Thai Industry Revenue Doubling Time 2007 to 2025, 2026 Data
In short
Water and waste doubled its reported revenue fastest, in 7.7 years between 2007 and 2025. Human health followed at 7.8 years and wholesale and retail at 8.1. Manufacturing is the laggard at 20.1 years, because its revenue grew only 1.86 times in 18 years. The 18 sections together grew 2.85 times, a doubling every 11.9 years. All figures come from the registry as of 14 August 2026.
Which Thai industries double their revenue fastest?
Water and waste doubles fastest. Its reported revenue rose from 23.0 billion baht in 2007 to 117.0 billion in 2025, a multiple of 5.08 (DBD, 2026). At that pace revenue doubles every 7.7 years. Human health and social work is a close second at 7.8 years. Wholesale and retail trade is third at 8.1 years, and that sector already held 7.15 trillion baht in 2007. At the slow end, manufacturing needed 20.1 years, and financial and insurance 16.9. I use endpoint ratios on purpose. The registry shows an unusual revenue spike in 2018 as coverage expanded, so any single mid-period year would mislead.
Years to double revenue by industry section
- Water and waste8
- Human health and social work8
- Wholesale and retail trade8
- Education9
- Other services9
- Arts and entertainment9
- Accommodation and food service9
- Agriculture, forestry and fishing9
- Administrative and support11
- Electricity and gas11
- Transportation and storage13
- Construction15
- Professional, scientific and technical15
- Mining and quarrying16
- Information and communication16
- Real estate17
- Financial and insurance17
- Manufacturing20
Figures in years to double, 2007 to 2025.
Shorter bars compound faster. Doubling time is 18 years times the natural log of 2, divided by the natural log of the 2025 to 2007 revenue ratio.
Revenue endpoints and doubling time
| Industry section | 2007 revenue, bn baht | 2025 revenue, bn baht | Revenue multiple | Doubling time, years |
|---|---|---|---|---|
| Water and waste | 23.0 | 117.0 | 5.08x | 8 |
| Human health and social work | 96.2 | 475.3 | 4.94x | 8 |
| Wholesale and retail trade | 7,154.5 | 33,500.1 | 4.68x | 8 |
| Education | 12.6 | 54.0 | 4.27x | 9 |
| Other services | 16.2 | 66.9 | 4.13x | 9 |
| Arts and entertainment | 28.8 | 117.5 | 4.08x | 9 |
| Accommodation and food service | 213.5 | 809.5 | 3.79x | 9 |
| Agriculture, forestry and fishing | 97.9 | 367.2 | 3.75x | 9 |
| Administrative and support | 297.8 | 955.3 | 3.21x | 11 |
| Electricity and gas | 211.3 | 667.1 | 3.16x | 11 |
| Transportation and storage | 693.1 | 1,772.6 | 2.56x | 13 |
| Construction | 769.1 | 1,772.7 | 2.31x | 15 |
| Professional, scientific and technical | 392.0 | 891.1 | 2.27x | 15 |
| Mining and quarrying | 189.6 | 419.9 | 2.22x | 16 |
| Information and communication | 432.9 | 950.0 | 2.19x | 16 |
| Real estate | 511.2 | 1,088.3 | 2.13x | 17 |
| Financial and insurance | 1,291.2 | 2,700.4 | 2.09x | 17 |
| Manufacturing | 11,354.2 | 21,142.9 | 1.86x | 20 |
Reported revenue in billions of baht for statement years 2007 and 2025, as of 14 Aug 2026. Sections O, T and U lack data at both endpoints and are excluded.
Why this matters
A doubling time turns a vague claim of growth into a clock. A sector that doubles in eight years gives a lender, a supplier or a landlord a very different planning horizon than one that doubles in twenty. Manufacturing is the sharpest case. It is still the second largest section here at 21.1 trillion baht in 2025, yet it has barely compounded. The fast sectors are mostly services built on domestic demand, such as health, trade, education and water. Read this as registry growth, not pure market growth. The number of filing companies also rose, for example by 1.58 times in manufacturing and 7.59 times in human health. Part of the speed in the fast sectors is more firms reporting, and part is real demand. Either way, the sectors a business bets on decide how fast its own revenue base can rise.
Definitions
- Doubling time
- The number of years a quantity needs to double at its average compound rate, computed here as 18 times ln 2 divided by ln of the end over start ratio.
- Revenue multiple
- Reported revenue in 2025 divided by reported revenue in 2007 for the same section.
- TSIC section
- One of the lettered top-level groups of the Thailand Standard Industrial Classification, for example C for manufacturing.
- Nominal baht
- Baht values as reported, with no adjustment for inflation.
- Aggregate
- A total summed across all filing companies in a section, not an average.
Assumptions
- Growth in registry revenue mixes real growth, inflation and a rising number of companies that file.
- Only two endpoint years are used, so paths between them, including the 2018 spike, are ignored.
- Sections O, T and U are excluded for lack of data at both endpoints.
- Companies that did not file in a given year are absent from that year.
Methodology
Revenue is the sum of reported total revenue across all 5-digit TSIC codes in each industry section, for statement years 2007 and 2025, from the Department of Business Development registry as of 14 August 2026. Statement years are stored in the Buddhist calendar, so 2550 maps to 2007 and 2568 maps to 2025. Year 2026 is excluded as incomplete. Only the two endpoint years are used, to avoid the 2018 coverage spike. Doubling time equals 18 times ln 2 divided by ln of the revenue ratio. Values are nominal baht, not adjusted for inflation, and include growth in the number of filers.
How we verified this
- Water and waste: 117,047,397,699.70 divided by 23,045,465,996.70 equals 5.08. Doubling time 18 x 0.6931 / ln 5.08 equals 7.7 years.
- Human health: 475.30 bn divided by 96.24 bn equals 4.94, giving 7.8 years.
- Wholesale and retail: 33,500.07 bn divided by 7,154.46 bn equals 4.68, giving 8.1 years.
- Manufacturing: 21,142.88 bn divided by 11,354.19 bn equals 1.86, giving 20.1 years, which exceeds the 18 year window, so manufacturing had not yet doubled.
- Sum of the 18 sections: 23.79 trillion baht in 2007 and 67.87 trillion in 2025, a ratio of 2.85 and a doubling time of 11.9 years.
- Filer counts recomputed: manufacturing 82,520 over 52,114 equals 1.58, human health 9,243 over 1,218 equals 7.59.
- Query rows carry computed_at 2026-08-14, newer than the 2026-07-07 anchor in the data guide, so the page uses 14 August 2026 as the as-of date.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates by TSIC industry and statement year. Ministry of Commerce, Thailand. https://www.dbd.go.th/
Frequently asked questions
Which Thai industry section doubled its revenue fastest?
Water and waste, in 7.7 years, as its revenue rose 5.08 times from 2007 to 2025 (DBD, 2026).
Which sector had not doubled by 2025?
Manufacturing. Its revenue grew 1.86 times, short of 2, so the implied doubling time of 20.1 years runs past the 18 year window.
Why not use the peak revenue year?
The registry shows an unusual spike in 2018 as coverage expanded, so endpoint years give a steadier comparison.
Is the growth adjusted for inflation?
No. Figures are nominal baht, so part of every multiple reflects rising prices.
Cite this page
Chatpong L. (2026). Thai Industry Revenue Doubling Time 2007 to 2025, 2026 Data. Max Data Insights. https://maxdatathailand.com/insights/thai-industry-sections-revenue-doubling-time-2007-2025
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.