Which Thai Industries Grew Profit Most, 2015 to 2024
In short
Manufacturing added more aggregate net profit than any other Thai industry section between 2015 and 2024, up 221.91 billion baht to 899.87 billion baht. Financial and insurance follows, up 208.71 billion baht. Mining's turnaround is the sharpest move in the data. An aggregate loss of 37.78 billion baht in 2015 became an 83.38 billion baht profit in 2024, a swing of 121.16 billion baht. Information and communication is the only major section to lose more than half its profit, falling from 95.88 billion baht to 42.40 billion baht.
Which industry grew total profit the most?
Manufacturing added more aggregate net profit than any other Thai industry section between 2015 and 2024. Its companies reported 677.96 billion baht in combined net profit in 2015 and 899.87 billion baht in 2024, a gain of 221.91 billion baht (DBD, 2026). Financial and insurance is close behind, up 208.71 billion baht to 727.21 billion baht. Wholesale and retail trade added 118.78 billion baht, and real estate added 54.25 billion baht. Those four sections already carried the largest profit pools in 2015, so their growth compounds a lead that was already large. The more striking story sits just behind them. Mining and quarrying moved from an aggregate loss of 37.78 billion baht in 2015 to a profit of 83.38 billion baht in 2024, a swing of 121.16 billion baht that puts it third on the list despite starting from negative territory.
Change in aggregate net profit by industry section, 2015 to 2024
- Manufacturing222
- Financial and insurance209
- Mining and quarrying121
- Wholesale and retail trade119
- Real estate54
- Accommodation and food service43
- Administrative and support43
- Electricity and gas35
- Transportation and storage32
- Human health and social work25
- Education5
- Professional, scientific and technical3
- Water and waste2
- Other services1
- Agriculture-0
- Arts and entertainment-4
- Construction-25
- Information and communication-53
Figures in billion baht change in net profit.
Manufacturing, finance, mining and retail trade drove most of the gain. Information and communication is the only large section to lose more than half its profit.
Every industry section ranked by profit growth
| Industry section | 2015 profit, billion baht | 2024 profit, billion baht | Change, billion baht |
|---|---|---|---|
| Manufacturing | 678 | 900 | 222 |
| Financial and insurance | 519 | 727 | 209 |
| Mining and quarrying | -38 | 83 | 121 |
| Wholesale and retail trade | 272 | 390 | 119 |
| Real estate | 93 | 147 | 54 |
| Accommodation and food service | -2 | 41 | 43 |
| Administrative and support | 43 | 86 | 43 |
| Electricity and gas | 57 | 92 | 35 |
| Transportation and storage | 53 | 85 | 32 |
| Human health and social work | 24 | 48 | 25 |
| Education | 2 | 7 | 5 |
| Professional, scientific and technical | 91 | 94 | 3 |
| Water and waste | 7 | 10 | 2 |
| Other services | -0 | 1 | 1 |
| Agriculture | 2 | 2 | -0 |
| Arts and entertainment | 3 | -1 | -4 |
| Construction | 53 | 28 | -25 |
| Information and communication | 96 | 42 | -53 |
Aggregate net profit by section, statement years 2558 and 2567 in the Buddhist calendar, equal to 2015 and 2024, as of 7 Jul 2026.
Why this matters
The mining swing is a caution against reading one year of company data as a trend. Only 1,839 mining companies filed a statement in 2015 and 2,010 did in 2024, so a small group of large mine operators can flip the whole sector from loss to profit as commodity prices move. Information and communication tells the opposite story. Its aggregate profit fell 53.47 billion baht, more than half its 2015 level, even as the number of filing companies grew from 14,630 to 21,425. More companies reporting revenue did not translate into more combined profit for that sector. Across all 18 sections with usable data in both years, aggregate profit rose 832.07 billion baht, a gain of 42.64 percent. Growth was broad but not universal, and the biggest baht gains came from sectors that were already the largest, not from the fastest movers.
Definitions
- Aggregate net profit
- The sum of net profit reported by every company in a section for a given statement year, not the average of individual company profits.
- Statement year
- The fiscal year a filed financial statement covers. Thai registry records use the Buddhist calendar, so statement year 2558 equals 2015 and statement year 2567 equals 2024 in the Gregorian calendar.
- TSIC section
- One of the lettered top level categories of the Thailand Standard Industrial Classification, such as manufacturing or mining and quarrying, each covering many five digit industry codes.
- Profit swing
- The change in aggregate profit for a section that moved from a net loss to a net profit, or the reverse, between the two years compared.
Assumptions
- Each year's figure includes only companies that filed a financial statement for that statement year, so the comparison is not a matched panel of the same companies over time.
- Sections with no or negligible data in either year, public administration, households as employers, and extraterritorial organizations, are excluded from the ranking.
- Mining and quarrying has a small filer base of under 2,100 companies in both years, so its aggregate profit is more sensitive to a handful of large operators than sectors with tens of thousands of filers.
- The 2015 figures may not capture every company that later filed a late or restated statement for that year, since registry coverage has expanded over time.
Methodology
Aggregate net profit is the total net profit reported by companies in each of Thailand's 18 major TSIC industry sections with usable data, drawn from the DBD registry's per industry annual aggregates as of 7 July 2026. Figures compare statement year 2558 with statement year 2567 in the Buddhist calendar, equal to 2015 and 2024 in the Gregorian calendar, using only companies that filed a financial statement for that year. The comparison is a snapshot of two single years for each section, not a matched panel of the same companies over time. Sections with no or negligible filings in either year, public administration, households as employers, and extraterritorial organizations, are excluded from the ranking.
How we verified this
- Manufacturing's change was recomputed as 899.87 minus 677.96, giving 221.91 billion baht, the largest positive change of the 18 sections.
- Mining's swing was recomputed as 83.38 minus negative 37.78, giving a turnaround of 121.16 billion baht.
- Information and communication's decline was recomputed as 42.40 divided by 95.88, giving 44.23 percent of its 2015 level, a fall of 55.77 percent, confirming the more than half claim.
- All 18 section level changes were summed and cross checked against the difference of the two year totals, both giving 832.07 billion baht.
- The overall 2015 to 2024 growth rate was recomputed as 2783.46 divided by 1951.39, giving a 42.64 percent increase across the 18 sections combined.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- Statista. (2026). GDP from mining and quarrying in Thailand 2015 to 2024. https://www.statista.com/statistics/1023212/thailand-gdp-from-mining-and-quarrying/
Frequently asked questions
Which Thai industry grew total profit the most from 2015 to 2024?
Manufacturing, with aggregate net profit rising 221.91 billion baht, from 677.96 billion in 2015 to 899.87 billion in 2024.
Did mining and quarrying really lose money in 2015?
Yes. The sector reported an aggregate net loss of 37.78 billion baht in 2015. By 2024 it reported a profit of 83.38 billion baht, a swing of 121.16 billion baht.
Which industry lost the most profit over the same period?
Information and communication, down 53.47 billion baht. Its aggregate profit fell from 95.88 billion baht in 2015 to 42.40 billion baht in 2024, a drop of 55.77 percent.
Does more companies filing mean more sector profit?
Not always. Information and communication gained thousands of filing companies between 2015 and 2024 while its combined profit fell by more than half.
Cite this page
Chatpong L. (2026). Which Thai Industries Grew Profit Most, 2015 to 2024. Max Data Insights. https://maxdatathailand.com/insights/which-thai-industries-grew-total-profit-the-most-since-2015-2026
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.