Thailand's Thinnest Revenue-per-Company Industry Codes, 2026
In short
Twelve Thai industry codes, each carrying between 519 and 4,945 registered companies, average less than 3 million baht in revenue per firm as of 17 July 2026. The thinnest is code 01121 in the agriculture section, where 983 registered companies average just 735,776 baht each, about 1.16 percent of the national average filer. Three of the twelve codes sit in agriculture, three in information and communication, and three in professional and technical services. Combined, the twelve codes lost money outright, posting a net margin of negative 8.33 percent on 24.32 billion baht of revenue.
Which industry codes generate the least revenue per company?
Twelve five digit TSIC codes in Thailand carry between 519 and 4,945 registered companies each and still average less than 3 million baht in revenue per firm (DBD, 2026). The thinnest of the group is code 01121, an agriculture section code with 983 registered companies, where the average firm brings in just 735,776 baht a year. That is 1.16 percent of the 63.37 million baht the average filing company earns nationwide. Put another way, the typical Thai company earns 86 times more than the typical firm registered under code 01121. Three of these twelve codes sit in agriculture, three sit in information and communication, and three sit in professional and technical services, so this is not confined to one part of the economy. Out of the 413 industry codes nationwide with at least 500 registered companies, only these twelve fall below the 3 million baht line while keeping a company count between 500 and 5,000. That is 2.9 percent of the eligible codes, a genuine long tail rather than a rounding error.
What these thin codes have in common
Low revenue does not always mean high failure. Code 85410, in the education section, survives at 99.5 percent, the highest rate in the group, even though its average company earns only 2.57 million baht. Code 63120 sits at the other extreme. Only 61 of its 1,392 registered companies filed a financial statement. Its survival rate is just 5.7 percent, so its reported negative 56.34 percent net margin rests on a thin and possibly unrepresentative base. Code 59201 survives at only 20.7 percent. Code 74200 survives at 38.4 percent. Both sit in categories where a large share of registered firms have already gone inactive. Combined, the 12,629 companies across these twelve codes that filed a statement produced 24.32 billion baht in total revenue. They lost 2.03 billion baht at the bottom line. That works out to a combined net margin of negative 8.33 percent. A large registered company count in a Thai industry code says nothing about whether that code is a good place to do business.
Average revenue per company, by industry code
- 01121, agriculture1
- 60101, info and comm1
- 71202, professional and technical2
- 74901, professional and technical2
- 63120, info and comm2
- 85410, education3
- 01289, agriculture3
- 90001, arts and entertainment3
- 55102, accommodation and food service3
- 01139, agriculture3
- 74200, professional and technical3
- 59201, info and comm3
Figures in million baht average revenue per company.
All twelve codes sit under the 3 million baht line. Code 01121 in agriculture is barely a fifth of the next lowest code.
The 12 lowest revenue-per-company industry codes
| TSIC code | Section | Registered companies | Filed a statement | Avg revenue per company | Net margin | Survival rate |
|---|---|---|---|---|---|---|
| 01121 | A, agriculture | 983 | 705 | 735,776 baht | 12.72% | 70.1% |
| 60101 | J, info and comm | 4,945 | 4,065 | 1,276,133 baht | -18.98% | 43.4% |
| 71202 | M, professional and technical | 1,157 | 941 | 2,009,449 baht | 1.96% | 74.6% |
| 74901 | M, professional and technical | 1,162 | 794 | 2,029,089 baht | -0.47% | 48.3% |
| 63120 | J, info and comm | 1,392 | 61 | 2,475,942 baht | -56.34% | 5.7% |
| 85410 | P, education | 1,436 | 1,243 | 2,566,891 baht | 1.74% | 99.5% |
| 01289 | A, agriculture | 1,820 | 1,241 | 2,568,880 baht | -34.84% | 81.0% |
| 90001 | R, arts and entertainment | 755 | 541 | 2,620,084 baht | -6.95% | 70.6% |
| 55102 | I, accommodation and food service | 1,235 | 903 | 2,701,941 baht | 4.31% | 45.1% |
| 01139 | A, agriculture | 519 | 351 | 2,711,751 baht | -26.92% | 69.4% |
| 74200 | M, professional and technical | 2,796 | 1,485 | 2,840,379 baht | 1.55% | 38.4% |
| 59201 | J, info and comm | 769 | 299 | 2,992,727 baht | 2.18% | 20.7% |
Codes with 500 to 5,000 registered companies, ranked by average revenue per company, as of 17 Jul 2026.
Why this matters
These twelve codes matter because size in a company registry is not the same as economic weight. Nearly 19,000 companies are registered under these codes, yet together they add up to a rounding error against Thailand's 80.15 trillion baht in aggregate reported revenue. Anyone using company counts alone to judge how big or attractive a Thai industry is will be misled by codes like these. A franchise scout, a lender pricing sector risk, or a policymaker deciding where to target support all need the revenue-per-company view, not the registration count, to see where real economic activity concentrates. Thailand's broader small business base tells a similar story at the macro level. Small and medium enterprises account for roughly 70 percent of national employment yet only about a third of GDP (OSMEP, 2023). These twelve codes look like the sharpest edge of that same pattern sitting inside the corporate registry.
