Thai Industries With the Biggest Asset Gain 2015 to 2025, 2026
In short
Of every 100 baht of total assets added by Thai companies between 2015 and 2025, 44 came from financial and insurance. That section added 20.30 trillion baht, as of 14 August 2026. The economy-wide gain was 45.75 trillion baht. Manufacturing came second at 8.12 trillion baht. Wholesale and retail added 5.20 trillion baht. Construction added just 0.17 trillion baht.
Which industry sections added the most total assets?
Finance built the extra balance sheet. Financial and insurance companies went from 22.38 trillion baht of total assets in 2015 to 42.69 trillion baht in 2025, a gain of 20.30 trillion baht (DBD, 2026). Manufacturing added 8.12 trillion baht. Wholesale and retail trade added 5.20 trillion baht. Real estate added 3.51 trillion baht and finished a distant fourth. Those four sections together account for 81.2 percent of the 45.75 trillion baht added across the economy. The other 14 sections split the remaining 18.8 percent.
Total asset gain by industry section, 2015 to 2025
- Financial and insurance20
- Manufacturing8
- Wholesale and retail trade5
- Real estate4
- Professional, scientific and technical1
- Administrative and support1
- Education1
- Transportation and storage1
- Accommodation and food service1
- Electricity and gas1
- Information and communication1
- Human health and social work0
- Agriculture, forestry and fishing0
- Mining and quarrying0
- Construction0
- Water and waste0
- Arts and entertainment0
- Other services0
Figures in trillion baht added.
Finance alone out-gained manufacturing by a factor of 2.5. Construction and mining barely moved.
Every section ranked by baht gain
| Industry section | Assets 2015 | Assets 2025 | Gain | Share of gain | Multiple |
|---|---|---|---|---|---|
| Financial and insurance | 22 | 43 | 20 | 44.4% | 1.91x |
| Manufacturing | 13 | 21 | 8 | 17.8% | 1.62x |
| Wholesale and retail trade | 7 | 12 | 5 | 11.4% | 1.77x |
| Real estate | 5 | 8 | 4 | 7.7% | 1.77x |
| Professional, scientific and technical | 1 | 2 | 1 | 2.9% | 2.38x |
| Administrative and support | 1 | 2 | 1 | 2.8% | 2.23x |
| Education | 0 | 1 | 1 | 2.3% | 16.81x |
| Transportation and storage | 2 | 3 | 1 | 2.2% | 1.64x |
| Accommodation and food service | 1 | 2 | 1 | 2.0% | 1.84x |
| Electricity and gas | 1 | 2 | 1 | 1.9% | 1.71x |
| Information and communication | 1 | 2 | 1 | 1.6% | 1.51x |
| Human health and social work | 0 | 1 | 0 | 1.0% | 2.26x |
| Agriculture, forestry and fishing | 0 | 1 | 0 | 0.8% | 2.72x |
| Mining and quarrying | 1 | 1 | 0 | 0.4% | 1.22x |
| Construction | 2 | 2 | 0 | 0.4% | 1.08x |
| Water and waste | 0 | 0 | 0 | 0.2% | 1.86x |
| Arts and entertainment | 0 | 0 | 0 | 0.2% | 1.52x |
| Other services | 0 | 0 | 0 | 0.1% | 2.67x |
Total assets in trillion baht for statement years 2015 and 2025, gain, share of the economy-wide gain and growth multiple, as of 14 Aug 2026.
Who barely moved, and who grew from nothing
Construction is the quiet story. Its assets rose from 2.03 trillion baht to 2.20 trillion baht, a gain of 0.17 trillion baht. That is a multiple of 1.08, the weakest of any section. Mining grew from 0.93 trillion baht to 1.14 trillion baht, a multiple of 1.22. Information and communication managed 1.51 times. Education sits at the other pole. Its assets rose from 0.07 trillion baht to 1.12 trillion baht, a multiple of 16.81. That comes from a tiny base and from registry coverage widening over the decade. Ranking by baht rather than percentage keeps that small base from stealing the headline.
