BANGKOK — The overall business establishment in Thailand during the first five months of 2024 (January-May) saw 39,032 new business registrations, which decreased by 1.58% compared to last year, according to the Department of Business Development, Ministry of Commerce.
Auramon Supthaveethum, Director-General of the Department of Business Development added that the total registered capital value of new businesses is 117,099.53 million baht, which decreased by 69.89%.
However, business repeals decreased by 14.99%, totaling 4,623, while the registered capital repeals increased by 65.89%, reaching 71,844.77 million baht.
Consumers remain concerned about the slow recovery of economic growth, political stability, and ongoing geopolitical conflicts, leading to a forecast for business registrations in the first half of 2024 between 44,000 – 47,000. Additionally, the entire year is expected to see between 90,000-98,000 registrations, an increase of 5-15% from the previous year.
The Department also disclosed the fiscal analysis for the fiscal year 2023, revealing that nationwide corporations generated total revenue exceeding 57.86 trillion baht, with a profit of over 2.34 trillion baht. Among sectors, manufacturing recorded the highest income of 23.72 trillion baht and a profit of 1.10 trillion baht.
Following that, the wholesale/retail industry had revenues of 23.32 trillion baht, with a profit of 0.46 trillion baht. In contrast, the service sector recorded revenues of 10.82 trillion baht, with a profit of 0.78 trillion baht.
The top ten subsidiary businesses with the highest revenue are:
- Petroleum refining products manufacturing – 3.84 trillion baht
- Wholesale of watches and jewelry – 3.12 trillion baht
- Retail jewelry – 2.39 trillion baht
- Personal vehicle manufacturing – 1.56 trillion baht
- Manufacturing of automotive parts and other accessories – 1.55 trillion baht
- New passenger car sales – 1.45 trillion baht
- Commercial banks – 1.11 trillion baht
- Real estate – 1.07 trillion baht
- Retail of automotive fuel at gas stations – 1.02 trillion baht
- Wholesale of liquid fuels – 0.96 trillion baht