Definitions
- TSIC code
- Thailand's five digit Standard Industrial Classification code, the national version of the international ISIC system. Each code rolls up into one of 21 lettered industry sections.
- Average revenue per company
- Total reported revenue for a code divided by the number of registered companies in that code that filed a financial statement showing revenue, not the average of all registered companies including those that never filed.
- Net margin
- Aggregate net profit divided by aggregate revenue for a code. A negative net margin means the group of companies lost money in total.
- Survival rate
- The share of registered companies in a code that are still marked active rather than dissolved or inactive in the registry.
- Filer
- A registered company that has submitted at least one financial statement to the registry, as opposed to a company that is registered but has never filed.
- Aggregate
- A figure summed or combined across every company in a group, rather than an average of each company's individual ratio.
Assumptions
- Averages are based only on companies that filed a financial statement, not on every registered company in a code.
- Code 63120's net margin is drawn from only 61 filers out of 1,392 registered companies and should be read as a thin sample rather than a stable industry figure.
- Figures reflect the DBD registry as computed on 17 July 2026 and will shift as more companies file or close.
- 5 digit TSIC codes are identified here by code number and one letter section only, since official sub industry descriptions are not populated at this level in the source data.
- The 500 to 5,000 company range was chosen to compare codes of a similar size, so a small number of larger low revenue codes, such as a real estate services code with over 16,000 registrations, are intentionally excluded.
Methodology
Figures come from the Department of Business Development company registry, aggregated by 5 digit TSIC industry code as of 17 July 2026. Average revenue per company is the total reported revenue for a code divided by the number of registered companies in that code that filed a financial statement showing revenue. The ranking covers codes with between 500 and 5,000 registered companies so it compares codes of a similar size, and it excludes a small number of much larger codes, including one real estate services code with more than 16,000 registrations, that would otherwise dominate the list on scale alone. Codes where fewer than a tenth of registered companies filed a statement, such as code 63120, carry a wider margin of error and are flagged directly in the text. Official English and Thai descriptions are not populated for individual 5 digit codes in this data, so codes are identified by code number and by their one letter industry section only.
How we verified this
- Filtered market_tsic_insight to entity_count between 500 and 5,000 with avg_revenue under 3,000,000 baht and confirmed exactly 12 codes qualify, matching a direct count query.
- Summed entity_count across the 12 qualifying codes by hand, 983 plus 4,945 plus 1,157 plus 1,162 plus 1,392 plus 1,436 plus 1,820 plus 755 plus 1,235 plus 519 plus 2,796 plus 769 equals 18,969, and confirmed it against a SQL sum of the same rows.
- Recomputed the combined average revenue across the 12 codes as total revenue divided by total filers: 24,324,970,493.40 / 12,629 = 1,926,120 baht, versus 63,370,241 baht nationally, a 32.9 times gap.
- Recomputed the combined net margin for the 12 codes as total net profit divided by total revenue: -2,027,310,792.09 / 24,324,970,493.40 = -8.33 percent.
- Recomputed code 01121's share of the national average filer as 735,775.56 / 63,370,241.14 = 1.16 percent, and the inverse ratio as 63,370,241.14 / 735,775.56 = 86.1 times.
- Confirmed 413 industry codes nationwide carry an entity_count of 500 or more, so the 12 flagged codes are 12/413 = 2.9 percent of that eligible set.
- Checked market_national_insight directly: total_entities 1,989,709, companies_with_data 1,264,734, total_revenue 80,146,498,562,463.62 baht, all consistent with the 2026-07-17 computed_at timestamp on the queried rows.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- Office of Small and Medium Enterprise Promotion. (2023). Situation report of MSMEs in 2023. OSMEP, Thailand. https://old.sme.go.th/upload/mod_download/download-20230904173524.pdf
Frequently asked questions
Which Thai industry code has the lowest average revenue per company?
Code 01121, in the agriculture section, with 983 registered companies averaging just 735,776 baht in revenue per firm, the lowest among codes with between 500 and 5,000 registered companies.
How many Thai industry codes fall below 3 million baht in average revenue per company?
Twelve codes, each with between 519 and 4,945 registered companies, average less than 3 million baht in revenue per firm, out of 413 codes nationwide with at least 500 registered companies.
Are these low revenue industry codes also unprofitable?
Combined, the twelve codes lost 2.03 billion baht against 24.32 billion baht in revenue, a net margin of negative 8.33 percent, though survival rates inside the group range from 5.7 percent to 99.5 percent.
Why are specific 5 digit industries not named in this data?
The registry aggregation used here does not populate an official English or Thai description for individual 5 digit TSIC codes, so each code is identified by its number and its one letter section only.
Cite this page
Chatpong L. (2026). Thailand's Thinnest Revenue-per-Company Industry Codes, 2026. Max Data Insights. https://maxdatathailand.com/insights/thailands-smallest-revenue-per-company-industry-codes-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.
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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.