To give some global trade perspective on recent company performance, the overall value of Thai exports declined by -7.8% from US$228.8 billion in 2011 to $210.9 billion during 2015.
In the analysis below, we compare Thailand’s top 10 export companies based on asset values, sales and profitability as of May 2016. Also specified is the number of employees for each business.
Thailand’s Top 10 Major Export Companies
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 2016 compared to 2015.
- PTT PCL (oil, gas): US$61.4 billion up 12% from 2015
- Siam Cement (specialized chemicals): $14.2 billion, up 5.7%
- Charoen Pokphand Foods (food processing): $13.7 billion, up 23.7%
- PTT Global Chemical (diversified chemicals): $10.5 billion, down -20.5%
- CP All (specialty stores): $9.1 billion, up 3.9%
- Thai Oil (oil, gas): $5.35 billion, down -16.4%
- Thai Beverage (beverages): $56 billion, down -9.6%
- Advanced Info Service (telecommunications services): $55 billion, up 48.5%
- Airports of Thailand (other transportation): $4.5 billion, down -4.3%
- Total Access Communication (telecommunications services): $3.2 billion, no change
Five of these large Thai exporters grew their asset values from 2015 to May 2016, led by telecommunications firm Advanced Info Service’s 48.5% gain. Charoen Pokphand Foods (up 23.7%), PTT PCL (up 12%), Siam Cement (up 5.7%) and CP All (up 3.9%) also posted asset growth.
PTT Global Chemical suffered the greatest cutback in asset size shrinking by -20.5%, followed by a -16.4% drop for petroleum industry competitor Thai Oil and a -4.3% setback for PTT Global Chemical.
Sales is the life blood of all business, particularly for firms that compete in international trade. Only two of Thailand’s largest export companies increased their year-over-year sales as of May 2016.
- PTT PCL: US$59.1 billion, down -36.1% from 2015
- Siam Cement: $12.8 billion, down -9%
- Charoen Pokphand Foods: $12.3 billion, down -3.2%
- PTT Global Chemical: $11.8 billion, down -34.6%
- CP All: $11.4 billion, up 28.4%
- Thai Oil: $8.6 billion, down -36.5%
- Thai Beverage: $5 billion, down -1.4%
- Advanced Info Service: $4.5 billion, down -1.5%
- Total Access Communication: $3.1 billion, down -1%
- Airports of Thailand: $1.3 billion, up 10%
Specialty stores owner CP All recorded a 28.4% increase in sales, followed by Airports of Thailand’s 10% improvement.
Sales declines ranged from a drastic -36.5% drop for Thai Oil to a more moderate -1.4% decrease for Thai Beverage.
Despite a slowing global economy, all 10 of Thailand’s top major export companies posted a profit as of May 2016.
- Siam Cement: US$1.32 billion, up 10% from 2015
- Advanced Info Service: $1.14 billion, down -5%
- Thai Beverage: $772.5 million, up 28.8%
- PTT Global Chemical: $598.2 million, down -45.6%
- Airports of Thailand: $567.3 million, up 13.5%
- PTT PCL: $560.5 million, down -81.9%
- CP All: $399.2 million, up 33.1%
- Thai Oil: $355.4 million, up 18.5%
- Total Access Communication: $344 million, up 14.7%
- Charoen Pokphand Foods: $322.7 million, up 61.4%
Three of the top Thai export companies saw their bottom-line black ink dwindle as of the latest May 2016 period. PTT PCL decreased its profits by -81.9% from 2015, while profits for PTT Global Chemical slipped -45.9%. Advanced Info Service’s profits fell by -5%.
Among the remaining seven companies, profit growth range from a 10% improvement for Siam Cement up to a 61.4% gain for Charoen Pokphand Foods.
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 and sales volume, but ironically earned only the sixth-largest profit.
- PTT PCL: 59,515 employees
- PTT Global Chemical: 42,000 employees
- CP All: 39,047 employees
- Charoen Pokphand Foods: 23,337 employees
- Thai Beverage: 22,000 employees
- Airports of Thailand: 13,087 employees
- Advanced Info Service: 6,697 employees
- Total Access Communication: 5,583 employees
- Siam Cement: 3,666 employees
- Thai Oil: 794 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
Forbes 2016 Global 2000 individual company profiles, Example of top Thailand company compiled for this study: PTT PCL. Accessed on August 12, 2016
Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on August 12, 2016
Trade Map, International Trade Centre. Accessed on August 12, 2016
Wikipedia, Category: Companies of Thailand. Accessed on August 12, 2016
Wikipedia, List of companies of Thailand. Accessed on August 12, 2016