Petroleum sector again tops 10 biggest revenue earners in Thailand
The petroleum sector was the top revenue-generating industry, with 3.84 trillion baht, according to the Thai Department of Business Development survey of the top 10 industries with the highest revenues based on financial statements for 2023.
Department director-general Oramon Sapthaweetham said that the department had analysed financial data and business performance to assess the overall and detailed economic growth trends in the country.
The top 10 businesses by revenue across various sectors were as follows:
1. Manufacturing of petroleum refinery products: 3.84 trillion baht
2. Wholesale of watches and jewellery: 3.12 trillion baht
3. Retail jewellery stores: 2.39 trillion baht
4. Manufacturing of passenger cars: 1.56 trillion baht
5. Manufacturing of other parts and accessories for motor vehicles: 1.55 trillion baht
6. Sales of new passenger vehicles: 1.45 trillion baht
7. Commercial banking: 1.11 trillion baht
8. Real estate: 1.07 trillion baht
9. Retail sales of automotive fuel at specialised stores (petrol stations): 1.02 trillion baht
10. Wholesale of liquid fuels: 0.96 trillion
"When this data is compared to 2022, the businesses listed have consistently ranked among the top 10, especially the top three sectors which maintained their positions," Oramon said. “The revenues of these top 10 businesses have generally increased, though with slight fluctuations. This is particularly evident in the fuel sectors, which are influenced by rising global oil prices," Oramon added.
"Additionally, the increasing interest in electric vehicles offers consumers alternative energy options, which may have some impact on the revenues of these sectors," the director-general said.
