Thailand’s Top 10 Major Export Companies

Bangkok skyline with fireworks

Bangkok skyline

Two of Thailand’s 10 largest export-oriented companies operate in the petroleum industry. Two Thai chemical firms also rank among the Asian country’s top 10 exporters as is the case for two telecommunications sector players.

To give some global trade perspective on recent company performance, the overall value of Thai exports declined by -6.9% from US$229.5 billion in 2012 to $213.6 billion during 2016.

In the analysis below, we compare Thailand’s top 10 export companies based on asset values, sales and profitability as of May 2017. Also shown is an estimated number of employees for each conglomerate.

Thailand’s Top 10 Major Export Companies

Assets

Below are Thailand’s biggest export companies organized by asset value. Shown within parentheses is the primary industry in which each company operates. Also shown is the change in asset value as of May 2017 compared to 2016.

  1. PTT PCL (oil, gas): US$63.4 billion up 3.2% from 2016
  2. Charoen Pokphand Foods (food processing): $16.3 billion, up 18.7%
  3. Siam Cement (specialized chemicals): $15.1 billion, up 6.1%
  4. PTT Global Chemical (diversified chemicals): $11 billion, up 4.6%
  5. CP All (specialty stores): $9.8 billion, up 8.1%
  6. Advanced Info Service (telecommunications services): $7.7 billion, up 40%
  7. Thai Oil (oil, gas): $6.1 billion, up 13.8%
  8. Thai Beverage (beverages): $5.2 billion, down -7%
  9. Airports of Thailand (other transportation): $4.8 billion, up 7.1%
  10. Total Access Communication (telecommunications services): $3.2 billion, no change

Nine of these 10 Thai multinationals grew their asset values from 2016 to May 2017, led by telecom firm Advanced Info Service’s 40% increase. Charoen Pokphand Foods (up 18.7%) and Thai Oil also posted healthy asset gains.

The one international business to endure a cutback in asset size was Thai Beverage and its -7% setback.

Sales

Sales is the life blood of all business, particularly for firms that compete in international trade. Four of Thailand’s largest export companies increased their year-over-year sales as of May 2017.

  1. PTT PCL: US$48.7 billion, down -17.5% from 2016
  2. Charoen Pokphand Foods: $13.2 billion, up 7%
  3. CP All: $12.3 billion, up 8.1%
  4. Siam Cement: $12 billion, down -6.3%
  5. PTT Global Chemical: $9.9 billion, down -16.2%
  6. Thai Oil: $7.8 billion, down -9.4%
  7. Thai Beverage: $5.3 billion, up 5.6%
  8. Advanced Info Service: $4.3 billion, down -4.2%
  9. Total Access Communication: $3.1 billion, down -1%
  10. Airports of Thailand: $1.5 billion, up 13.1%

Airports of Thailand recorded a 13.1% sales gain followed by Specialty stores owner CP All’s 8.1% improvement, Charoen Pokphand Foods’ 7% increase and Thai Beverage’s 5.6% progression.

For the remaining 6 multinationals, declines ranged from a -17.5% sales drop for Thai Oil to a modest -1% setback for Total Access Communication.

Profit

Despite a slowing global economy, all 10 of Thailand’s top major export companies posted a profit as of May 2017.

  1. PTT PCL: US$2.7 billion, up 372.8% from 2016
  2. Siam Cement: $1.6 billion, up 20.5%
  3. Advanced Info Service: $869.2 million, down -23.8%
  4. Thai Beverage: $756.7 million, down -2%
  5. PTT Global Chemical: $725.7 million, up 29.5%
  6. Thai Oil: $601.5 million, up 69.2%
  7. Airports of Thailand: $567.7 million, up 0.1%
  8. CP All: $472.7 million, up 18.4%
  9. Charoen Pokphand Foods: $416.7 million, up 29.1%
  10. Total Access Communication: $344 million, no change

Two of the top Thai export companies saw their bottom-line black ink dwindle as of the latest May 2017 period. Advanced Info Service’s profits fell by -23.8% while the profit decline for Thai Beverage was more modest at -2%.

Profit growth for other companies range from a 0.1% improvement for Airports of Thailand up to a robust 372.8% profit gain for international oil and gas competitor PTT PCL.

Employees

The top Thai export company in terms of the number of employees is PTT PCL. That same company also finishes first in terms of asset size, sales volume and also profitability.

  1. Advanced Info Service: 6,697 employees
  2. Airports of Thailand: 13,087 employees
  3. Charoen Pokphand Foods: 23,337 employees
  4. CP All: 39,047 employees
  5. PTT Global Chemical: 42,000 employees
  6. PTT PCL: 59,515 employees
  7. Siam Cement: 3,666 employees
  8. Thai Beverage: 22,000 employees
  9. Thai Oil: 794 employees
  10. Total Access Communication: 5,583 employees

All of Thailand’s top 10 major export companies have their headquarters located in the country’s capital city, Bangkok.




 

Note some of the above company offerings may include products other than the principal category shown within parenthesis under the Assets tab.

For example, PTT PCL operates a petroleum business. The company also produces natural gas, petrochemical products and coal.

Charoen Pokphand Foods specializes in livestock (chicken, ducks, pigs) and aquaculture (fish, shrimp). The company also produces animal feed, farm products, processed foods and ready-to-eat meals.

See also Thailand’s Top 10 Exports, Highest Value Thailand Export Products and Major Export Companies: Alcoholic Beverages

Research Sources:
Forbes 2017 Global 2000 individual company profiles, Example of top Thailand company compiled for this study: PTT PCL. Accessed on January 22, 2018

Forbes 2017 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on January 22, 2018

Trade Map, International Trade Centre. Accessed on January 22, 2018

Wikipedia, Category: Companies of Thailand. Accessed on January 22, 2018

Wikipedia, List of companies of Thailand. Accessed on January 22, 2018