Thailand's Company Count vs Revenue by Province 2026
In short
Almost always, and the relationship is about as tight as real economic data gets. Company count and revenue correlate at 0.987 across Thailand's 77 provinces, Bangkok included, as of 17 July 2026. That squares to 97.5 percent, so company count alone statistically explains most of how revenue varies province to province. Four provinces still report three to five times the revenue their company count would predict. Phuket and Chiang Mai report barely a fifth of what their company count would predict. Registering a company is not the same as running one that earns money.
Does a Thai province with more registered companies always earn more revenue?
Almost always, and the relationship is about as tight as real economic data gets. Company count and total revenue correlate at 0.987 across the 77 provinces in Thailand's company registry, Bangkok included, as of 17 July 2026 (DBD, 2026). Squared, that correlation comes out to 97.5 percent, meaning company count alone statistically accounts for nearly all of how revenue varies from province to province. A province that registers more companies almost always books more revenue than a province that registers fewer. The pattern is not perfect, and the gaps are where the real story sits. Four provinces report three to five times the revenue that a province with their company count would typically earn. Two more provinces report barely a fifth of what their company count would predict. Registering a company is not the same as running one that earns money.
Actual revenue versus the typical revenue for a province that size
- Prachin Buri420
- Rayong344
- Phra Nakhon Si Ayutthaya277
- Chachoengsao248
- Lampang-55
- Mae Hong Son-63
- Chiang Mai-68
- Phuket-68
Figures in percent above or below the typical revenue for that many companies.
Zero means a province earns exactly what its company count would typically predict nationally. The eastern industrial belt and Ayutthaya sit far above that line. Thailand's two biggest tourism hubs sit far below it.
Provinces that break the pattern most
| Province | Companies | Actual revenue | Typical revenue for that size | Actual vs typical |
|---|---|---|---|---|
| Prachin Buri | 8,073 | 652.2 billion baht | 125.4 billion baht | 5.20x |
| Rayong | 33,083 | 3.20 trillion baht | 720.7 billion baht | 4.44x |
| Phra Nakhon Si Ayutthaya | 20,425 | 1.49 trillion baht | 396.3 billion baht | 3.77x |
| Chachoengsao | 13,799 | 848.5 billion baht | 243.7 billion baht | 3.48x |
| Lampang | 10,371 | 76.5 billion baht | 171.0 billion baht | 0.45x |
| Mae Hong Son | 1,569 | 6.1 billion baht | 16.4 billion baht | 0.37x |
| Chiang Mai | 65,164 | 528.7 billion baht | 1.67 trillion baht | 0.32x |
| Phuket | 52,557 | 404.4 billion baht | 1.28 trillion baht | 0.32x |
Company count, actual revenue, and the revenue typical for that company count, as of 17 Jul 2026.
Why the exceptions matter more than the rule
The four provinces that beat their size run on heavy industry. Prachin Buri, Rayong, Phra Nakhon Si Ayutthaya and Chachoengsao sit inside or beside the Eastern Economic Corridor, where petrochemical plants, auto parts factories and industrial estates pack enormous revenue into a comparatively small roster of registered firms. Together those four provinces hold 75,380 companies, just 3.79 percent of the national total. Yet they generate 6.20 trillion baht in revenue, 7.73 percent of the national total. Phuket and Chiang Mai run the opposite economy. Together they hold 117,721 companies, 56 percent more than the four industrial provinces combined. Yet they earn only 933.2 billion baht, less than a sixth of what those four industrial provinces earn. Average revenue per company in the industrial group runs about 82.2 million baht. Average revenue per company in Phuket and Chiang Mai runs about 7.9 million baht. That is roughly a fifth of the national average of 40.3 million baht per company. The National Economic and Social Development Council separately ranks Rayong, Chonburi, Chachoengsao and Ayutthaya among the five highest provinces nationally for gross regional product per person, a finding that lines up closely with what the revenue side of the company registry shows here (NESDC, 2024). Anyone reading a province's company count as a stand in for its economic output will overrate Phuket and Chiang Mai and underrate the industrial belt around Bangkok's eastern edge, by several multiples in either direction. Company registrations count doors opened. Revenue counts what happens behind them.
Definitions
- Pearson correlation coefficient
- A statistic ranging from negative 1 to positive 1 that measures how closely two measures move together across a group, provinces in this case. A value near positive 1 means the two measures rise and fall together almost in lockstep.
- r squared
- The correlation coefficient multiplied by itself, expressed as a percent, showing how much of the variation in one measure is statistically explained by the other.
- Typical revenue for that size
- The revenue a province would be expected to earn given its company count, estimated by fitting a curve to the relationship between company count and revenue across all 77 provinces. It is a statistical expectation, not a target.
- Revenue per company
- A province's total revenue divided by its registered company count, a rough measure of average company size in revenue terms.
- Overperform or underperform
- Shorthand used here for whether a province's actual revenue sits above or below the typical revenue its company count would predict, not a judgment of any individual company.
