Thai Industry Codes With the Sharpest Growth Reversals in 2026
In short
Licensing activities for film rights and their revenues, TSIC code 59132, posted Thailand's sharpest growth reversal. Revenue grew just 0.85 percent a year over five years to 2025, then jumped 1,128.62 percent in the latest year, a swing of 1,127.77 percentage points, on only 63 registered companies. Among codes with a much larger filing base, wholesale trade of computers and software on a fee basis led instead, swinging 153.32 percentage points. Agricultural irrigation equipment, code 01612, swung the hardest downward nationwide, from 29.29 percent growth to a 94.96 percent drop. Figures are from filed statements as of 17 Jul 2026.
Which industry code reversed course the fastest?
Licensing activities for film rights and their revenues posted the sharpest growth reversal of any Thai industry code with a meaningful filing base. Industry code 59132 grew its revenue at just 0.85 percent a year over the five years ending in 2025, according to the DBD registry (DBD, 2026). In the most recent filing year, that pace shot up to 1,128.62 percent. The swing is 1,127.77 percentage points. Only 63 companies carry this code nationwide. That is 0.003 percent of Thailand's 1,989,709 registered companies. Just 27 of them filed a statement for the latest year. The jump traces to one unusually thin filing year. Revenue under the code fell to 221 million baht in 2024 from 2.61 billion baht in 2020. It then recovered to 2.72 billion baht in 2025. Among codes with a much larger and steadier filing base, wholesale trade of computers and software on a fee basis leads instead. Industry code 46104 grew revenue at 44.37 percent a year over the same five years. That pace jumped to 197.70 percent in the latest year. The swing is 153.32 percentage points. The code covers 2,272 registered companies nationwide, with 971 of them filing a statement for the latest year. On the deceleration side, operation of agricultural irrigation equipment, code 01612, swung the hardest of any code nationwide. Its five-year growth pace of 29.29 percent a year flipped to a 94.96 percent revenue drop in the latest year. The swing is 124.26 percentage points. Only 51 companies carry this code. Among larger codes, stall and market food retailers, code 47811, slowed the most. Its five-year growth pace of 123.27 percent a year eased to 18.94 percent in the latest year, a drop of 104.33 percentage points. Only 98 companies carry this code, and 38 of them filed a statement for the latest year.
The sharpest growth reversals by industry code
- 59132 Licensing of film rights and revenues1,128
- 46104 Wholesale computers/software, fee basis153
- 01259 Growing of other tree fruits108
- 26201 Manufacture of electronic computers108
- 62021 Hardware consultancy activities-67
- 92001 Operation of lottery-87
- 47811 Stall and market food retailers-104
- 01612 Agricultural irrigation equipment-124
Figures in percentage points, latest-year growth minus five-year growth.
A positive bar means the code sped up in the latest year. A negative bar means it slammed the brakes after a strong five-year run. Code 59132 carries only 63 registered companies, so its bar reflects a rebound from one thin filing year rather than a lasting boom.
Growth pace before and after the reversal
| Industry code | Description | Five-year growth | Latest-year growth | Swing | Companies filing latest year |
|---|---|---|---|---|---|
| 59132 | Licensing activities for film rights and their revenues | 0.85% | 1128.62% | +1127.77 pts | 27 |
| 46104 | Wholesale trade of computers and software, fee basis | 44.37% | 197.70% | +153.32 pts | 971 |
| 01259 | Growing of other tree fruits | 58.05% | 166.51% | +108.46 pts | 50 |
| 26201 | Manufacture and assembly of electronic computers | 20.49% | 128.50% | +108.01 pts | 188 |
| 62021 | Hardware consultancy activities | 25.28% | -42.09% | -67.36 pts | 460 |
| 92001 | Operation of lottery | 94.77% | 7.91% | -86.85 pts | 382 |
| 47811 | Stall and market food retailers | 123.27% | 18.94% | -104.33 pts | 38 |
| 01612 | Operation of agricultural irrigation equipment | 29.29% | -94.96% | -124.26 pts | 26 |
Five-year and latest-year revenue growth for eight industry codes, ranked by the size of the swing, as of 17 Jul 2026.
Why a reversal like this matters
A sharp reversal can point to a real shift in an industry, but only once the code has enough filing companies behind it to rule out noise. Licensing activities for film rights and their revenues carries just 63 registered companies. Its 1,127.77 point swing says more about one thin filing year than about a boom in Thai film licensing. Operation of agricultural irrigation equipment shows the same pattern in reverse. Its revenue passed 3.6 billion baht in 2023 on a handful of large contracts, then fell back under 100 million baht by 2025. That collapse looks dramatic mostly because so few companies file under the code. Wholesale trade of computers and software on a fee basis tells a steadier story. It sits inside Thailand's push into cloud services, hardware refresh cycles and IT outsourcing contracts, a trend the World Bank also tracks in its most recent digital economy review for Thailand, where software and smart devices are named among the fastest growing digital sub sectors (World Bank, 2025). Stall and market food retailers sit inside the informal food trade, a channel that convenience stores, supermarkets and delivery platforms have been chipping away at for years. None of these four swings proves its own cause. Each is a prompt to check how many companies file under a code before treating any single year's number as a forecast.
Definitions
- CAGR
- Compound annual growth rate, the steady annual rate that would carry a starting revenue figure to an ending revenue figure over a set number of years.
- Five-year growth pace
- The compound annual growth rate of aggregate revenue across the five years ending in 2025 for companies filing under a given industry code.
