3 of Thailand's 21 Sectors Hold 74% of Corporate Assets (2026)
In short
Just three of Thailand's 21 industry sections hold an estimated 73.62 percent of the country's corporate asset base, as of 17 July 2026. Financial and insurance alone carries 36.16 percent of that total, more than the next two sections combined. Manufacturing adds 18.89 percent and wholesale and retail trade adds 18.57 percent. Those same three sections contain just 49.43 percent of the 1,986,489 companies with a classified industry section, so the concentration in assets runs well ahead of the concentration in company count. The other eighteen sections split what is left, 26.38 percent of the estimate.
How many industry sections hold most of Thailand's corporate assets?
Three sections answer the question. Financial and insurance, manufacturing, and wholesale and retail trade together hold an estimated 73.62 percent of the corporate asset base built from Thai companies with a filed balance sheet, as of 17 July 2026 (DBD, 2026). Financial and insurance alone carries 36.16 percent of that estimate, more than manufacturing and wholesale and retail trade combined. Add manufacturing's 18.89 percent and wholesale and retail trade's 18.57 percent and the three sections clear three quarters of every estimated baht sitting on a Thai company balance sheet. Two sections alone, financial and insurance and manufacturing, already pass the halfway mark at 55.05 percent. The other eighteen of Thailand's 21 lettered industry sections divide the remaining 26.38 percent among themselves. This is a section level story, distinct from a separate ranking on this site that found a single unnamed five digit industry code carrying more assets per firm than any other.
Where Thailand's estimated corporate assets sit
- Financial and insurance36.2%36
- Manufacturing18.9%19
- Wholesale and retail trade18.6%19
- All other 18 sections26.4%26
Three slices fill three quarters of the circle. The other eighteen sections share what remains.
Estimated corporate assets by industry section
| Industry section | Estimated assets (billion baht) | Share of total | Cumulative share | Companies with data |
|---|---|---|---|---|
| Financial and insurance | 46,625 | 36.16% | 36.16% | 25,720 |
| Manufacturing | 24,352 | 18.89% | 55.05% | 148,775 |
| Wholesale and retail trade | 23,939 | 18.57% | 73.62% | 424,646 |
| Real estate | 9,154 | 7.10% | 80.72% | 108,572 |
| Construction | 3,754 | 2.91% | 83.63% | 162,154 |
| Information and communication | 3,275 | 2.54% | 86.17% | 38,810 |
| Transportation and storage | 2,966 | 2.30% | 88.47% | 51,510 |
| Professional, scientific and technical | 2,788 | 2.16% | 90.63% | 99,165 |
| Administrative and support | 2,492 | 1.93% | 92.57% | 68,347 |
| Electricity and gas | 2,435 | 1.89% | 94.46% | 6,211 |
| Accommodation and food service | 2,384 | 1.85% | 96.31% | 59,330 |
| Mining and quarrying | 1,207 | 0.94% | 97.24% | 3,579 |
| Education | 1,146 | 0.89% | 98.13% | 10,012 |
| Agriculture, forestry and fishing | 867 | 0.67% | 98.80% | 12,067 |
| Human health and social work | 853 | 0.66% | 99.46% | 13,183 |
| Arts and entertainment | 307 | 0.24% | 99.70% | 13,177 |
| Water and waste | 259 | 0.20% | 99.90% | 3,528 |
| Other services | 125 | 0.10% | 100.00% | 13,933 |
| Public administration | 0 | 0.00% | 100.00% | 17 |
| Extraterritorial | 0 | 0.00% | 100.00% | 3 |
| Households | 0 | 0.00% | 100.00% | 11 |
All 21 TSIC industry sections, ranked by estimated total assets, as of 17 Jul 2026.
Why this matters
Scale and asset weight point in opposite directions across these three sections. Wholesale and retail trade holds 36.04 percent of every classified company in Thailand, the single biggest share of the register. Yet it carries only 18.57 percent of estimated assets. Financial and insurance runs the other way. It holds just 1.79 percent of classified companies. It still carries 36.16 percent of estimated assets. That works out to an average of about 1.81 billion baht in assets per reporting company. That average runs nearly 18 times the national figure of 102.1 million baht per company. A shock concentrated in a handful of large banks and insurers, or a small cluster of large manufacturers, can move the national asset base far more than a shock spread across the hundreds of thousands of small traders that dominate the register by headcount. International reviews of Thailand's capital markets have separately flagged how much of the corporate sector's weight sits with a comparatively small group of large firms (OECD, 2025). Anyone pricing counterparty risk, sizing a market, or reading Thailand's corporate sector as a single block should know that three sections out of twenty one are doing most of the balance sheet work.
