Africa Western and Central: Market capitalization of listed domestic companies (current US$)

Key figures

Since 1994 it is up 1,306% from US$4.9 billion in 1994 (9.9% a year on average, compounded). The World Bank has no value for 11 of the years in between; the chart leaves those gaps open rather than joining across them.

What the numbers say

In 2022, Africa Western and Central's market capitalization of listed domestic companies (current US$) rose 6.4% on 2021 (from US$64.72 billion to US$68.84 billion).

Across the 13 yearly changes before that (1995 to 2021), the average change was +17.2% and a typical year strayed about 55.9% from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 153.3% in 2007 and the biggest yearly fall was 39.3% in 2008. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

See how every economy compares in the full ranking.

What this measures

Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.

Limitations: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

Regional and income-group figures are computed by the World Bank as a sum.

All 18 values

Market capitalization of listed domestic companies (current US$) in nearby economies

• Algeria — US$371.42 million (2018)
• Bahrain — US$21.31 billion (2025)
• Egypt, Arab Rep. — US$62.88 billion (2025)
• Iran, Islamic Rep. — US$185.64 billion (2025)
• Israel — US$330.88 billion (2024)
• Jordan — US$37.37 billion (2025)
• Kuwait — US$172.13 billion (2025)
• Lebanon — US$10.58 billion (2021)
• Malta

More financial sector data for Africa Western and Central

• Broad money (% of GDP) — 33.06% (2025)
• Inflation, GDP deflator (annual % growth) — 2.75% (2025)
• Domestic credit to private sector by banks (% of GDP) — 15.08% (2023)
• Monetary sector credit to private sector (% of GDP) — 15.22% (2023)
• Claims on central government, etc. (% of GDP) — 9.66% (2023)
• Domestic credit to private sector (% of GDP) — 15.22% (2023)
• Inflation, consumer prices (annual % growth) — 1.66% (2025)
• Stocks traded, turnover ratio of domestic shares (%) — 2.62% (2024)

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Questions people ask

What is Africa Western and Central's market capitalization of listed domestic companies (current US$)?

US$68.84 billion in 2022, according to the World Bank (World Development Indicators).

How has it changed since 1994?

It is up 1,306% from US$4.9 billion in 1994 (9.9% a year on average, compounded). The highest value was US$95.6 billion in 2007 and the lowest US$4.9 billion in 1994.

Is the latest change in market capitalization of listed domestic companies (current US$) unusual for Africa Western and Central?

In 2022, Africa Western and Central's market capitalization of listed domestic companies (current US$) rose 6.4% on 2021 (from US$64.72 billion to US$68.84 billion). Across the 13 yearly changes before that (1995 to 2021), the average change was +17.2% and a typical year strayed about 55.9% from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator CM.MKT.LCAP.CD, licensed CC BY 4.0. Original source: World Federation of Exchanges database, World Federation of Exchanges (WFE) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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