Top 5-Digit TSIC Codes by Total Revenue in Thailand 2026
In short
TSIC 47732, a code the registry itself carries no name for, reports 10.25 trillion baht in combined revenue, more than any other 5-digit Thai industry code. Its 11,820 reporting companies rule out a tiny sample fluke behind that number. External classification records match the code to retail jewellery, which fits its leading filer, a gold trading company. The second placed code, petroleum refining, trails by 6.52 trillion baht. Together the top ten 5-digit codes hold 34.48 percent of the nation's entire reported revenue while covering just 3.48 percent of the companies that filed a statement.
Which 5-digit industry code earns the most total revenue in Thailand?
Ranked by total baht rather than by margin or headcount, TSIC 47732 stands alone at 10.25 trillion baht in combined revenue as of 17 Jul 2026 (DBD, 2026). That single code equals 12.78 percent of every baht of revenue reported across Thailand's entire company registry. It sits inside section G, wholesale and retail trade, and on its own accounts for 26.45 percent of that section's revenue. The database carries no description for 5-digit codes, so the code cannot be named directly from the registry, yet the published national classification list matches 47732 to retail sale of jewellery, and its leading filer is a gold trading company, which fits. Petroleum refining under TSIC 19201 ranks second at 3.73 trillion baht, a gap of 6.52 trillion baht behind the leader. Two more codes tied to gold and precious metal trading, 46621 and 46492, take third and fourth place, followed by automotive, banking and retail codes that each still clear one trillion baht.
Total revenue by top 10 5-digit TSIC codes
- 4773210,246
- 192013,729
- 466213,544
- 464922,736
- 293091,577
- 451011,363
- 291021,221
- 641911,129
- 469001,052
- 473001,039
Figures in billion baht revenue.
The leading code alone is worth nearly three second place codes combined. Gold and jewellery trading fills three of the top four spots.
The top 10 5-digit TSIC codes by total revenue
| TSIC code | Section | Revenue (billion baht) | Companies with filed data | Registered companies | Leading filer |
|---|---|---|---|---|---|
| 47732 | G, wholesale and retail trade | 10246.04 | 11,820 | 15,036 | Hua Seng Heng Commoditas Company Limited |
| 19201 | C, manufacturing | 3728.79 | 238 | 309 | PTT Public Company Limited |
| 46621 | G, wholesale and retail trade | 3544.49 | 1,009 | 2,070 | MTS Gold Company Limited |
| 46492 | G, wholesale and retail trade | 2736.14 | 3,743 | 8,561 | Y L G Bullion International Company Limited |
| 29309 | C, manufacturing | 1576.59 | 2,638 | 3,461 | Mitsubishi Motors (Thailand) Co., Ltd. |
| 45101 | G, wholesale and retail trade | 1362.99 | 5,699 | 10,006 | Isuzu Motors International Operations (Thailand) Co., Ltd. |
| 29102 | C, manufacturing | 1221.40 | 157 | 328 | Toyota Motor Thailand Company Limited |
| 64191 | K, financial and insurance | 1129.11 | 19 | 19 | Bangkok Bank Public Company Limited |
| 46900 | G, wholesale and retail trade | 1051.58 | 11,094 | 17,775 | CP Axtra Public Company Limited |
| 47300 | G, wholesale and retail trade | 1039.16 | 7,560 | 7,924 | Petroleumthai Corporation Ltd. |
Total revenue, filing companies and leading filer per 5-digit TSIC code, as of 17 Jul 2026.
Why an unnamed code worth 10 trillion baht matters
A revenue leaderboard answers a different question than a profit or headcount leaderboard. TSIC 47732 does not lead on net margin, its aggregate margin is a razor thin 0.08 percent, and it does not lead on company count either. It leads because gold and jewellery trading books the full resale value of the metal as revenue on every transaction, so volume turns into enormous top line numbers even when the markup is tiny. That single fact explains why three of the top four revenue codes here trace back to gold, bullion or jewellery trading rather than to manufacturing giants or banks. For anyone building a market size estimate, a credit model or a competitive map of Thailand from public registry data, ranking by total revenue without checking margin and filer count first is a fast way to overstate how large or how attractive an industry code actually is. The ten codes here hold over a third of the country's revenue, yet the companies inside them are anything but typical of the wider economy.
Definitions
- TSIC code
- Thailand Standard Industrial Classification code. A 5-digit number that identifies a company's specific industry activity, based on the International Standard Industrial Classification revision 4.