Definitions
- Industry section
- One of the 21 lettered top level categories in Thailand's TSIC industry classification, such as financial and insurance or manufacturing, that groups related five digit industry codes.
- Estimated corporate asset base
- The sum, across all 21 industry sections, of each section's average total assets per reporting company multiplied by its count of reporting companies, used here because no single table reports one exact economy wide total assets figure by section.
- Companies with data
- Registered companies within a section that have a total assets figure on file from a filed balance sheet, as opposed to the full count of companies registered under that section.
- Concentration
- How unevenly a total is distributed across its parts. High concentration means a small number of sections or companies hold most of the total.
- Cumulative share
- The running total of a metric's share as sections are added one by one in ranked order, showing how quickly the total builds up.
Assumptions
- Total assets for a section are estimated by multiplying its average total assets per reporting company by its count of reporting companies, which assumes that average is representative of the full reporting population in that section.
- Only 1,262,750 of the 1,986,489 classified companies have the total assets data used in this estimate, so companies without a filed balance sheet figure are excluded entirely.
- Reporting companies do not all file for the same statement year, so this is a cross sectional structural estimate rather than a single year balance sheet total, and it differs in basis from a separate single statement year total assets figure published elsewhere on this site.
- Only the 21 lettered industry sections are used because the registry does not publish plain language names for five digit industry codes.
Methodology
Estimated total assets for each industry section is calculated as that section's average total assets per company with data, multiplied by the count of companies with data in that section, using figures from the DBD registry as recorded in the market_section_insight table as of 17 July 2026 (DBD, 2026). This is a structural estimate built from each company's most recently available filing, not a single statement year balance sheet total, since filings across companies do not all cover the same year. Only Thailand's 21 lettered TSIC industry sections are used, since the registry does not publish plain language names for the roughly 1,000 five digit codes beneath them. Company counts refer to the 1,986,489 companies with a classified industry section, of which 1,262,750 have the total assets data needed for this estimate.
How we verified this
- Each section's estimated total assets equals its average total assets per company with data multiplied by its companies with data. For financial and insurance, 1,812,807,182.175539 baht times 25,720 companies equals 46,625,400,725,555 baht.
- Summing this estimate across all 21 sections gives 128,928,460,906,714 baht. Financial and insurance's 46,625,400,725,555 baht divided by that total equals 36.16 percent.
- Manufacturing's 24,352,272,301,089 baht plus wholesale and retail trade's 23,939,211,312,259 baht plus financial and insurance's 46,625,400,725,555 baht equals 94,916,884,338,903 baht, which divided by 128,928,460,906,714 baht equals 73.62 percent.
- Financial and insurance plus manufacturing alone, 46,625,400,725,555 baht plus 24,352,272,301,089 baht, equals 70,977,673,026,644 baht, which is 55.05 percent of the total, confirming that two sections already pass half the estimate.
- The three sections' combined entity count, 35,567 plus 230,396 plus 715,976, equals 981,939. Divided by the 1,986,489 companies with a classified industry section, that is 49.43 percent, well under their 73.62 percent share of estimated assets.
- Entity counts across all 21 sections were summed to 1,986,489, matching the registry's count of companies with a classified industry section.
- Financial and insurance's average assets per company, 1,812,807,182.18 baht, divided by the national average of 102,101,335 baht per company, equals 17.75, confirming the nearly 18 times figure cited in the text.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- OECD. (2025). The corporate sector. In OECD capital market review of Thailand 2025. OECD Publishing. https://www.oecd.org/en/publications/oecd-capital-market-review-of-thailand-2025_0a975590-en/full-report/the-corporate-sector_008c96e5.html
Frequently asked questions
How many of Thailand's 21 industry sections hold most of its corporate assets?
Just three. Financial and insurance, manufacturing and wholesale and retail trade together hold an estimated 73.62 percent of corporate assets, as of 17 July 2026.
Which single section holds the most estimated assets?
Financial and insurance, at 36.16 percent of the estimated total, more than manufacturing and wholesale and retail trade combined.
How many sections does it take to pass half of all estimated assets?
Just two. Financial and insurance and manufacturing together reach 55.05 percent.
Do the sections with the most companies also hold the most assets?
No. Wholesale and retail trade holds 36.04 percent of classified companies but only 18.57 percent of estimated assets. Financial and insurance runs the opposite way, holding just 1.79 percent of companies yet 36.16 percent of estimated assets.
Cite this page
Chatpong L. (2026). 3 of Thailand's 21 Sectors Hold 74% of Corporate Assets (2026). Max Data Insights. https://maxdatathailand.com/insights/three-sectors-hold-most-of-thailands-corporate-assets-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.