Top 10 Companies vs Provinces vs Industry Codes: Revenue Share 2026
In short
The top 10 companies earn 13.53 percent of Thailand's reported revenue as of 17 July 2026. The top 10 industry codes earn 34.48 percent. The top 10 provinces earn 87.98 percent. Bangkok alone books 63.07 percent. The same ten-slot ladder runs from loose at the company level to extreme at the province level.
Where is Thai revenue most concentrated?
Place is the answer, not company size. The ten biggest provinces book 87.98 percent of the 80.15 trillion baht in reported revenue (DBD, 2026). The ten biggest industry codes book 34.48 percent. The ten biggest companies book 13.53 percent. Every rung of the ladder uses the same ten slots, so the gap is real. A reader who assumes a handful of giants run the economy is only partly right. A handful of addresses run it far more.
Revenue share held by the top 10 at three levels
- Top 10 companies14
- Top 10 industry codes34
- Top 10 provinces88
Figures in percent of national reported revenue.
Same ten slots, three different pools. The pools differ in size, so the ladder shows how revenue clusters, not a like-for-like market share.
The CR10 ladder
| Level | Pool | Top 10 revenue, billion baht | Share of national revenue | Rank 1 share |
|---|---|---|---|---|
| Top 10 companies | 10 of 1,264,734 reporting companies | 10,840.49 | 13.53% | 3.32% |
| Top 10 industry codes | 10 of 1,228 five-digit codes | 27,636.30 | 34.48% | 12.78% |
| Top 10 provinces | 10 of 78 province rows with revenue | 70,515.08 | 87.98% | 63.07% |
Combined revenue of the top 10 at each level, against national reported revenue of 80,146.50 billion baht.
Reading the three rungs
Start at the bottom. The largest company, Hua Seng Heng Commoditas, holds 3.32 percent on its own. The ten together hold 13.53 percent, and the fifth company is already down to 1.16 percent. Five of the ten are gold and bullion traders and four are energy names. Gold trading books gross turnover, so these revenue figures are large relative to profit. Now move up to industry codes. The top code, in wholesale and retail trade, holds 12.78 percent. Its neighbours in the top 10 sit in manufacturing, wholesale and finance. The tenth code still holds 1.30 percent. Then the top rung. Bangkok holds 63.07 percent, almost five times the share of the top industry code. The remaining nine provinces add 24.91 percent, led by the industrial belt around Bangkok and the east: Samut Prakan, Chon Buri and Rayong.
Top 10 companies by reported revenue
| Rank | Company | Revenue, billion baht | Share |
|---|---|---|---|
| 1 | Hua Seng Heng Commoditas | 2657.57 | 3.32% |
| 2 | PTT | 1848.43 | 2.31% |
| 3 | MTS Gold | 1432.28 | 1.79% |
| 4 | YLG Corporation | 1200.90 | 1.50% |
| 5 | YLG Bullion International | 927.97 | 1.16% |
| 6 | PTT Oil and Retail Business | 683.10 | 0.85% |
| 7 | Intergold Gold Trade | 610.44 | 0.76% |
| 8 | Thai Oil | 508.11 | 0.63% |
| 9 | PTT Global Chemical | 498.67 | 0.62% |
| 10 | CP ALL | 473.01 | 0.59% |
Revenue in billion baht and share of national reported revenue, company ranking computed 24 June 2026.
Top 10 provinces by reported revenue
| Rank | Province | Revenue, billion baht | Share |
|---|---|---|---|
| 1 | Bangkok | 50545.04 | 63.07% |
| 2 | Samut Prakan | 4821.55 | 6.02% |
| 3 | Chon Buri | 3811.07 | 4.76% |
| 4 | Rayong | 3200.47 | 3.99% |
| 5 | Pathum Thani | 2098.48 | 2.62% |
| 6 | Nonthaburi | 1619.06 | 2.02% |
| 7 | Phra Nakhon Si Ayutthaya | 1493.95 | 1.86% |
| 8 | Samut Sakhon | 1341.06 | 1.67% |
| 9 | Chachoengsao | 848.53 | 1.06% |
| 10 | Nakhon Pathom | 735.88 | 0.92% |
Revenue in billion baht by registered province, as of 17 Jul 2026.
