Top 10 Companies vs Bottom 38 Thai Provinces, Revenue 2026
In short
Thailand's ten largest companies reported a combined 10.84 trillion baht in revenue, 5.84 times the 1.85 trillion baht earned by the bottom 38 of the country's 77 provinces combined, as of 17 July 2026. Those ten firms alone hold 13.53 percent of all reported company revenue nationwide. The bottom 38 provinces, home to 160,577 registered companies, hold just 2.31 percent. Ten firms outweigh half the country's provincial map.
How does the revenue of Thailand's 10 largest companies compare to its bottom 38 provinces combined?
Thailand's ten largest companies reported a combined 10.84 trillion baht in revenue, against 1.85 trillion baht for the 38 lowest revenue provinces put together, as of 17 July 2026 (DBD, 2026). That gap works out to 5.84 times. Ten balance sheets, not even a full page of the company registry, outweigh the combined output of nearly half the country. The ten companies alone hold 13.53 percent of all reported company revenue nationwide. The bottom 38 provinces, spread across more than 160,000 registered companies, hold just 2.31 percent. Scale in Thai business concentrates in a small number of firms far more than it spreads across geography.
Combined revenue: top 10 companies versus bottom 38 provinces
- Top 10 companies11
- Bottom 38 provinces2
Figures in trillion baht.
Ten companies report nearly six times the combined revenue of 38 provinces, just under half of Thailand's 77.
The 38 lowest revenue provinces, ranked
| Rank | Province | Revenue, billion baht | Registered companies |
|---|---|---|---|
| 1 | Mae Hong Son | 6 | 1,569 |
| 2 | Bueng Kan | 18 | 2,326 |
| 3 | Amnat Charoen | 21 | 2,288 |
| 4 | Satun | 25 | 2,110 |
| 5 | Trat | 26 | 3,331 |
| 6 | Phayao | 28 | 4,408 |
| 7 | Uthai Thani | 29 | 2,099 |
| 8 | Nan | 30 | 3,928 |
| 9 | Yasothon | 35 | 3,633 |
| 10 | Sukhothai | 36 | 3,758 |
| 11 | Narathiwat | 36 | 4,158 |
| 12 | Phatthalung | 37 | 4,218 |
| 13 | Phrae | 37 | 4,158 |
| 14 | Ranong | 39 | 2,651 |
| 15 | Ang Thong | 40 | 2,894 |
| 16 | Nong Bua Lam Phu | 41 | 2,904 |
| 17 | Nong Khai | 45 | 5,715 |
| 18 | Phang-nga | 46 | 4,027 |
| 19 | Yala | 46 | 3,909 |
| 20 | Nakhon Phanom | 47 | 4,673 |
| 21 | Nakhon Nayok | 51 | 2,996 |
| 22 | Loei | 51 | 4,793 |
| 23 | Uttaradit | 51 | 3,747 |
| 24 | Sing Buri | 52 | 2,306 |
| 25 | Kalasin | 54 | 5,780 |
| 26 | Pattani | 54 | 3,500 |
| 27 | Maha Sarakham | 56 | 6,897 |
| 28 | Samut Songkhram | 57 | 2,468 |
| 29 | Mukdahan | 58 | 3,472 |
| 30 | Chaiyaphum | 70 | 6,728 |
| 31 | Phetchabun | 73 | 6,626 |
| 32 | Phichit | 74 | 4,322 |
| 33 | Sakon Nakhon | 75 | 6,831 |
| 34 | Lampang | 77 | 10,371 |
| 35 | Sa Kaeo | 80 | 4,861 |
| 36 | Chai Nat | 80 | 2,897 |
| 37 | Si Sa Ket | 86 | 6,497 |
| 38 | Phetchaburi | 92 | 6,728 |
Revenue and registered companies by province, as of 17 Jul 2026.
Why this matters
This comparison exposes two different kinds of concentration in Thailand's economy. One is corporate. Ten firms, a mix of gold bullion traders and PTT group energy companies, book enough revenue on their own to rival the combined output of dozens of provinces. The other is geographic. Thirty eight provinces, most of them upcountry and agricultural, together generate a small fraction of what Bangkok or the port and factory provinces east of it produce alone. Neither pattern is a flaw in the data. Revenue booked by a handful of large companies does not spread evenly across the map, and provinces with fewer people and less industry will always report lower revenue than provinces built around factories, ports and head offices. The comparison still matters for anyone weighing where growth and investment actually sit in Thailand. A single merger among the top ten, or a swing in gold prices, would move the national revenue total more than a decade of steady growth in most of the bottom 38 provinces combined.