Why this matters
Baht gained is a better read on economic weight than growth rate, because it shows where capital actually piled up. Finance held 38.6 percent of registered assets in 2015. It held 41.1 percent in 2025. Manufacturing slipped from a 22.5 percent share to 20.4 percent over the same decade. Construction fell from 3.5 percent of assets to 2.1 percent. A supplier, lender or investor sizing Thai corporate demand should read that as a shift toward balance-sheet businesses and away from factories and building sites. The extra corporate balance sheet was mostly financial, and only partly productive capacity. A big balance sheet is not the same as a good business, so check section margins before chasing the biggest number.
Definitions
- Total assets
- Everything a company reports owning on its balance sheet at year end, including cash, loans made, inventory, property and equipment.
- Asset gain
- Total assets in 2025 minus total assets in 2015 for a section, measured in baht.
- Growth multiple
- Total assets in 2025 divided by total assets in 2015. A multiple of 2.00 means assets doubled.
- TSIC section
- One of 21 lettered industry groups in the Thai Standard Industrial Classification, such as K for financial and insurance.
- Nominal
- Measured in baht of each year, without adjusting for inflation.
Assumptions
- Statement year 2558 in the Buddhist calendar is treated as 2015 and 2568 as 2025.
- Each year counts the companies that filed a statement in that year, and filers rose from 479,172 to 714,157 in the section rollup, so some growth is coverage.
- Values are nominal baht with no inflation adjustment.
- Financial and insurance balance sheets hold customer deposits and policy reserves, so their assets are not comparable with a factory's productive capital.
- Households, section T, held only 10 million baht in 2015 and has no 2025 figure, so it is left out of the table.
Methodology
Total assets come from filed financial statements aggregated by five-digit TSIC code and statement year in the Department of Business Development registry, then rolled up to the lettered industry sections, where public administration and extraterritorial bodies report no assets, as of 14 August 2026. Statement years are recorded in the Buddhist calendar, so 2015 is year 2558 and 2025 is year 2568. The 2026 year is incomplete and excluded. Gain is 2025 assets minus 2015 assets in baht. Figures are nominal, not adjusted for inflation, and only cover companies that filed a statement in the given year, so the filer base is not identical across years.
How we verified this
- Section assets for 2015 sum to 58,001,501,637,334 baht against an all-code total of 58,001,501,637,336 baht, a rounding difference of 2 baht.
- Section assets for 2025 sum to 103,746,513,374,771 baht, matching the all-code total exactly.
- Economy-wide gain recomputed as 103,746,513,374,771 minus 58,001,501,637,336 equals 45,745,011,737,435 baht, about 45.75 trillion.
- Financial and insurance gain recomputed as 42,686,433,548,750 minus 22,384,769,725,152 equals 20,301,663,823,598 baht, which is 44.4 percent of 45.75 trillion.
- Top four gains of 20.30, 8.12, 5.20 and 3.51 trillion baht sum to 37.13 trillion, which is 81.2 percent of 45.75 trillion.
- Asset shares recomputed from section over total: finance 22.38 of 58.00 is 38.6 percent in 2015 and 42.69 of 103.75 is 41.1 percent in 2025, manufacturing 22.5 percent to 20.4 percent, construction 3.5 percent to 2.1 percent.
- Multiples recomputed as 2025 over 2015: construction 1.08, mining 1.22, education 16.81, finance 1.91.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
Frequently asked questions
Which Thai industry added the most total assets from 2015 to 2025?
Financial and insurance, with a gain of 20.30 trillion baht, or 44.4 percent of the economy-wide gain of 45.75 trillion baht.
Did real estate or manufacturing add more assets?
Manufacturing added 8.12 trillion baht and real estate added 3.51 trillion baht, so manufacturing added about 2.3 times as much.
Which sections barely grew?
Construction grew 1.08 times and mining 1.22 times, the two slowest multiples among sections with a large 2015 base.
Are these gains adjusted for inflation?
No. They are nominal baht, and the number of companies filing statements also rose, so part of the gain reflects wider registry coverage.
Cite this page
Chatpong L. (2026). Thai Industries With the Biggest Asset Gain 2015 to 2025, 2026. Max Data Insights. https://maxdatathailand.com/insights/thai-industry-sections-biggest-baht-gain-in-total-assets-2015-2025
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.
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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.