Why this matters
Concentration shapes risk. A shock to any one company moves under 4 percent of reported revenue. A shock to Bangkok moves more than 63 percent. For a lender, a supplier or a policy team, the exposure that matters is geographic first, sectoral second and corporate last. The Bangkok figure also carries a registration effect. Firms book revenue where they register, and many run plants elsewhere, so the true spread of activity is wider than the headline. Even so, the direction is hard to argue with. If you want to understand where Thai money is booked, ignore the league tables of firms and read the map. Because the registry publishes no usable concentration index, this ladder is the clearest substitute: plain top 10 shares, recomputed from revenue.
Definitions
- CR10
- Concentration ratio for the top 10: the combined revenue of the ten largest units divided by total revenue.
- Reported revenue
- Revenue from filed financial statements. Companies that did not file are not counted.
- TSIC code
- Thailand Standard Industrial Classification, here at five digits.
- Registered province
- The province of a company's registered address, which may differ from where it operates.
Assumptions
- Only companies with a filed financial statement contribute revenue.
- The three rungs draw on pools of very different size, so the ladder shows clustering rather than equal comparison.
- Revenue is booked at the registered province, which favours Bangkok.
- Gross revenue of gold and energy traders overstates their weight relative to profit.
- The company ranking was computed 24 June 2026 and the other rungs 17 July 2026.
Methodology
Source: Department of Business Development registry aggregates, DBD, held by Max Data. Province and industry code revenue and national totals were computed on 17 July 2026. The company top 10 ranking was computed on 24 June 2026, so the three rungs are not from the exact same refresh. Revenue is the sum of reported revenue from filed financial statements, summed over the top 10 rows at each level and divided by national reported revenue of 80,146,498,562,463.62 baht. Industry codes are five-digit TSIC codes, which carry no names in the registry, so they are identified by section only. Province is the registered province. Company revenue is gross and can include intra-group sales.
How we verified this
- Top 10 company revenue sums to 10,840,486,258,090.01 baht. Divided by national revenue of 80,146,498,562,463.62 baht this is 13.53 percent.
- Top 10 province revenue sums to 70,515,084,196,474.92 baht. Divided by 80,146,498,562,463.62 baht this is 87.98 percent.
- Top 10 industry code revenue sums to 27,636,304,389,732.12 baht. Divided by 80,146,498,562,463.62 baht this is 34.48 percent.
- Bangkok 50,545,042,342,775.37 divided by 80,146,498,562,463.62 is 63.07 percent. The other nine provinces total 87.98 minus 63.07, which is 24.91 percent.
- Hua Seng Heng Commoditas 2,657,573,529,787.71 divided by national revenue is 3.32 percent. Top code 10,246,042,735,880.97 divided by national revenue is 12.78 percent.
- Sum of all 1,228 industry code rows and of all province rows both equal 80,081,498,171,717.56 baht, within 0.08 percent of the national total, so shares are stable to the second decimal against either denominator.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
Frequently asked questions
What share of Thai revenue do the top 10 companies hold?
13.53 percent, or 10,840.49 billion baht of 80,146.50 billion baht in national reported revenue.
Which province earns the most revenue?
Bangkok, with 50,545.04 billion baht, or 63.07 percent of national reported revenue.
Is this the same as a concentration index?
No. It is a plain top 10 share across three pools of different size, so it describes clustering, not market power inside one industry.
Why do gold traders appear among the top companies?
Bullion trading books the full value of metal sold as revenue, so turnover is large even when profit is thin.
Cite this page
Chatpong L. (2026). Top 10 Companies vs Provinces vs Industry Codes: Revenue Share 2026. Max Data Insights. https://maxdatathailand.com/insights/top-10-company-revenue-share-vs-top-10-province-and-top-10-code-share-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.