Assumptions
- The analysis covers the 77 provinces carrying a named province label in the registry, 76 provinces plus Bangkok, representing 99.82 percent of registered companies and 99.89 percent of reported revenue nationally. Two unlabeled rows in the province table, holding a small remainder of companies, are excluded.
- Total revenue reflects only companies that filed a financial statement, while company counts include every registered company regardless of filing status, so provinces with lower filing rates may understate their true revenue.
- Province is the registered address on file for each company, which can differ from where its actual plant, office or operations sit, a pattern common to large industrial estates.
- The typical revenue for a given company count is a statistical fit across all 77 provinces, not an official government estimate, and can shift as new financial statements are filed.
Methodology
Company counts and total reported revenue for all 77 named Thai provinces, Bangkok included, are drawn from the DBD registry aggregate table for provinces as of 17 July 2026. The correlation coefficient and its square are computed directly on the paired count and revenue values for those 77 provinces. Because province size ranges from under 2,000 companies to over 800,000, a power curve is fitted to the logarithm of both values across all 77 provinces to estimate the revenue typical for a province with any given company count, rather than a straight line that would be distorted by that range. Each province's actual revenue is then compared against that typical figure to flag provinces earning far more or far less than their company count would predict. Total revenue only reflects companies that filed a financial statement, so companies that registered but never filed are counted in company totals but not in revenue.
How we verified this
- Pearson correlation recomputed by hand from the 77 paired province values of entity_count and total_revenue gives r equal to 0.987314, which rounds to 0.987, and r squared equal to 0.974765, which rounds to 97.5 percent.
- A power curve fitted to the log of entity_count and the log of total_revenue across the same 77 provinces gives a slope of 1.2400 and an intercept of 14.3992, so predicted revenue equals e to the 14.3992 power times entity_count raised to 1.2400.
- Prachin Buri's ratio was recomputed as its actual revenue of 652,245,888,905.77 baht divided by its predicted revenue of 125,361,781,004.10 baht, equal to 5.2029, rounded to 5.20 and to a plus 420.3 percent deviation.
- Phuket's ratio was recomputed as its actual revenue of 404,446,017,570.47 baht divided by its predicted revenue of 1,279,414,739,066.97 baht, equal to 0.3161, rounded to 0.32 and to a minus 68.4 percent deviation. Chiang Mai's ratio was recomputed the same way at 0.3165, rounded to 0.32 and a minus 68.3 percent deviation.
- The four industrial provinces were summed to 75,380 companies and 6,195,196,974,653.82 baht in revenue, equal to 3.79 percent of the national company total of 1,989,709 and 7.73 percent of the national revenue total of 80,146,498,562,463.62 baht.
- Phuket and Chiang Mai were summed to 117,721 companies and 933,165,425,020.96 baht in revenue. 117,721 divided by 75,380 equals 1.56, confirming the 56 percent larger company count, while 6,195,196,974,653.82 divided by 933,165,425,020.96 equals 6.64, confirming the industrial group earns more than six times as much despite fewer companies.
- Average revenue per company was recomputed for each group: 6,195,196,974,653.82 divided by 75,380 equals about 82.19 million baht for the industrial four, and 933,165,425,020.96 divided by 117,721 equals about 7.93 million baht for Phuket and Chiang Mai, which is 19.7 percent of the national average of 80,146,498,562,463.62 divided by 1,989,709, or about 40.28 million baht per company.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates by province. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- National Economic and Social Development Council. (2024). Gross regional and provincial product (GPP) report. NESDC, Office of the Prime Minister, Thailand. https://www.nesdc.go.th/en/info/gross-regional-and-provincial-product-gpp/
Frequently asked questions
Do more registered companies in a Thai province always mean more revenue?
Nearly always. Company count and total revenue correlate at 0.987 across Thailand's 77 provinces as of 17 July 2026, one of the tightest relationships found anywhere in the registry, though a small handful of provinces break the pattern sharply.
Which provinces earn far more revenue than their company count would predict?
Prachin Buri, Rayong, Phra Nakhon Si Ayutthaya and Chachoengsao, all inside or beside the Eastern Economic Corridor, earn between 3.48 and 5.20 times the revenue a province with their company count would typically produce.
Which provinces earn far less revenue than their company count would predict?
Phuket and Chiang Mai, Thailand's two biggest tourism hubs, each earn about a third of the revenue their company count would typically produce, at ratios of 0.32.
How is the typical revenue for a province's size calculated?
A curve is fitted to the relationship between company count and revenue across all 77 provinces, using a power law rather than a straight line because province size ranges from under 2,000 companies to more than 800,000. Each province's actual revenue is then compared against what that curve predicts for its company count.
Cite this page
Chatpong L. (2026). Thailand's Company Count vs Revenue by Province 2026. Max Data Insights. https://maxdatathailand.com/insights/thailands-company-count-revenue-correlation-by-province-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.