Japan: Market capitalization of listed domestic companies (% of GDP)

Key figures

What the numbers say

In 2025, Japan's market capitalization of listed domestic companies (% of GDP) rose 20.98 percentage points on 2024 (from 150.61% to 171.6%).

Across the 30 yearly changes before that (1995 to 2024), the average change was +2.67 percentage points and a typical year strayed about 17.02 percentage points from that (the standard deviation). This year's change was 1.1 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 36.24 percentage points in 1999 and the biggest yearly fall was 44.16 percentage points in 1990. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 the straight-line trend is upward, about 6.38 percentage points a year. A straight line explains 77% of the movement over 10 observed years.

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

A straight-line projection, tested first

Extending that straight line gives about 172.7% for 2028. We show this only because the same method, fitted on earlier years, predicted 2023 to 2025 better than "no change" would have: its average miss was 8.7%, against 33.18% for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.

See how a linear trend forecast works and the guide on forecasting without fooling yourself.

How it compares

In 2025, Japan had the 9th highest value of the 61 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Japan in the 2025 ranking

• United States — 5th of 61: 224.05%
• Canada — 6th of 61: 199.2%
• Saudi Arabia — 7th of 61: 184.71%
• Korea, Rep. — 9th of 61: 147.23%
• Singapore — 10th of 61: 136.51%
• Chile — 11th of 61: 136.2%

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.

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 weighted average.

All 51 values

Market capitalization of listed domestic companies (% of GDP) in nearby economies

• Australia — 113.87% (2025)
• China — 79.54% (2025)
• Hong Kong SAR, China — 1,425% (2025)
• Indonesia — 65.69% (2025)
• Korea, Rep. — 147.23% (2025)
• Malaysia — 103.23% (2025)
• New Zealand — 39.07% (2025)
• Papua New Guinea — 7.39% (2017)
• Philippines

More financial sector data for Japan

• Domestic credit to private sector by banks (% of GDP) — 114.38% (2025)
• Net domestic credit (current LCU) — 1,834.69 trillion (2025)
• Net foreign assets (current LCU) — 54.94 trillion (2025)
• Monetary sector credit to private sector (% of GDP) — 114.82% (2025)
• Broad money (current LCU) — 1,638.01 trillion (2025)
• Broad money (% of GDP) — 246.78% (2025)
• Broad money to total reserves ratio — 7.98 (2025)
• Consumer price index (2010 = 100) — 118.04 (2025)
• Inflation, consumer prices (annual % growth) — 3.17% (2025)
• Claims on central government, etc. (% of GDP)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Japan's market capitalization of listed domestic companies (% of GDP)?

171.6% in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1975?

It is up 145.53 percentage points from 26.06% in 1975. The highest value was 171.6% in 2025 and the lowest 2.86% in 1977.

Source

World Bank, World Development Indicators, indicator CM.MKT.LCAP.GD.ZS, 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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