- Total revenue
- The sum of reported revenue across every company in a code that filed a financial statement, not an average of individual company revenue.
- Industry section
- One of 21 broad letter categories, such as G for wholesale and retail trade, that groups many 5-digit TSIC codes together.
- Leading filer
- The single company with the highest reported revenue under a given TSIC code, drawn directly from the registry.
- Aggregate
- A total summed across every company in a group, rather than a single company's own figure.
Assumptions
- Only companies that filed a financial statement with the DBD contribute to the revenue totals shown here.
- TSIC 5-digit descriptions are not stored in the source aggregate table. The retail jewellery label for TSIC 47732 is matched from the published national industrial classification list and is not verified company by company.
- TSIC 64191 carries only 19 filing companies. Its trillion baht total is real but rests on a much thinner base than the other codes shown, and it is flagged here rather than treated as directly comparable.
- The underlying table refreshed after the routine's last documented snapshot. Figures here use the live computed_at timestamp of 17 Jul 2026 rather than an older cached anchor.
- Ranking by total revenue favors codes with either a few very large companies or a very large number of companies, and says nothing on its own about profitability or company survival.
Methodology
Total revenue per 5-digit TSIC code is the sum of reported revenue across every company classified under that code that filed a financial statement with Thailand's Department of Business Development, as of 17 Jul 2026. The source aggregate table stores no industry description for 5-digit codes, so each code is identified here by its number, its 1-letter industry section, and its single largest filer by revenue, all drawn directly from the registry. The retail jewellery label for TSIC 47732 is an external match to Thailand's published national industrial classification list, not a value stored in the registry, and is flagged as such. Companies with no filed statement are excluded from revenue totals but are counted separately as registered companies under each code.
How we verified this
- Divided TSIC 47732's revenue of 10,246,042,735,880.97 baht by the national total of 80,146,498,562,463.62 baht to get a 12.78 percent share.
- Divided TSIC 47732's revenue by section G's total revenue of 38,739,274,707,312.97 baht to get a 26.45 percent share within its own section.
- Divided the leading filer's revenue of 5,556,701,724,240.86 baht by TSIC 47732's total of 10,246,042,735,880.97 baht to get a 54.23 percent share held by one company.
- Summed the total revenue of the ten listed codes, 10246.04 plus 3728.79 plus 3544.49 plus 2736.14 plus 1576.59 plus 1362.99 plus 1221.40 plus 1129.11 plus 1051.58 plus 1039.16 billion baht, equal to 27,636.30 billion baht, then divided by the national total to get a 34.48 percent share.
- Summed the companies with filed data across the ten codes, 11820 plus 238 plus 1009 plus 3743 plus 2638 plus 5699 plus 157 plus 19 plus 11094 plus 7560, equal to 43,977, then divided by the national count of 1,264,734 filers to get a 3.48 percent share.
- Subtracted TSIC 19201's revenue of 3,728,793,121,424.59 baht from TSIC 47732's revenue to confirm a gap of 6.52 trillion baht between first and second place.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- National Statistical Office of Thailand. (2009). Thailand Standard Industrial Classification: TSIC 2009, based on ISIC Revision 4. https://www.thai-german-cooperation.info/download/20140522_eedp_04_tsic.pdf
Frequently asked questions
Which 5-digit Thai industry code generates the most total revenue?
TSIC 47732, with 10.25 trillion baht in combined revenue as of 17 Jul 2026, more than any other 5-digit code and 12.78 percent of the national total.
Why is TSIC 47732 described as unnamed?
The registry's aggregate table stores no industry description for 5-digit codes. External classification records match 47732 to retail sale of jewellery, which fits its top filer, a gold trading company, but that label is not part of the registry data itself.
Is the top code's revenue really spread across many companies, or driven by one giant filer?
Both are true at once. One company holds 54.23 percent of the code's revenue, yet 11,820 separate companies filed a statement under the same code, which is a broad base rather than a handful of firms.
How concentrated is total revenue across all 5-digit codes?
The top 10 of Thailand's 1,228 classified 5-digit codes hold 34.48 percent of national reported revenue while covering just 3.48 percent of filing companies.
Cite this page
Chatpong L. (2026). Top 5-Digit TSIC Codes by Total Revenue in Thailand 2026. Max Data Insights. https://maxdatathailand.com/insights/top-5-digit-tsic-codes-by-total-revenue-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.