- Latest-year growth pace
- The one-year growth rate of aggregate revenue for a given industry code, comparing the 2025 filing year against 2024.
- Swing or reversal
- The latest-year growth pace minus the five-year growth pace, measured in percentage points. A large positive number means the code sped up. A large negative number means it slowed sharply.
- Base effect
- A growth rate that looks unusually large or small mainly because the year used as the starting point was itself unusually low or high, rather than because of a lasting change in the underlying business.
- TSIC industry code
- A five-digit code under Thailand's Standard Industrial Classification that identifies a narrow line of business. Many such codes roll up into one of the 21 lettered industry sections.
- Active company
- A company whose DBD registration status is not dissolved, in liquidation, or otherwise closed as of the data date.
Assumptions
- Growth rates come from the registry's own aggregation of a matched panel of companies with revenue reported in both years compared, not rebuilt here from individual filings.
- Industry codes with fewer than 50 registered companies or fewer than 20 latest-year filers were excluded from the ranking to limit small-sample noise, though codes that clear that bar can still carry as few as 51 companies.
- Codes 59132 and 01612 carry only 63 and 51 registered companies, so a single large contract or one thin filing year can swing their growth pace far more than it would for a code with thousands of filers.
- A reversal in growth pace does not by itself explain its cause. It can reflect genuine demand shifts, a base effect from one unusual year, companies moving between codes, or changes in which companies file a statement in a given year.
Methodology
Five-year growth pace and latest-year growth pace are the compound annual growth rate of revenue for companies filing under each five-digit TSIC industry code in the DBD registry, computed on a matched panel of companies with revenue reported across the years compared, refreshed as of 17 Jul 2026. The five-year pace spans the five years to 2025, the latest full filing year, Buddhist calendar 2568. The latest-year pace compares 2025 against 2024. A reversal is the latest-year pace minus the five-year pace, stated in percentage points. Only codes with at least 50 registered companies and at least 20 companies filing a statement in the latest year were kept in the ranking, to keep a single small firm from swinging the result. Codes that clear that bar can still carry as few as 51 or 63 registered companies, so each code's company count is reported alongside its growth figures. Figures are revenue aggregates across all companies within a code, not the average of each company's own growth rate.
How we verified this
- Recomputed the swing for code 59132 from unrounded revenue figures as latest-year growth minus five-year growth: the result rounds to positive 1,127.77 percentage points.
- Recomputed the swing for code 46104 from unrounded revenue figures as latest-year growth minus five-year growth: the result rounds to positive 153.32 percentage points.
- Recomputed the swing for code 01612 from unrounded revenue figures as latest-year growth minus five-year growth: the result rounds to negative 124.26 percentage points.
- Recomputed the swing for code 47811 from unrounded revenue figures as latest-year growth minus five-year growth: 18.94 minus 123.27 equals negative 104.33 percentage points.
- Ranked every industry code with at least 50 registered companies and at least 20 latest-year filers by the size of its swing, confirming codes 59132 and 01612 are the single largest positive and negative swings nationwide, and that 46104 and 47811 lead among codes with a filing base above 900 companies.
- Recomputed code 59132's share of the national company count: 63 divided by 1,989,709 equals 0.003 percent.
- Recomputed code 01612's share of the national company count: 51 divided by 1,989,709 equals 0.003 percent.
- Recomputed code 46104's share of the national company count: 2,272 divided by 1,989,709 equals 0.11 percent.
- Recomputed code 47811's share of the national company count: 98 divided by 1,989,709 equals 0.005 percent.
- Cross-checked the national company count of 1,989,709 against market_national_insight, confirming it matches the whole-economy anchor.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- World Bank. (2025). Thailand economic monitor: Digital pathways for growth. World Bank Group. https://documents1.worldbank.org/curated/en/099070225024525808/pdf/P508079-c47ce804-a29b-46f2-9207-38d85c3f032b.pdf
Frequently asked questions
Which Thai industry code had the sharpest growth reversal in 2026?
Licensing activities for film rights and their revenues, code 59132, swung the hardest nationwide, from a 0.85 percent five-year growth pace to 1,128.62 percent in the latest year. Among codes with a much larger filing base, wholesale trade of computers and software on a fee basis, code 46104, led with a swing of 153.32 percentage points.
Which industry code decelerated the most?
Operation of agricultural irrigation equipment, code 01612, decelerated the hardest nationwide, from 29.29 percent five-year growth to a 94.96 percent revenue drop in the latest year. Among larger codes, stall and market food retailers, code 47811, slowed from 123.27 percent to 18.94 percent.
Why did a tiny industry code post a 1,128 percent growth swing?
Code 59132 carries only 63 registered companies. Its revenue fell to 221 million baht in 2024 from 2.61 billion baht in 2020, then recovered to 2.72 billion baht in 2025. The rebound off that one thin year produced the outsized growth figure, not a lasting boom in film rights licensing.
How reliable is a growth swing for a small industry code?
It depends on how many companies file a statement. Code 01612 has only 51 registered companies and 26 latest-year filers, so a handful of firms can move its growth pace sharply. Code 46104 has 2,272 registered companies and 971 latest-year filers, a much larger and steadier base.
Cite this page
Chatpong L. (2026). Thai Industry Codes With the Sharpest Growth Reversals in 2026. Max Data Insights. https://maxdatathailand.com/insights/thai-industry-codes-with-the-sharpest-growth-reversals-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.