. Together they earned 13.58 trillion baht in 2025. That is 3.77 times their 2019 revenue. All 966 codes combined grew only 1.41 times. Data as of 14 August 2026.
Which Thai industries never had a down year?
Very few. Of 966 five-digit industry codes with a filed statement in every year from 2019 to 2025, just 59 posted higher revenue each year than the year before. That is 6.11 percent of the codes (DBD, 2026). Thirty-five of those 59 kept at least 100 filers in every single year, so the streak is not an artifact of a handful of companies. The pandemic year did the sorting. Total revenue across all 966 codes fell 8.55 percent in 2020, and only these 59 codes grew straight through it.
Revenue of the 59 steady-growth codes
Figures in trillion baht.
Reported revenue summed across the 59 codes that rose every year. The curve steepens after 2021.
Small in number, big in weight
The 59 codes earned 3.60 trillion baht in 2019. By 2025 they earned 13.58 trillion. Their share of revenue among the 966 codes went from 7.49 percent to 20.01 percent. Growth was uneven. The steepest jump came in 2022 at 41.8 percent. Another came in 2024 at 39.3 percent. Then 2020 added only 11.2 percent and 2021 added 9.8 percent. All 966 codes together rose 41.2 percent over the six years. The winners rose about 277 percent, roughly seven times as fast.
Where the 59 steady growers sit
| Industry section | Codes with six straight growth years |
|---|---|
| Manufacturing | 15 |
| Wholesale and retail trade | 15 |
| Information and communication | 8 |
| Agriculture, forestry and fishing | 5 |
| Financial and insurance | 4 |
| Transportation and storage | 3 |
| Professional, scientific and technical | 3 |
| Human health and social work | 2 |
| Mining and quarrying | 1 |
| Construction | 1 |
| Administrative and support | 1 |
| Other services | 1 |
Count of codes with six straight years of revenue growth, by industry section, as of 14 Aug 2026.
Why this matters
Average growth hides how rare steady growth is. A lender or investor who sees a sector up 41 percent over six years may assume every corner of it climbed. The registry says otherwise. Manufacturing and trade supply 30 of the 59 steady codes. Information and communication adds 8 more steady codes. If you want a market where a bad year did not happen, start from this short list and then check the filer count. A code with 12 filers can grow for six years on one customer. A code with 100 or more filers has a much sturdier base.
Definitions
- TSIC code
- Thailand Standard Industrial Classification, a five-digit code that assigns each company to an activity.
- Fully reported code
- A code with a filed statement showing revenue above zero in every year from 2019 to 2025.
- Steady grower
- A fully reported code whose summed revenue rose in each year compared with the year before.
- Filer
- A company that filed a financial statement for the year in question.
- Aggregate
- A sum across all companies in a code or section, not an average of company figures.
Assumptions
- Revenue is nominal baht, so inflation helps every code's growth.
- Summed revenue can rise because more companies filed, not only because each grew.
- Codes with few filers can show a streak from one or two companies.
- The 966 codes cover companies that filed in all seven years and do not equal the national total.
Methodology
Source: the Department of Business Development registry of filed financial statements, aggregated by 5-digit TSIC code and statement year, with rows computed on 14 August 2026 and cited as of that date. Statement years are Buddhist calendar years converted to Gregorian, so 2562 to 2568 means 2019 to 2025. A code is fully reported if it has revenue above zero in all seven years. A code counts as a steady grower if revenue rose in each of the six year-on-year steps from 2020 to 2025. Year 2026 is excluded as incomplete. Revenue is the sum of filed revenue, so late filers can move a year slightly.
How we verified this
- 59 of 966 codes is 6.11 percent, recomputed as 59 divided by 966.
- Section counts 15+15+8+5+4+3+3+2+1+1+1+1 sum to 59, matching the total.
- Winner revenue 13.58 trillion divided by 3.60 trillion is 3.77, using unrounded sums 13,580.33 and 3,601.38 billion.
- All-code revenue 67,854.23 billion divided by 48,051.68 billion is 1.412, a 41.2 percent rise.
- Winner share of all-code revenue: 3,601.38 over 48,051.68 is 7.49 percent, and 13,580.33 over 67,854.23 is 20.01 percent.
- All-code 2020 change: 43,943.40 over 48,051.68 is 0.9145, a fall of 8.55 percent.
- Winner year-on-year changes recomputed: 2020 +11.2, 2021 +9.8, 2022 +41.8, 2023 +18.0, 2024 +39.3, 2025 +32.5 percent.
- Manufacturing 15 plus wholesale and retail 15 equals 30 of 59 codes.
- Winner six-year rise is 3.771 minus 1, or 277 percent, against 41.2 percent for all codes, a ratio of 6.7.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates [Data set]. Ministry of Commerce, Thailand. https://www.dbd.go.th/
Frequently asked questions
How many Thai industry codes grew revenue every year from 2020 to 2025?
59 of 966 fully reported five-digit codes, or 6.11 percent, as of 14 August 2026.
Do the steady growers have enough companies to trust?
35 of the 59 had 100 or more filers in every year from 2019 to 2025. The other 24 had at least one thinner year.
Why is 2019 the starting year?
Growth in 2020 needs a 2019 base, so seven years of data produce six growth steps.
Can I see which industries the codes are?
Not by name. The registry table carries no English descriptions for five-digit codes, so the page reports them by section.
Cite this page
Chatpong L. (2026). Thai Industry Codes With Six Straight Years of Revenue Growth 2026. Max Data Insights. https://maxdatathailand.com/insights/thai-industry-codes-with-six-straight-years-of-revenue-growth-2019-2025-2026
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.
Related insights
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.