Definitions
- Reported revenue
- The latest filed revenue a company submitted to the registry. Companies that never filed a financial statement contribute nothing to this figure.
- Bottom 38 provinces
- The 38 of Thailand's 77 named provinces, Bangkok included, with the lowest combined company revenue, ranked from the lowest total up.
- Combined revenue
- The sum of filed revenue across every company that shares a group, such as the ten largest companies or the companies registered in a single province.
- Registered company
- A juristic person recorded in the Department of Business Development registry, whether or not it has filed a financial statement.
Assumptions
- The top 10 company ranking snapshot is dated 24 June 2026 while the province and national tables are dated 17 July 2026, about three weeks apart.
- A small number of company records carry no listed province and are excluded from every province figure in this analysis.
- Gold trading revenue reflects transaction turnover, not profit, so the top 10 figure should not be read as a measure of ten companies' economic footprint.
- Province revenue reflects where a company is registered, not necessarily where its economic activity takes place.
Methodology
Company revenue is the latest filed revenue reported to Thailand's Department of Business Development registry, drawn from the top 10 company ranking snapshot dated 24 June 2026. Province revenue is the sum of filed revenue for companies registered in each province, drawn from the province aggregate table refreshed 17 July 2026. Bottom 38 provinces means the 38 provinces with the lowest combined revenue among the 77 named provinces in the registry, with Bangkok counted as one of the 77. A small number of company records with no listed province are excluded from both the province count and the province revenue total, so the comparison uses only the 77 named provinces.
How we verified this
- Summed the ten revenue values queried from market_trends_insight, metric revenue, ranks 1 through 10: 2,657,573,529,787.71 plus 1,848,428,895,849 plus 1,432,282,101,427.76 plus 1,200,903,620,319.29 plus 927,971,294,787.42 plus 683,096,998,995 plus 610,436,700,644.83 plus 508,114,726,308 plus 498,669,009,231 plus 473,009,380,740 equals 10,840,486,258,090.01 baht.
- Sorted market_province_insight by total_revenue ascending, dropped the two rows with no province name, and summed the 38 lowest values, Mae Hong Son through Phetchaburi: the total is 1,854,740,745,976.11 baht.
- Divided the top 10 sum by the bottom 38 sum: 10,840,486,258,090.01 divided by 1,854,740,745,976.11 equals 5.8447, which rounds to 5.84 times.
- Divided the bottom 38 sum by the national total revenue of 80,146,498,562,463.62 baht from market_national_insight: the result is 0.023142, or 2.31 percent.
- Divided the top 10 sum by the same national total: the result is 0.135258, or 13.53 percent.
- Summed the entity_count column for the same 38 provinces: 160,577 registered companies. Divided by the national registered company count of 1,989,709, the result is 0.0807, or 8.07 percent.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- Office of the National Economic and Social Development Council. (2026). National accounts: Gross regional and provincial product. https://www.nesdc.go.th/en/info/national-accounts/
Frequently asked questions
How does the revenue of Thailand's 10 largest companies compare to its bottom 38 provinces combined?
Thailand's ten largest companies reported 10.84 trillion baht in combined revenue as of 17 July 2026, 5.84 times the 1.85 trillion baht earned by the 38 lowest revenue provinces combined.
How many provinces does Thailand have?
77, including Bangkok. The bottom 38 sit just under half of that total, ranked by combined company revenue.
Which province anchors the top of the bottom 38?
Phetchaburi, at about 91.7 billion baht, is the highest revenue province that still falls inside the bottom 38. Mae Hong Son, at about 6.1 billion baht, is the lowest of all 77.
Why do ten companies outweigh so many provinces combined?
National revenue concentrates heavily in a handful of very large firms, several of them gold bullion traders whose revenue reflects trading turnover rather than an economic footprint tied to any one province.
Cite this page
Chatpong L. (2026). Top 10 Companies vs Bottom 38 Thai Provinces, Revenue 2026. Max Data Insights. https://maxdatathailand.com/insights/thailands-top-10-companies-vs-bottom-38-provinces-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.